Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

forbes.com - Reco McCambry - ​Protecting Your Business From Oil Prices​
​Protecting Your Business From Oil Prices​
Forbes

Reco McCambry, CEO @ Novae, a black-owned fintech providing greater access to credit, capital & entrepreneurship for underserved communities Many modern business models are affected by oil prices. These effects can be devastating for companies that…

forbes.com - George Calhoun - The U.S. Is Awash In Oil And Gasoline. So Why Are Pump Prices So High?
The U.S. Is Awash In Oil And Gasoline. So Why Are Pump Prices So High?
Forbes

(Photo via Smith Collection/Gado/Getty Images). Political leaders (of both parties) have assured us that the United States is “energy independent.” So why (the heck) are gas prices so high? Here's a peculiar fact that points the way…

bloomberg.com - Subhadip Sircar - Wall Street Warms to India's Markets as Oil Pressures Fade
Wall Street Warms to India's Markets as Oil Pressures Fade
Bloomberg

After spending more than a year on the sidelines, global investors are showing fresh interest in India as sentiment begins to improve across the country's markets. Citigroup Inc.'s India team returned from meetings with 36 US clients saying…

globalnews.ca - Ariel Rabinovitch - OPEC+ agrees to higher oil production 'to support oil market stability' - National
OPEC+ agrees to higher oil production 'to support oil market stability' - National
Global News

After the Iran war choked off about a fifth of the world's oil supply for several months, the world's largest alliance of oil-producing nations agreed to increase its quota by another 188,000 barrels per day starting next month. Higher oil supplies…

scmp.com - Agence France-Presse - Indonesia, Singapore say key oil passage will remain 'accessible'
Indonesia, Singapore say key oil passage will remain 'accessible'
South China Morning Post

Indonesia and Singapore vowed on Monday that the Strait of Malacca, a critical oil transit chokepoint in the region, will remain “accessible” even as Iran imposes fees on ships traversing the Strait of Hormuz. Indonesian President…

bloomberg.com - Robert Tuttle - Ontario, Alberta Pitch Cross-Canada Oil Pipeline to Ease US Reliance
Ontario, Alberta Pitch Cross-Canada Oil Pipeline to Ease US Reliance
Bloomberg

Alberta and Ontario proposed a crude oil pipeline and energy corridor across Canada as a way of reducing the country's dependence on the US. The 3,300-kilometer (2,051-mile) route, called the Northern Shield Energy Corridor, would connect the…

thehill.com - Rachel Frazin - OPEC+ companies slightly boosting production as oil prices slide
OPEC+ companies slightly boosting production as oil prices slide
The Hill

A group of oil-exporting countries has agreed to a modest increase in oil production, though current prices are already relatively low. Seven OPEC+ nations have said they will increase their production goals by 188,000 barrels per day. The…

bloomberg.com - Robert Tuttle - Canada Unleashes Wave of Oil Drilling Permits in Next Big Play
Canada Unleashes Wave of Oil Drilling Permits in Next Big Play
Bloomberg

As oil prices surged this spring, Alberta producers didn't look to Canada's long-cycle oil sands. Instead, they rushed to drill the Clearwater formation, a low-cost conventional oil play that lets producers bring on new supply far more quickly.

japantimes.co.jp - World absorbs historic Iran war oil supply loss, but depleted stocks bring risks
World absorbs historic Iran war oil supply loss, but depleted stocks bring risks
The Japan Times

The world has absorbed with surprising ease the loss of over a billion barrels of oil supply since the Iran war began, but, with long-term peace elusive and buffer reserves now drained, it still faces the looming risk of future price spikes.

bloomberg.com - Yongchang Chin - Saudis Make Biggest Oil Price Cut in Decades as Market Weakens
Saudis Make Biggest Oil Price Cut in Decades as Market Weakens
Bloomberg

Saudi Arabia cut the price of its main crude grade for customers in Asia in August by the most in at least 26 years, as a surge of global supply heightens competition for buyers. State producer Saudi Aramco will lower the price of its Arab Light…

washingtonexaminer.com - David Zimmermann - Cuba suffers island-wide blackout amid US oil blockade
Cuba suffers island-wide blackout amid US oil blockade
Washington Examiner

This marks the latest widespread blackout for Cuba this year, with the healthcare system and other critical services among those affected. The last nationwide power outage happened in March. Cuba is undergoing an extended economic crisis that the…

hotair.com - John Sexton - Russia's Largest Oil Refinery in Flames
Russia's Largest Oil Refinery in Flames
HotAir

Last night Ukraine struck the largest oil refinery in Russia which is located outside of Omsk, more than 1,500 miles from the Ukrainian border. The Gazprom Neft-operated refinery is located on the northern outskirts of the city of Omsk, around…

independent.co.uk - Rob Gillies - Alberta and Ontario propose a pipeline to carry western Canada's oil to the east
Alberta and Ontario propose a pipeline to carry western Canada's oil to the east
The Independent

Alberta and Ontario proposed a pipeline Monday to carry western Canadian oil east and eventually to Atlantic export terminals as Canada seeks new markets beyond the United States, reviving a project that was abandoned nearly a decade ago. Alberta…

thestandard.com.hk - The Standard 英文虎報 - Oil slips after OPEC+ agrees to raise output targets
Oil slips after OPEC+ agrees to raise output targets
The Standard

Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August, while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies. SCROLL TO CONTINUE WITH…

wsj.com - Oil Rises on Possible Position Adjustments Before Expected Resumption of U.S.-Iran Talks
Oil Rises on Possible Position Adjustments Before Expected Resumption of U.S.-Iran Talks
Wall Street Journal

2351 GMT — Oil rises in early trade on possible position adjustments before the expected resumption of U.S.- Iran talks following the funeral of Iran's former Supreme Leader Ali Khamenei. “The United States and Iran are due to resume…

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