Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
CME Shelves Plans for 24/7 Oil Contract After Industry Pushback
CME Group Inc. is shelving plans to launch a round-the-clock oil contract following industry pushback. “Based on extensive conversations with industry participants, we have determined that key constituents are concerned that introducing 24/7…
Republican lawmakers distance themselves from Big Oil
The average cost of diesel stands at $6.52 a gallon as of late September, according to AAA, an increase of more than 80% from a year ago in the hardest-hit states, many of which are competitive in the November midterm elections. The response from…
Kyiv defies Trump with massive drone barrage against Russian oil
Ukraine has defied US President Donald Trump by launching a swarm of deadly drones on Russia, unleashing at least 650 Kamikaze planes at Moscow's oil and chemical factories. The massive overnight attacks on Russia's oil complexes was approved…
G7 announces release of diesel, crude oil reserves to curb high prices
Oct. 2 (UPI) -- The G7 announced Friday that it plans to release up to 100 million barrels of diesel and crude oil reserves as it attempts to curb high fuel prices. The international, intergovernmental group said the release of reserves will be…
G7 to release up to 100m barrels of emergency oil and diesel reserves
Leaders of G7 nations are to release up to 100m barrels of their emergency diesel and crude oil stockpiles after coming under pressure from Donald Trump to ease surging fuel prices. The drawdown of reserves from some of the world's largest…
Big Oil Perfected Sideways Drilling. A Startup Wants to Do the Same With Nuclear Waste
The thorny puzzle of how to store nuclear waste that will pose a danger to humanity for at least the next 10,000 years has historically been the kind of thing that governments turn to science fiction to help solve. Back in the 1980s, for example…
Trump says US deal with South Korea includes US$8.4 billion for oil recovery
President Donald Trump said on Friday that a US trade deal with South Korea now includes US$8.4 billion (HK$65.52 billion) for an oil recovery project. SCROLL TO CONTINUE WITH CONTENT “The Republic of Korea Deal keeps getting BETTER! 8.4…
G7 nations agree to release 100 million barrels of oil, including diesel
WASHINGTON (AP) — The Group of Seven industrial nations said on Friday that they plan to release 100 million barrels of oil in the coming weeks, starting with 'substantial' amounts of diesel after the fuel recently hit record high prices in…
The Oil Executive Building a Solar Farm Bigger Than London
Anant Ambani works in oil. His big bet is on sunshine. Reliance Industries controls the world's largest oil-refining complex. But Anant Ambani, who is leading the clean-energy business, wants to focus on something different from what has been…
How China Managed the Oil Shock
Since what the International Energy Agency called “the largest supply disruption in the history of the global oil market” arrived in February, China—the world's largest crude oil importer, with more than 90 percent of these…
G7 to release 100 million barrels of oil and diesel after Trump export ban threat
The G7 has agreed to release 100 million barrels of oil and diesel in a bid to ease supply pressures that have caused prices to skyrocket. The group of advanced economies, including the US, said the move would include a 'substantial release' of…
G7 nations will release 100 million barrels of oil and diesel fuel after prices soar
WASHINGTON (AP) — The Group of Seven wealthy democracies said Friday that they plan to release 100 million barrels of oil and fuel products in the coming weeks, starting with “substantial” amounts of diesel after the fuel…
G7 to release 100 million barrels of oil and diesel after Trump export ban threat
Archie Mitchell and Lucy Hooker, Business reporters The G7 has agreed to release 100 million barrels of oil and diesel in a bid to ease supply pressures that have caused prices to skyrocket. The group of advanced economies, including the US, said…
Three reasons Middle East oil is nearly back to pre-Iran war levels
The volume of oil flowing from the Middle East region has almost returned to pre-war levels, data shows, despite the continued restrictions Iran is placing on vessels attempting to travel through the Strait of Hormuz. Seven months after the…
Three reasons Middle East oil is nearly back to pre-Iran war levels
Thomas Copeland and Becky Dale BBC Verify The volume of oil flowing from the Middle East region has almost returned to pre-war levels, data shows, despite the continued restrictions Iran is placing on vessels attempting to travel through the Strait…
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