Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
US futures slip and Asian stocks are mixed, while oil prices surge more than $1 a barrel
BANGKOK -- Asian shares began the week mixed, with Tokyo's benchmark falling nearly 2% on Monday after the release of data showing weak factory activity, while U.S. futures fell. Oil prices surged more than $1 a barrel. In Japan, the Nikkei 225…
Third Russia-Linked Oil Tanker Suffers Explosions at Sea
An oil tanker carrying diesel suffered four external explosions near Dakar, Senegal, its manager said, the third vessel with links to Russia to have been struck over the last few days. Seawater entered the engine room of the Mersin, Besiktas…
OPEC+ Holds Fire, Maintains Oil Production Pause To March 2026
The logo of the Organization of the Petroleum Exporting Countries seen outside its secretariat in Vienna, Austria. (Photo: Danil Shamkin) Oil producers' group OPEC+ maintained its plan to keep crude output levels unchanged until March 2026 at its…
Nakhle: No Sudden Flow as Russian Oil Never Left Market
Oil rose after OPEC+ confirmed it will stick with plans to pause production hikes during the first quarter, while traders weighed the fallout from President Donald Trump's rhetoric around Venezuela. Meanwhile President Trump continues to push for a…
Oil Higher; Russia-Ukraine Peace Talks in Focus
0209 GMT — Oil is higher in early Asian trade. Markets continue to focus on the progress of Russia-Ukraine peace talks, Nanhua Futures analysts in a commentary. Strict sanctions imposed by the U.S. on Russian energy companies have provided…
India Picks Up Non-Sanctioned Russian Oil as Discounts Widen
India's state-run refiners Indian Oil Corp. and Bharat Petroleum Corp. have bought Russian crude for January delivery, lured by discounts and plentiful supplies from non-sanctioned sellers, according to people familiar with the matter. The…
Study links obesity to popular cooking oil
Scientists at University of California, Riverside found that soybean oil contributes to obesity in a study involving mice. The oil creates specific fat-derived molecules—oxylipins—that alter liver metabolism and increase fat…
Russia neighbor warns Ukraine after new oil pipeline attack
Kyiv's attacks on infrastructure propping up oil exports are 'detrimental' to Kazakh relations with Kyiv, Astana's government said on Sunday, after Ukrainian seaborne drones attacked two Russian-linked oil tankers and Kazakh authorities said…
OPEC+ to suspend oil output increase
VIENNA, Nov. 30 (Xinhua) -- The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, have decided to pause oil output increases in January, February and March 2026 due to seasonality, OPEC said in a statement on…
Oil rises 2% on OPEC+ output plan, supply worries
PERTH/SINGAPORE: Oil prices climbed 2% on Monday after OPEC+ members reaffirmed a plan to hold output steady and as the Caspian Pipeline Consortium halted exports after a major drone attack and U.S.-Venezuela tensions raised concerns about supply.
Guyanese Oil on Long Voyage to India to Replace Russian Barrels
Two supertankers have begun hauling crude on a lengthy and unusual voyage from Guyana to India, as refiners in the South Asian nation snap up alternatives to sanctioned Russian crude. The journey of around 11,000 miles (17,700 kilometers)…
Phil Mickelson's oil scandal and crude 'Big Daddy Trump' messages hasten his fall from grace
Another insider deal scandal and another brick out of the wall in the ever more inexorable fall from grace of Phil Mickelson. That is the belief of the American's critics, anyway. Although as ever with the maverick left-hander, who as a golfer has…
Oil Rises After OPEC+ Reiterates Pause With Focus on Venezuela
Oil rose after OPEC+ confirmed it will stick with plans to pause production hikes during the first quarter, while traders weighed the fallout from President Donald Trump's rhetoric around Venezuela. Brent traded above $63 a barrel, and West Texas…
Scientists find a hidden obesity trigger in soybean oil
In a University of California, Riverside experiment, most mice fed a high-fat diet rich in soybean oil put on substantial weight. A separate group of genetically engineered mice did not, even though their diets were the same. These modified mice…
Poirot star Suchet plays oil 'villain' in Bristol-made short film - BBC News
Sir David Suchet has said that playing an oil company shareholder in a short film was 'really terrific' and 'so different from anything I've ever done'. Best known for playing hero detective Hercule Poirot in a long-running ITV series, Sir David…
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