Oil Industry News

Exclusive | Oil Industry Warns Trump Administration Fuel Crunch Will Likely Worsen

American oil executives delivered a bleak message to Trump officials in recent days: The energy crisis the Iran war has unleashed is likely to get worse. In a series of White House meetings Wednesday and recent conversations with Energy Secretary…

The Oil and Energy Intensity of US GDP

Possibly one factor in the impact of oil shocks (although Blanchard and Gali (2007) place greater weight on greater wage flexibility and central bank credibility): Figure 1: Petroleum intensity of real GDP (blue), and energy intensity of real GDP…

Watch Cambodia's Energy Minister on Iran War, Oil Prices

Cambodia's Energy Minister on Iran War, Oil Prices Keo Rottanak, Cambodia's Minister of Mines and Energy, discusses the impact of the Iran war and rising energy prices in Cambodia. He spoke exclusively with Paul Allen on Bloomberg's Insight with…

Ecuador: Government Defies Court-Ordered Oil Ban

Ecuador is failing to comply with key provisions of an Inter-American Court of Human Rights ruling to protect the Tagaeri and Taromenane Indigenous peoples from nearby oil facilities in Yasuní National Park. The court ruled that oil…

A smart response to oil shocks

Pakistanis are once again confronting a familiar shock: a sharp, drastic rise in fuel prices. At the pump, it feels immediate and personal, but the real story of petrol prices runs much deeper. Energy prices are not just a cost for motorists; they…

Oil loading operations at UAE's Fujairah have restarted, industry source says

Language Matters | Amid new oil crisis, how the word 'oil' evolved from its food-based origins

As the Middle East conflict escalates, someone says “oil” and we picture black rain after oil depot air strikes, or contemplate the largest supply disruption in the history of the global oil market. But the origins of the word…

The biggest oil risk is at the bottom of the barrel

In the oil industry, fuel oil is known as the bottom of the barrel. It's typically cheap, unloved and, crucially, comes from the bottom of a petroleum-distillation tower – the tall piece of refining kit where crude gets heated and cracked…

Iran hits Gulf neighbors and keeps stranglehold on oil shipping as concerns rise of energy crisis

Explosions echoed across Beirut early Monday as Israel struck the Lebanese capital. It also launched a new wave of attacks on Tehran, while Dubai was forced to temporarily close its airport after an Iranian drone hit a fuel tank. Since being…

Hedging against oil shocks

The usual short-term austerity measures announced by the government are not enough to soften the impact of the current fuel crisis triggered by the US-Israel war against Iran, according to analysts at least. To quote one of them…

Energy Secretary Directs Oil Company To Resume Operations In California, Citing National Security

Energy Secretary Chris Wright on March 13 directed the Texas-based oil company Sable Offshore Corp. to restore operations in water off southern California. Wright invoked the Defense Production Act to restore the company's Santa Ynez Unit and…

Watch Stanley: Oil Market Pricing Disruption Not Destruction

Stanley: Oil Market Pricing Disruption Not Destruction Oil fluctuated after Iran said crude flows were continuing from its main export hub following a US attack on military facilities on the Kharg Island. It comes as President Trump raised pressure…

Best Oil & Gas ETFs: A Closer Look at XOP, IEO, and PXE

Sector ETFs offer diversified exposure to the oil and gas industry. The SPDR S&P Oil & Gas Exploration & Production ETF (XOP) provides access to oil firms. iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund (IEO) tracks prominent…

Plans for support on heating oil costs to be announced

Plans to support households who have faced a sharp rise in the cost of heating oil are to be set out by the government. The price of heating oil has spiked since the outbreak of the US-Israeli war with Iran, as the cost of crude oil has jumped…

Editorial: Oil, currency surge raises stagflation fears in South Korea

March 16 (Asia Today) -- This commentary is the Asia Today Editor's Op-Ed. International oil prices and South Korea's currency are rising sharply again as the Middle East conflict intensifies, raising growing concerns that the country could slide…