Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The Oil Market's Most Trusted Number Is Going Private
A free government oil-stocks report moves prices every Wednesday. As the agency behind it thins out, private satellite data is quietly taking its place. The U.S. government publishes a count of the country's oil stocks every Wednesday, and the…
Oil's Proved Reserves Are Becoming An AI Estimate. The Audit Rules Predate It.
Oil companies are shifting reserve estimates from human engineering to machine-learning models. Permian Resources' latest quarterly report, filed this spring, names “artificial intelligence and its application in our industry” as a…
Sable keeps up the fight for energy -and lower oil prices
All Sable Offshore wants to do is produce reliable domestic oil in California. And to lower prices for California drivers. And to create jobs for California workers. And that's why Democrats and bureaucrats (but we repeat ourselves) are trying to…
Korea, Saudi Arabia sign agreement on crude oil, gas cooperation
Korea and Saudi Arabia have signed an agreement to seek cooperation in the energy resources industry, including crude oil and natural gas, amid recent volatility in global supply chains, the industry ministry said Sunday. Industry Minister Kim…
UK armed forces intercept Russian shadow fleet oil tanker in Channel
British armed forces have intercepted a Russian shadow fleet oil tanker in the English Channel the early hours of Sunday morning, Sir Keir Starmer has said. In an operation lasting six hours, Royal Marine Commandos and specially trained law…
Oil Is Dirt Cheap, Prepare For The Spike Up Now
Executive insights from CVX confirm that the floating shadow inventory used to mask the global deficit is officially exhausted. Comprehensive modeling from XOM indicates that crude is coiled to violently spike toward $150–$160 per barrel…
U.K. forces intercept a Russian shadow fleet oil tanker in English Channel
LONDON — British forces intercepted a Russian shadow fleet oil tanker on Sunday morning, its Ministry of Defence said, in the latest effort to disrupt Moscow's sanctions-evasion network. Russia's “shadow fleet” of more than 700…
Inflation Data, US Fed Rate Decision, Crude Oil Prices to Influence Indian Stock Markets
Indian stock markets are poised for movement influenced by crucial factors including domestic inflation data, the US Federal Reserve's interest rate decision, and global crude oil price trends, according to market analysts. Indian stock markets…
May Inflation Print: Why The 4.2% Headline Is An Oil Story
Money that fled semiconductors during the prior week's chip wreck found a fresh, even bigger AI vehicle to chase. Headline CPI reaccelerated to 4.2% year over year, the hottest reading since April 2023, and the “inflation is back”…
Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release
A senior Iranian official told Reuters a final draft of the memorandum of understanding with the U.S. covered a range of issues, from Tehran's nuclear work to reopening the Strait of Hormuz and U.S. waivers on oil sanctions, with a final deal to be…
India remains 2nd largest buyer of Russian oil in May
India remained the world's second-largest buyer of Russian fossil fuels in May, importing an estimated 5.8 billion euros (USD 6.7 billion) worth of Russian hydrocarbons as refiners stepped up crude purchases from Moscow, European think tank Centre…
Iran says draft US deal includes oil sanctions waiver, nuclear limits and asset release
DUBAI, June 14 (Reuters) - A senior Iranian official told Reuters a final draft of the memorandum of understanding with the U.S. covered a range of issues, from Tehran's nuclear work to reopening the Strait of Hormuz and U.S.
Airlines on high alert over strengthening dollar, prolonged oil price hike
Korea's aviation industry is facing severe headwinds, as a combination of high oil prices and a weakening Korean won is feared to slow down major airlines' earnings recovery. According to estimates by market tracker, FnGuide, the nation's five…
Petróleo Brasileiro S.A. - Petrobras (PBR) Inks Deal with SBM Offshore for Oil and Gas Production Vessels
Petróleo Brasileiro S.A. – Petrobras (NYSE: PBR) is one of the best hot stocks to buy for June. On May 28, Petróleo Brasileiro S.A. – Petrobras (NYSE:PBR) entered into an agreement with SBM Offshore for two floating oil…
Artist collective Broken Fingaz shifts from graffiti to oil painting in Tel Aviv
The smell of fresh oil paint still hangs in the air at “No Way Around It,” the first comprehensive solo exhibition by Broken Fingaz in Tel Aviv. Presented at the Nassima Art Foundation, the works were created specifically for the…
Receive a Daily briefing on Oil Industry News
Get Started