Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil and gas industry expected surplus - but war brought shortage instead
In 2023, the International Energy Agency predicted that by 2028 the world's oil companies would produce more oil than people wanted to buy. Prices responded to that and similar projections of slowing oil demand, dropping too low to attract…
Turkey Is Turning Its Breadbasket Into an Oil Hub
Across Cukurova, the alluvial plain in southern Turkey that lines the easternmost inlet of the Mediterranean Sea, farmers till land so fertile that it bears three harvests a year. Rivers feed cash crops of cotton, corn, wheat, sunflowers, rapeseed…
Oman to Boost Oil Storage as Gulf Nations Seek to Bypass Hormuz
Oman plans to more than double oil storage capacity at a port outside the Strait of Hormuz, seeking to take advantage of its strategic position as energy producers in the region look for workarounds to the highly contested waterway. State energy…
Oil Prices Rise as U.S.-Iran Talks Remain Uncertain
Oil prices rose Tuesday as investors assessed uncertainty around U.S.- Iran ceasefire efforts against recovering Middle Eastern crude flows and the restart of Saudi Arabia's East-West pipeline. Front-month November Brent crude futures rose 1.4% to…
Lufthansa Sees Another Transitional Year With Oil and Fleet Issues
Deutsche Lufthansa AG Chief Executive Officer Carsten Spohr predicted another year of financial and operational challenges ranging from uncertain aircraft deliveries to high oil prices and cost pressure at home that will force the airline to…
Asian Bonds to Decline as Oil Fans Inflation Fears: Markets Wrap
Asian bonds tracked Treasuries lower as elevated oil prices stemming from the US-Iran standoff revived inflation concerns and bets on further Federal Reserve interest-rate hikes. Government bonds fell in New Zealand, while futures pointed to losses…
Oil prices head lower as mediators work on U.S.-Iran deal - TT
The cost of diesel is displayed at a gas station Sept. 10 in Mill Valley, Calif. (Jeff Chiu/AP) Oil prices remain elevated as mediators continued to work with the United States and Iran on reaching a deal to end the fighting and open the Strait of…
Indian Stock Market Falls: Crude Oil, FII Outflows, US Yields Impact Sensex, NiftySensex, Nifty fall as high oil prices, foreign fund outflows weigh
Indian equity markets, including the Sensex and Nifty, experienced a second day of declines as elevated crude oil prices, significant foreign fund outflows, and global economic uncertainties continue to weigh heavily on investor sentiment. Indian…
Alito recuses from case that could toss climate suits against oil companies
Justice Samuel Alito on Monday recused from a major climate case set to be heard next week, stepping aside with no explanation after previously participating in the vote to take up the dispute. Alito has long held financial interests in the oil and…
(Video) Gang conflict over space oil market triggers massive street brawl in Tin Shui Wai
An active police investigation into a mass street fight outside Tin Chak Market in Tin Shui Wai has uncovered a deep-seated dispute between two major triad factions over the distribution of the emerging illicit drug etomidate, commonly known as…
Stock markets fall for 2nd day as oil prices, foreign fund outflows weigh
Equity benchmark indices Sensex and Nifty ended lower for the second day on Tuesday as elevated crude oil prices triggered by uncertainty over the West Asia situation and foreign fund outflows weighed on investor sentiment. The 30-share BSE Sensex…
Japan could redraw the global oil map
You have reached your maximum number of saved items. Remove items from your saved list to add more. Among the world's top fuel-consuming nations, Japan is the most energy insecure. Its import-dependency ratios are scary: It buys overseas 99.9 per…
In a Region Where We Do Not Sell Oil, No One Will Sell Oil': Iran Parliament Speaker Ghalibaf Warns US
Tehran: Iranian Parliament Speaker Mohammad Bagher Ghalibaf on Tuesday warned the US and other countries over the Strait of Hormuz, saying that if Iran's security is not ensured, “no infrastructure will be safe”. Ghalibaf made the…
EU Eyes Methane Rule Retreat As Energy Crisis Deepens; IEA Floats Another Emergency Oil Dump
The European Union is considering postponing methane emissions requirements for imported oil and gas to help boost energy supplies, with the Northern Hemisphere winter just months away. Energy prices in the bloc are already soaring, and…
Oil gains 2 percent as US-Iran peace talks in stalemate
Oil prices rose about 2 percent on Monday after US President Donald Trump rejected a peace deal from Iran to resolve their conflict and reopen the Strait of Hormuz. SCROLL TO CONTINUE WITH CONTENT Brent futures were up US$1.68, or 1.6 percent, at…
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