Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
SNP leaders are good 'friends' to North Sea oil industry
Environment Former oil and gas worker Gordon told Socialist Worker that small firms are ‘manoeuvring to milk the last profits from the declining reserves in the North Sea' Downloading PDF. Please wait... As forests in Scotland burn, Scottish…
Trump says oil companies should cut gas prices after making 'too much money'
President Trump on Monday urged U.S. oil companies to take action to ease gasoline prices, saying that the energy giants 'made too much money' from high oil prices due to the Iran war. Mr. Trump's remarks come as Brent crude, the international…
Big Oil's Big Wartime Profits
Never miss an episode. Follow The Big Take daily podcast today. US crude prices fell below $80 for much of the day Monday as oil traders factored in a potential deal to reopen the Strait of Hormuz. But even as reports of imminent peace deals or…
Trump renews call for oil companies to cut gas prices as he blasts Chevron CEO
President Donald Trump has renewed his call for oil companies to reduce gasoline prices for American consumers, taking aim at Chevron CEO Mike Wirth for what he perceived as a lack of credit for his administration's support of the industry. Trump's…
The EU cannot break free of Russian oil
In his 2016 book Blood Oil: Tyrants, Violence, and the Rules that Run the World, the American philosopher Leif Wenar argues that oil is a curse in an almost literal sense. Wars had been waged, lives lost, the democracy and development of dozens of…
OPEC+ To Rollback All 'Voluntary' Oil Production Cuts In September
The logo of the Organization of the Petroleum Exporting Countries (OPEC) at its secretariat building in Vienna, Austria (Photo: Alexander Klein). Oil producers group OPEC+ announced a complete unwinding of its members' 'voluntary' production cuts…
Bankrupt Britain needs to tap into North Sea oil gold, says Donald Trump
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. Donald Trump has said he thinks he and Andy…
Dow surges to record close after fresh tech rally and a plunge in oil prices
The Dow closed at a record on Monday, with stocks rallying and crude prices tumbling to start the month. Major indexes were sharply higher after the Donald Trump said he called off an attack on Iran and that peace talks were set to resume. The…
Georgia's Sanctioned Refinery Starts Shift to Non-Russian Oil
The owner of Georgia's sole oil refinery said it will complete a shift to processing only non-Russian crude by the end of September after the European Union imposed sanctions last month. The Kulevi refinery started processing Kazakh crude in early…
Energy Dept. draws fire for slow pace of Venezuelan oil deals
Nearly eight months after President Trump predicted U.S. companies would 'rapidly rebuild Venezuela's dilapidated oil industry' to boost production, no new petroleum deals have been finalized there with American firms. The U.S. Department of Energy…
US Futures Climb as Focus Shifts Back to Earnings, Oil Slides
US stock futures rose into the first trading day of the month as attention turned to this week's heavy slate of earnings reports. S&P 500 futures advanced 0.6% at 7:49 a.m. in New York, while Nasdaq 100 contracts were 0.2% higher as top…
Oil prices drop after Trump cancels strikes on Iran amid peace talks
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 dropped to a three-week low after Donald…
Threat to oil tankers in Middle East worst since start of Iran war, analysts say
The threat to ships carrying oil in the Middle East is at its worst since the Iran war started, experts have said, after a spate of attacks on another key route in the region. The warning comes after a number of attacks on vessels in the Red Sea…
Kuwait July Oil Output Rose to Highest Since Mideast War Began
Kuwait's crude oil production climbed by almost 20% last month to the highest average level since the start of the Iran war, according to data from officials. Output rose to 1.97 million barrels a day in July, up about 300,000 barrels a day from…
Oil prices drop 5% to 3-week low after Trump cancels attack on Iran
NEW YORK — Oil prices fell about 5 percent to a three-week low on Monday after U.S. President Donald Trump held off on a fresh attack on Iran in the hope of sealing a quick deal that could boost oil supplies from the Gulf. Brent futures fell…
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