Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The oil market is facing a transportation crisis that suggests energy costs aren't falling soon
Oil prices have fallen from wartime peaks, but a broader transportation crisis in the crude market suggests it may not matter so far as preventing further pain for consumers. Energy costs have been top of mind for investors for most of this year as…
Oil falls as investors assess Mideast tensions, International Energy Agency's report
A Singapore-registered ship was sunk in the critical Strait of Hormuz. Iran said it was 'counting the moments' until it can strike U.S. warships. IEA's in its October oil report cautioned that constraints on diesel markets could continue well into…
Ukraine to restart strikes on Russian oil refineries, Zelensky says
Ukraine will resume strikes on Russian oil refineries, Volodymyr Zelensky has said, as he accused the US of withdrawing crucial support. The Ukrainian president said he had restricted such attacks for three days at Washington's behest, while Russia…
Oil Futures Fall on Possible Position Adjustments
0039 GMT — Oil futures fall in early Asian trade on possible position adjustments after rising overnight but near term losses are likely to be limited by ongoing Middle East tensions. Yemen 's Houthi militants struck a building at the…
Oil prices steady as uncertainty surrounds global supply - TT
A pump at a Buc-ee's station Oct. 12 in Johnstown, Colo. (David Zalubowski/AP) Tensions and uncertainties surrounding global oil supply and the situation in the Middle East dragged on. Tech stocks appeared to be headed for another sell-off before…
Greenland counters Trump's claims of 'massive' oil, gas drilling
Oct. 14 (UPI) -- U.S. President Donald Trump posted early Wednesday on social media that 'massive' oil, gas and mineral drilling and exploration is about to begin in 'our new and beautiful' Greenland. However, Greenland's government denied that…
Brega Oil and OLA Energy Break Ground on Tajoura Oil Depot
In a strategic move to develop oil infrastructure and enhance storage capabilities, Brega Oil Marketing Company hosted the groundbreaking ceremony for the Tajoura Oil Depot project this Wednesday morning. Brega said this initiative falls under its…
Ukraine launches new attacks against Russian oil refineries after brief truce
“The block [on attacking refineries] is out,” Zelensky declared. “We're done.” The governor of Russia's Ryazan oblast, Pavel Malkov, said in a Thursday post on Telegram that the region came under a…
Angola Seeks to Keep Oil Output Above 1 Million Barrels a Day
Angola wants to keep crude production above 1 million barrels a day as Africa's third-biggest oil producer tries to offset a decline in output from mature fields. The oil and gas sector remains central to Angola's economy and public finances…
Greenland oil, gas, and mineral exploration not as simple as Trump says
U.S. President Donald Trump said that “massive” oil, gas and mineral exploration is set to begin in “our new and beautiful Greenland,” though it wasn't clear what developments he was referring to on an island where…
ZeroHedge Debate: Sankey Predicts 2028 Oil Futures Will Feel The Pain Soon
The damage inflicted on global energy infrastructure during the Iran war could have consequences lasting well beyond the conflict itself, according to veteran energy analysts Paul Sankey and Arjun Murti, who joined Erik Townsend for last night's…
The 'Biggest Oil Deal in History' Is Turning Off the Lights in Venezuela
CARACAS, Venezuela — The “biggest oil deal in history” was announced almost simultaneously by acting Venezuelan president Delcy Rodríguez and U.S. president Donald Trump on Aug. 28. However, many Venezuelans didn't find…
Trump hails 'massive' Greenland oil and mineral exploration
Trump also noted how any possible military action against the U.S. would have to pass by Greenland, making the island a strategic military position. “Any future attack on the United States will have to come across Greenland, where our…
Iran-backed Houthis strike Saudi oil company Aramco's headquarters, officials say
CAIRO (AP) — Iran-backed Houthi rebels hit the headquarters of the Saudi state-owned oil company Aramco in an overnight strike, two regional officials said Wednesday, damaging the offices of the firm's chief executive and other top…
Russia Sources Over 84% of Oil, Gas Equipment Domestically - Industry Ministry
'This sector demonstrates a large share of Russian-made equipment in the domestic market, currently standing at 84%,' Ivanov said. Over the past five years, the state support for the sector has risen to about $299 million, with $10 billion invested…
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