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 five most exciting regions for global oil development
Let's start with Guyana on the northern coast of South America. This small, once-impoverished country is the most exciting oil geography in the world. Guyana produced zero oil as recently as 2019. By the end of this year, production should reach 1…
US oil futures spike as Trump ramps up Iran threats and the global supply scramble intensifies
Oil prices jumped on Tuesday after President Donald Trump ramped up threats against Iran. 'We have to have a deal that's acceptable to me, and part of that deal is going to be we want free traffic of oil and everything,' he said at a White House…
Watch Iran War: Oil Volatility to Worsen on Trump Threat, Crystol Energy Says
Oil Volatility to Worsen on Trump Threat: Crystol Energy Crystol Energy CEO Carole Nakhle says US President Donald Trump's threat to escalate the war against Iran adds more uncertainty and volatility to oil in an 'already-stressed market.' She…
Hormuz closure divides the fortunes of Middle Eastern oil states
The Strait of Hormuz's closure and the resulting surge in global oil prices have handed financial windfalls to Iran, Oman and Saudi Arabia, while other states that lack alternative shipment routes have lost billions of dollars, a Reuters…
Red lights are flashing on the scarcity of oil | CNN Business
Six weeks ago, the world was practically swimming in crude oil. The market was oversupplied and prices were low and stable. But now, some parts of the energy market are acting like the world is on the verge of running dry.
Beyond Russian oil, China also increases appetite for Ukrainian wheat flour
China is expanding its agricultural trade with Ukraine with further opening of its wheat flour market, a move that underscores its pragmatism and balanced diplomacy as it also increases energy imports from Russia. On Monday, China's ambassador to…
Oil prices extend gains as Trump sharpens rhetoric on Iran
Oil prices extended gains on Tuesday as U.S. President Donald Trump heightened his rhetoric against Iran, threatening stronger action if the country fails to reopen the Strait of Hormuz, a key global oil transit chokepoint. SCROLL TO CONTINUE WITH…
Oil prices nudge higher amid caution ahead of Trump's Iran deadline
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The price of oil moved higher on Tuesday amid…
Oil Climbs Higher Again, U.S. Futures Slide as Iran Deadline Approaches
Oil prices rose for a third straight session and U.S. stock futures fell back as markets await President Trump's Tuesday-night deadline for Iran to agree to a deal. Trump said the U.S. could take out Iran “in one night”, bombing…
Trump administration recombining two federal agencies separated after Gulf oil spill
The Trump administration will combine two agencies that were split up after the infamous 2010 Deepwater Horizon oil spill. The spill, which released millions of gallons of oil into the Gulf of Mexico and killed 11 people, brought national attention…
Oil prices climb as Hormuz stays shut ahead of Trump deadline
Oil prices extended gains on Tuesday as a U.S.-imposed deadline loomed for Iran to open the Strait of Hormuz or be 'taken out', with U.S. President Donald Trump threatening to order attacks on Iranian bridges and power plants. SCROLL TO CONTINUE…
5 Of The World's Largest Oil Refineries: Money Listicle
An oil refinery, to put it simply, is a factory in which oil is processed. Crude thick oil, recovered from below the earth's surface, becomes oil that is useable in homes, cars, planes, trains, industries and umpteen other places. By nature…
Oil and gas prices likely to stay elevated even if there is a ceasefire in Iran
Working in the background of this looming deadline is reportedly Vice President JD Vance, who has been in peace talks with Pakistani officials operating as intermediaries between the U.S. and Iranian governments, according to multiple outlets. Both…
China's Coal Giants Bet on Chemicals as War Curbs Oil Supplies
Chinese coal companies are turning to chemicals manufacturing for growth, as war in the Persian Gulf constrains supply of the liquid fossil fuels more commonly used by the industry. The country's vast coal deposits mean that, unlike oil and gas, it…
South Korea to send envoys to secure oil supplies amid crisis
April 6 (Asia Today) -- South Korea's government and ruling Democratic Party said Monday they will dispatch special envoys to major oil-producing countries, including Saudi Arabia, to secure alternative crude supplies as the Middle East conflict…
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