Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Energy Major Shell Cashes In On Volatile Oil Markets
This article is for subscribers only. Morning, this is Chloé Meley and Moira Warburton from Bloomberg UK's breaking news team, bringing you up to speed on today's top business stories. Volatile energy markets have been painful for most…
A timeline of how the oil market weathered a historic supply shock and fell to pre-war levels
As the first attacks of the Iran war began and the Strait of Hormuz was shuttered, markets wasted little time pricing in the expected devastation in oil markets. Oil prices skyrocketed overnight. With the supply disruption characterized as one of…
Protecting Your Business From Oil Prices
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…
Fuel on the fire: why oil companies are profiting as the world gets dangerously hot
As the world swelters in ever more dangerous heat, why are oil companies being allowed to turn up the gas instead of paying for the consequences of their greed? That ought to be the question on everyone's minds amid baking heat domes over much of…
Ukrainian drones flew all the way to Siberia to strike Russia's largest oil refinery
Ukraine struck Russia's largest oil refinery, located in the city of Omsk, on Monday, marking what its forces say was its furthest-ever drone attack in the war. The Omsk facility, which processes about 21 million tons of oil a year, is in Western…
The U.S. Is Awash In Oil And Gasoline. So Why Are Pump Prices So High?
(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…
Wall Street Warms to India's Markets as Oil Pressures Fade
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…
Peak oil: China's crude demand set to fall as EV bets ease Hormuz fears
China's crude oil demand is expected to peak this year, according to executives from the country's largest oil firm, a scenario set to further reshape the global energy market following the Strait of Hormuz crisis. The world's top oil importer…
Shell Signals Strong Oil and Gas Trading Profit on Iran War
Shell Plc signaled it had another strong oil and gas trading result in the second quarter as it benefited from the market turmoil caused by the Iran war. Oil trading profits came in line with a strong first quarter while gas trading results were…
Indian State Refiners Ready for Iran Oil If US Extends Waivers
India's state-run refiners are in talks with traders marketing Iranian crude, and are preparing to buy barrels if the US extends waivers beyond August or eases restrictions, according to people familiar with the matter. The companies, however, have…
OPEC+ agrees to higher oil production 'to support oil market stability' - National
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…
Stocks stumble as tech slides despite Samsung's record profit; oil rises
LONDON, July 7 (Reuters) - Global stocks fell on Tuesday as technology shares slid despite blockbuster results from Samsung Electronics, with investors remaining concerned about the sustainability of the AI-driven rally, while oil prices rose on…
U.S. Tech Futures Down, Oil Prices Rise on Ship Attacks Near Hormuz
U.S. tech futures fell in early European trade and global artificial intelligence-related stocks weakened as investors reacted to earnings. Despite notching a 19-fold quarterly profit increase, shares in chip maker Samsung fell, dragging on stocks…
Shell sees boost from oil price spike amid Iran war, but gas production hit
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. Shell has upped its integrated gas production outlook for…
Oil expert doubts Alberta and Ontario's pipeline can deliver
Despite big promises of energy security and jobs, an oil industry expert says Alberta and Ontario's newly announced nation-building pipeline is unlikely to succeed. The proposed 3,300-kilometre Northern Shield Energy Corridor pipeline, announced…
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