Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil industry prompts government to discourage hoarding as petrol stocks decline to 14-day cover
ISLAMABAD: Pakistan's oil supply chain players appeared nervous as petrol stocks declined to a 14-day cover on Thursday, prompting the government to urgently address procedural issues and activate enforcement mechanisms to discourage hoarding for…
Oil shock: how China influences global markets
Energy prices rose sharply this week as Iran moved to close the Strait of Hormuz with more ship attacks and the U.S. military resumed its daily strikes on Iranian targets. Months of disruption to the most important waterway for crude oil trade…
Top 10 Oil-Producing Countries In The World, According To The EIA
Oil has been declared dead more times than I can count, yet the world still consumes more than 100 million barrels of it every day, according to the Energy Information Administration. Petroleum powers planes, trucks and ships. It's used to make…
New science report could boost climate suits against oil giants
Climate lawsuits seeking massive damages from fossil fuel companies increasingly hinge on the question: how reliably can scientists pin specific extreme weather to human-caused climate change? Very confidently for events like heat waves and heavy…
South Korea secures 74% of September crude oil needs
July 16 (Asia Today) -- South Korea has secured crude oil supplies for September equivalent to 74% of last year's level as renewed military tensions between the United States and Iran raise concerns about energy shipments through the Strait of…
US military boards oil tanker in Gulf of Oman
Take our brief newsletter survey to help us improve the newsletters you read every day. The U.S. military boarded a sanctioned oil tanker in the Gulf of Oman on Thursday as U.S. forces continued to enforce the naval blockade that went into effect…
World's largest olive oil company says market has 'definitively' entered new phase
The world's largest olive oil company says a period of unprecedented volatility has 'definitively' given way to more stable market conditions. Favorable rainfall trends across major producing nations, such as Spain, has paved the way for a solid…
Could Somalia See The World's Next Major Oil Discovery?
As the Gulf (the world's traditional energy centre) becomes riskier, the oil industry is searching for new hydrocarbon provinces. Much high-impact exploration is concentrated in Latin America and West Africa, far from Asia-Pacific, the main…
March World Oil Production Collapses
The focus of this post is an overview of World oil production along with a more detailed review of the top 10 Non-OPEC oil-producing countries. The World's March oil production dropped by 10,320 kb/d to 76,395 kb/d due to the closing of the Hormuz…
Is Oil Price Spike Derailing FPI Comeback?
FPIs have already withdrawn Rs 2.6 trillion from Indian equities in 2026, exceeding the outflows recorded in any previous full calendar year. FPIs turned net sellers after eight straight buying sessions, offloading Rs 7,443 crore amid a sharp surge…
Halliburton Gets Aramco Contracts for Saudi Oil Wells
The lump sum turnkey contracts, which have an initial three-year term, cover oil re-entry operations, drilling, completions, and workers for about 285 planned oil wells across several oil fields in the country. The contracts also have an extension…
Oil Rises Amid Escalating Supply-Disruption Concerns
2352 GMT — Oil rises in early trade amid escalating concerns over supply disruptions in the Middle East. The U.S. struck multiple bridges in Iran on Thursday in a bid to cut off supply routes to a port city and naval base in the Strait of…
Oil giant BP shutters its corporate venture arm after 20 years
BP has had an on-again, off-again relationship with climate tech. Now it's definitely “off.” On top of pivoting away from clean energy earlier this year, the oil giant announced today that it was selling the majority of its venture…
Oil rises on intensifying US-Iran hostilities, threat of Red Sea closure
Oil prices inched up on Friday after the US and Iran stepped up attacks across the Gulf, with their broken truce limiting oil flows out of the Strait of Hormuz and with Tehran asking the Houthis to stand ready to shut the Red Sea export route.
Gas Prices Will Stay Higher for Longer, Even if Oil Falls
President Trump has succeeded at times in calming crude-oil markets even as the Iran war rages on. But he doesn't have the same sway over gasoline prices, which ultimately matter more to consumers. Despite the resumption of U.S.-Iran hostilities…
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