Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Up as Oil, Natural Gas Rebound -- Energy Roundup
Shares of energy companies rose as oil and natural-gas futures rebounded. Oil prices rose for the second straight session as Hurricane Francine forced many offshore wells to shut in production when it slammed the coast of Louisiana Wednesday as a…
Daily on Energy: Oil and gas bill to Biden's desk, a record-hot August, and…Goodbye, Nancy!
What the bill does: Dubbed the “ Royalty Resiliency Act, ” the measure introduced by Texas Republican Rep. Wesley Hunt is meant to improve the management of oil and gas leases by removing certain royalties, until the Interior…
Oil, gasoline prices face a slump
As global events that contributed to higher gas prices in recent years like the COVID-19 pandemic and Russia's 2022 invasion of Ukraine “get further away in the rear view,” said Patrick DeHaan, head of petroleum analysis at GasBuddy…
Industry groups appeal court order threatening Gulf of Mexico oil production
API, EnerGeo Alliance, the National Ocean Industries Association, and Chevron USA said the order puts “current and future U.S. energy supply” at risk in an appeal filed Wednesday evening. The order in question was issued by the U.S.
Tourmaline Oil Corp. stock rises Thursday, still underperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.24% higher to C$58.89 Thursday, in what proved to be an all-around favorable trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE rising 1.14% to 23,475.14. Tourmaline Oil…
Scotland's only oil refinery to shut with the loss of 400 jobs
Petroineos has now confirmed Grangemouth will close by next summer Joint investment plan has been announced by the Scottish and UK Governments They've pledged to ‘work together for an industrial future for the site' Click here to visit the…
Oil extends recovery to cap volatile week
OIL prices rose on Friday, extending a rally sparked by output disruptions in the U.S. Gulf of Mexico, where Hurricane Francine forced producers to evacuate platforms before it hit the coast of Louisiana. Brent crude futures rose by 32 cents, or…
Nymex Overview: Crude Oil Futures Continue to Recover from Tuesday's Selloff -- OPIS
Crude oil futures were up by about $2/bbl on Thursday, continuing to rebound from the sharp selloff Tuesday that sent prices to nearly three-year lows. Supply worries related to Hurricane Francine, which made landfall along Louisiana's coast late…
Goldman recommends these energy stocks to play the slump in crude oil
Gary Hershorn | Corbis News | Getty Images The sharp slump in crude oil this month has driven down energy stocks, but the pullback also presents an opportunity for investors to gain exposure to some high-quality companies, according to Goldman…
Is The Oil Market Foreshadowing A Global Recession?
Oil has fallen substantially over the last month, with WTI crude hitting $66 per barrel earlier this week from more than $80 per barrel earlier in the summer. OPEC and the IEA both cut demand forecasts for this year, and OPEC recently shelved a…
Scotland's last oil refinery to close over net zero petrol car ban
Scotland's last remaining oil refinery will shut down next summer with 400 job losses amid a looming ban on new petrol and diesel cars. Grangemouth refinery, co-owned by Sir Jim Ratcliffe's Ineos, will be closed partly due to falling demand for…
Oil Prices Higher Amid Supply Concerns
0015 GMT — Oil prices are higher in early Asian trade amid concerns about supply risks. Hurricane Francine has shut down of about 670,000 bbls/day of production in the Gulf of Mexico, ANZ Research analysts say in a note, citing the U.S.
Collapsing Oil Prices? Here Are My 3 Favorite High-Yield Oil Stocks To Buy
I have been bullish on oil and gas stocks since 2020. Back then, I started to develop my thesis, which was (and still is) based on several key factors: Peak growth in American shale production. Between 2009 and 2021, booming shale production…
Oil rises as storm batters US Gulf of Mexico output
NEW YORK: Oil prices rose over 2% on Thursday as producers assessed the impact on output in the US Gulf of Mexico after Hurricane Francine tore through offshore oil-producing areas before being downgraded to a tropical storm. Over 730,000 barrels…
Breaking: Grangemouth oil refinery confirmed to close in DATE - BBC News
Scotland's only oil refinery is to close by the summer of next year, with the loss of 400 jobs. Petroineos said the closure of Grangemouth was due to it being unable to compete with sites in Asia, Africa and the Middle East. The company said the…
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