Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
PHOTOS: Oil and gas drilling in the age of record production
Friendly policy from Republicans, including President Donald Trump's two administrations, has also allowed oil drilling to expand rapidly across the U.S. Many Americans might be familiar with the image of a pumping jack, a steel-and-iron structure…
Indonesian president to meet Putin in Russia for oil talks
Indonesia's President Prabowo Subianto will depart for Russia on Sunday for talks with counterpart Vladimir Putin on oil, Prabowo's office said. SCROLL TO CONTINUE WITH CONTENT The presidency in Jakarta confirmed to AFP that Prabowo would leave…
Task for the week: limit the fallout from biggest oil shock in decades | Richard Partington
The world's finance ministers and central bank governors gather in Washington this week for the half-yearly meetings of the International Monetary Fund and the World Bank, with the global economy in a perilous spot. Not since the foundation of the…
The Oil Market Is in the Grip of a Panicked Race for Barrels
While investors focused on the fragile Iranian ceasefire this week, a desperate scramble for cargoes has been playing out in the oil market, as traders and refiners scour the globe for immediately available supplies. In the North Sea, the world's…
Lessons learned in '70s have made US, world economies less vulnerable to oil shocks
The world economy is experiencing a disorienting flashback to the 1970s. Oil prices are once again surging in the wake of war in the Middle East, driving up the cost of gasoline, diesel and jet fuel and threatening a return to stagflation –…
Iran talks underway as Trump says America will be 'loaded up' with oil
President Donald Trump has declared that ships across the globe are heading to the United States to 'load up with oil', while revealing that official talks with Iran have commenced. Trump touted America's domestic oil and gas supply following a…
Oil price cap freeze raises concerns over market distortions, fiscal strain
The government's decision to keep the third-round oil price cap unchanged from the previous level is raising concerns over potential market distortions and mounting fiscal strain amid ongoing volatility in global oil prices linked to the Middle…
Saudi Arabia Says It Restored Key Oil Pipeline to Full Capacity
Saudi Arabia restored “full pumping capacity” to its East-West pipeline, the kingdom's primary crude oil export outlet, the Saudi energy ministry said on social media. The pipeline, which lost around 700,000 barrels of daily pumping…
Korea likely to avoid tapping oil reserves through May
Korea will be able to weather ongoing energy supply uncertainties without tapping oil reserves through April and May, Industry Minister Kim Jung-kwan said Sunday. The government has secured sufficient crude oil supplies, supplemented by voluntary…
Defence Forces respond to protest outside Irish oil refinery
An Irish Defence Forces heavy-lift recovery truck has arrived to assist police with a blockade outside an oil refinery, after days of protest strangled fuel distribution in the country. Garda have been attempting to restore access to the Whitegate…
Trump hails 'massive numbers' of empty tankers heading to US for oil
The Strait of Hormuz, the world's most critical oil chokepoint, has been the source of high energy prices around the world after the U.S. and Israel started attacking Iran in late February. Both sides of the conflict agreed to reopen the waterway…
Lessons learned in '70s have made US, world economies less vulnerable to oil shocks
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Fuel tankers regain access to Irish oil refinery after police clear protesters
Fuel trucks have regained access to an oil refinery that had been subjected to a days-long blockade after Irish police cleared protesters from the entrance. In a major operation involving scores of gardai, large tractors that had been blocking the…
Saudi Arabia says key oil pipeline back to full capacity after attacks
Saudi Arabia has restored the East-West oil pipeline to full capacity after attacks that curtailed output, according to officials. After repair work, the key pipeline is back to being able to pump approximately seven million barrels of oil a day…
Here's What the Futures Markets Are Saying About Oil and the Conflict in the Persian Gulf
It's always a good idea to look at what market data is telling you about the market consensus opinion on a matter, and right now, energy markets and the conflict in the Persian Gulf are front and center of investor concerns. Here's a look at what…
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