Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Norway oil industry maintenance workers launch strike
A Norwegian union representing offshore oil workers announced a strike on Monday (June 15, 2026) by maintenance workers after failing to reach a collective wage agreement regarding the maintenance and servicing of oil wells, which the Norwegian…
CPI(M) seeks permanent closure of oil industrial unit
The Erode Taluk Committee of the Communist Party of India (Marxist) [CPI(M)] has urged the district administration to permanently close an oil industrial unit at Moolakarai in Koorapalayam village and implement the District Coordination Committee…
Oil Flows Will Remain Uncertain
MUSCAT, OMAN - MARCH 30: A police speed boat patrols the port as oil tankers and high speed crafts sit anchored at Muscat Anchorage near the Strait of Hormuz on March 30, 2026 in Muscat, Oman. (Photo by Elke Scholiers/Getty Images) Years ago, an…
China's top coal region to expand coal-to-oil output in energy security push
China's top coal-producing region plans to build the country's largest base for turning coal into oil, gas and chemicals to help reduce reliance on imports, highlighting how the Iran war has sharpened China's focus on energy security. SCROLL TO…
Peak oil demand arrives sooner than expected
The U.S.-Israeli-Iran war may be remembered for many things, not least the closure of the Strait of Hormuz, the reshaping of Middle Eastern geopolitics and the damage done to the global economy. But another consequence is less obvious: The largest…
Watch SVB Energy's Vakhshouri on the Outlook for Oil Prices
SVB Energy's Vakhshouri on the Outlook for Oil Prices Sara Vakhshouri, founder of SVB Energy International, says the oil market has adapted to the Strait of Hormuz disruption and prices could fall to pre-war levels if the waterway 'truly' reopens.
International Petroleum Corporation Corporate Update: Blackrod Phase 1 First Oil Achieved
International Petroleum Corporation (IPC) (TSX, Nasdaq Stockholm: IPCO) is pleased to announce first oil has been achieved at Phase 1 of the Blackrod project, ahead of schedule and on budget. The Blackrod Phase 1 development project began…
Flynn says SNP will 'fight to protect' oil and gas while also backing renewables
Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. The SNP will “fight to protect”…
Lingering questions from Iran deal for oil and gas prices
Senior U.S. officials confirmed that President Donald Trump and Vice President JD Vance digitally signed the memorandum of understanding, along with Iranian Parliament Speaker Mohammad Bagher Ghalibaf. The peace deal, however, still has to be…
Oil prices drop as Trump heralds US-Iran peace deal
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. Oil prices have fallen back sharply after US President…
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Gulf Oil's latest campaign celebrates ambition beyond the ordinary
Gulf Oil Lubricants India, a Hinduja group company, has announced the launch of its new B2B brand campaign, “Dream Beyond. Do Beyond”, aimed at strengthening relationships with stakeholders across the industrial, infrastructure, and…
U.S. Oil Reserve Hits 43-Year Low - TT
The Strategic Petroleum Reserve storage at the Bryan Mound site in Freeport, Texas. (Brandon Bell/Getty Images via Bloomberg News) The Trump administration is moving to release 172 million barrels from the Strategic Petroleum Reserve, cutting…
Even with a deal to reopen the Strait of Hormuz, it could take weeks or months for oil to fully flow
FRANKFURT, Germany (AP) — The tentative agreement to end the war in Iran and reopen the Strait of Hormuz would be good news for the global economy. But even as the price of oil dropped Monday, many questions remained about when and how it…
Cost of Iran oil crisis to UK drivers reaches £4bn
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. The Iran oil crisis has cost UK drivers £4 billion…
Stocks soar, oil prices fall on tentative agreement to end Iran war
Stocks rose on Monday after the U.S. and Iran reached a tentative deal to end hostilities, with oil prices falling ahead of the potential opening of the Strait of Hormuz. Futures for the S&P 500 were up more than 1.2 percent as of just after 9 a.m.
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