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 agency lowers world oil demand forecast for the year
The International Energy Agency is lowering its world oil demand forecast for the year, noting that the war in Iran is leading to escalating fuel prices, limited oil supplies and a deteriorating economic outlook. The agency's report on Wednesday…
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…
Energy agency lowers world oil demand forecast for the year - TT
A tank farm at the Klesch oil refinery where diesel, gasoline and heating oil are produced in Gelsenkirchen, Germany, on Oct. 2. (Martin Meissner/AP) The IEA lowered its oil demand forecast, projecting global demand will fall 2.6 million barrels a…
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…
Energy agency lowers world oil demand forecast for the year
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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…
CFTC staff were told to retract analysis of suspicious oil trades
When U.S. President Donald Trump backed away from threats to strike Iranian power plants on March 23, it sparked a frenzy of buying and selling across oil, equities and other markets. Traders had grown accustomed to prices lurching wildly on…
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…
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…
Oil-rich Alberta tests Canada's unity with secession vote
Polling indicates less than a quarter of Alberta's roughly five million people want independence, but in an interview with AFP on Tuesday, a separatist leader insisted those numbers were off. 'I wouldn't be surprised if we actually win this…
June World Oil Production Rebounded
The World's June oil production rose by 4,386 kb/d to 78,371 kb/d due to the partial reopening of the Hormuz Straits and appears to be the beginning of a recovery in world oil production. Big 3's June oil production increased by 562 kb/d to 30,664…
Trump: 'Massive' oil, gas, mineral exploration set to begin in Greenland
President Trump announced early Wednesday that “massive” oil, gas and mineral exploration is “getting ready to begin” in Greenland. The president's brief post on Truth Social pointed to the Danish territory's plentiful…
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