Oil Industry News
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Opinion: War, oil shock, debt and inflation: Four horsemen of the fall apocalypse
Please log in to bookmark this story. Create Free Account John Rapley is a contributing columnist for The Globe and Mail. He is an author and academic whose books include Why Empires Fall and Twilight of the Money Gods. This week's U.S. inflation…
How China's oil majors helped Beijing prepare for an energy crisis
China's state oil companies have been at the forefront of Beijing's increasing prioritisation of energy security over the past decade, making investments that have helped soften the blow from the closure of the Strait of Hormuz. SCROLL TO CONTINUE…
Abu Dhabi's Oil Giant Inks Partnerships With German Energy, Industry Groups as Part of UAE's $46.5 Billion Investment
Abu Dhabi 's national oil-and-gas company said it signed a raft of deals with a potential investment value of 5 billion euros ($5.81 billion) with German energy and industrial groups, part of a major investment by the United Arab Emirates. Adnoc…
Oil Market Has Reached an 'Inflection Point': Energy Aspects
Crude oil prices are poised for further increases and the trending trajectory is higher, as global inventory drawdowns have accelerated and China is back to buying significantly higher crude oil volumes than in the spring, Energy Aspects founder…
Saudi Arabia Shuts Key Crude-Oil Pipeline
Saudi Arabia's oil industry was already reeling. The kingdom's crude-oil production fell to its lowest level in more than three decades last month, dropping by 2.3 million barrels a day to 6 million barrels a day in August, the International Energy…
Saudi Arabia shuts down oil pipeline, blaming drones from Iraq
Saudi authorities said Friday drones launched from Iraq led to the temporary closure of a crucial oil export route used to bypass the lockdown of the strait of Hormuz. Riyadh has increased its use of the East-West pipeline, which links Abqaiq, near…
US stocks jump after oil prices ease
NEW YORK — U.S. stocks rebounded Friday and regained much of their losses for the week after oil prices eased off their recent spurt. An update on inflation across the United States that came in close to economists' expectations, even if…
Trump has prioritized oil and minerals. Lower prices haven't followed.
President Donald Trump promised to ramp up natural resource drilling and mining as a way to create jobs and cut Americans' energy bills. His administration has acted on the pledge, but the results have mostly fallen short – in some cases…
IEA slashes global oil demand and supply forecast again as Iran war intensifies
News from the City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The global oil demand outlook has been slashed once again…
Saudi Oil Pipeline That Bypasses Hormuz Shut After Attacks
Saudi Arabia said it closed its East-West oil pipeline, a key alternative route to the Strait of Hormuz, following multiple attacks on Thursday. The conduit was shut as a precautionary measure, the Ministry of Energy said Friday in a post on X. The…
Oil prices ease but remain above $100 - TT
Oil prices eased, taking a bit of pressure off inflation. Oil prices jumped earlier this week to their highest levels since May because of the ongoing war with Iran. The data firmed expectations on Wall Street that the Federal Reserve will feel…
Saudi Arabia's Critical Oil Bypass Comes Under Threat
Houthi strikes threaten Saudi oil exports as Brent hits $105 and Middle Eastern crude soars to $120. Houthi strikes on Saudi Arabia's oil infrastructure have alerted the oil markets to the possibility of seeing even less Middle Eastern supply than…
Map: Iran's ally poised to choke additional 10 percent of oil trade by sea
A rapid offensive by the Yemeni Ansar Allah movement, also known as the Houthis, has put a powerful Iranian ally in control of the nation's Red Sea coast and, with it, another key maritime corridor at the mercy of the Axis of Resistance. The Bab…
Saudi Arabia's shutdown of key pipeline limits oil flow as Yemen hits back against Houthis
Saudi Arabia has closed a critical oil pipeline after it was struck by drones launched from Iraq, the latest squeeze on Middle Eastern supplies after attacks by Iran-backed Houthi rebels this week threatened to deepen the world's energy crisis. The…
'To the victor the spoils': Trump's Venezuelan oil grab
It was “a predatory move” that reeked of old-school colonialism, said Le Monde (Paris). Last week, in a typically grandiose social media post, Donald Trump announced that the US and Venezuela had struck “THE BIGGEST OIL DEAL IN…
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