Oil Industry News

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digitaljournal.com - AFP - Asian markets mixed as tech recovery stutters, oil slips
Asian markets mixed as tech recovery stutters, oil slips
Digital Journal

Asian markets fluctuated Monday as investors struggled to maintain last week's late tech recovery, with traders turning their focus to the upcoming earnings season, while oil prices fell on further supplies passing through the Strait of Hormuz.

bloomberg.com - Matthew Burgess - Oil Edges Lower on OPEC Increase, Dollar Steady: Markets Wrap
Oil Edges Lower on OPEC Increase, Dollar Steady: Markets Wrap
Bloomberg

Oil opened lower as energy flows through the Strait of Hormuz persisted and OPEC+ signaled higher supplies. Traders were also focused on the Korean won's first day of 24-hour trading. S&P 500 futures held Friday's gain after US markets were shut…

japantimes.co.jp - Weilun Soon - Oil, gas tankers cross Hormuz via Oman-side route after U-turns
Oil, gas tankers cross Hormuz via Oman-side route after U-turns
The Japan Times

Oil and gas shipping along a U.S.-protected corridor in the Strait of Hormuz showed signs of recovering Sunday, a day after a batch of vessels performed unexplained U-turns and detours in the vital energy corridor. Six oil and gas freighters were…

thestandard.com.hk - The Standard 英文虎報 - Oil slips after OPEC+ agrees to raise output targets
Oil slips after OPEC+ agrees to raise output targets
The Standard

Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August, while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies. SCROLL TO CONTINUE WITH…

yahoo.com - Maham Fatima - Diamondback Energy's (FANG) Viper Energy Completes Acquisition of Riverbend Oil & Gas IX Assets
Diamondback Energy's (FANG) Viper Energy Completes Acquisition of Riverbend Oil & Gas IX Assets
Yahoo!

Diamondback Energy Inc. (NASDAQ: FANG) is one of the 10 Most Undervalued NASDAQ Stocks to Buy Right Now. On July 1, Viper Energy, a subsidiary of Diamondback Energy, announced the completion of its acquisition of Riverbend Oil & Gas IX, LLC. The…

yahoo.com - Jake Conley - The Strait of Hormuz has reopened - why that might be a problem for the oil market: Chart of the Day
The Strait of Hormuz has reopened - why that might be a problem for the oil market: Chart of the Day
Yahoo!

As the war has wound down and the US and Iran continue ongoing negotiations, ship traffic through the Strait of Hormuz has begun to pick up, sending increasing amounts of oil to the global market that has been starved for it. That might be a…

cnbc.com - Reuters - Oil slips after OPEC+ agrees to raise output targets
Oil slips after OPEC+ agrees to raise output targets
CNBC

Zhang Fengguo | Xinhua News Agency | Getty Images Oil prices inched lower on Monday after OPEC+ agreed to further increase its output targets from August while exports from key producers via the Strait of Hormuz are recovering, potentially adding…

aljazeera.com - John Power - OPEC+ countries say they will expand monthly oil production
OPEC+ countries say they will expand monthly oil production
Al Jazeera

OPEC+ members have announced plans to boost oil production as energy markets show tentative signs of recovery amid the fallout of the US-Israel war on Iran. OPEC+ said on Sunday that seven member countries – Saudi Arabia, Russia, Iraq…

independent.co.uk - Yuri Kageyama - US futures and Asian shares are mixed while oil prices decline as some exporters opt to raise output
US futures and Asian shares are mixed while oil prices decline as some exporters opt to raise output
The Independent

Asian shares and U.S. futures were mixed on Monday following a long weekend on Wall Street, while selling of technology shares pulled benchmarks in Tokyo and Seoul lower. Oil prices slipped after OPEC+ announced Sunday that seven of its members…

bloomberg.com - Trump to Meet Zelenskyy at NATO, Oil Slips on Hormuz Flow, More
Trump to Meet Zelenskyy at NATO, Oil Slips on Hormuz Flow, More
Bloomberg

Bloomberg News Now • Browse all episodes Listen for the latest from Bloomberg News…

rediff.com - Nandita Malik - Indian Stock Market: Crude Oil, Global Trends, TCS Q1 Earnings to Drive Sentiment
Indian Stock Market: Crude Oil, Global Trends, TCS Q1 Earnings to Drive Sentiment
Rediff.com

The Indian stock market is poised for a dynamic week, with crude oil prices, global economic indicators, and the highly anticipated Q1 earnings report from IT giant TCS on July 9 set to significantly influence trading sentiment. Indian stock market…

yahoo.com - WYATTE GRANTHAM-PHILIPS - 7 OPEC+ countries agree to expand monthly oil production modestly as prices slide
7 OPEC+ countries agree to expand monthly oil production modestly as prices slide
Yahoo!

NEW YORK (AP) — A handful of countries in the OPEC+ oil-producing alliance plan to increase their outputs modestly next month, which would bring more oil online after fuel prices have fallen to levels not seen since before the U.S. and…

wsj.com - Oil Falls, Weighed by OPEC+ Decision to Increase Output Again
Oil Falls, Weighed by OPEC+ Decision to Increase Output Again
Wall Street Journal

2335 GMT — Oil falls, weighed by the OPEC+ decision to increase output again. After a virtual meeting on Sunday, the group said it would hike production by about 188,000 barrels a day in August, marking fifth consecutive monthly increase.

cnbc.com - Justina Lee - Why Iran may find it difficult to clear its oil inventories even after sanctions relief
Why Iran may find it difficult to clear its oil inventories even after sanctions relief
CNBC

World's top crude importer, China, has not been enthusiastic about oil purchases. Oil supply is also expected to increase following OPEC+ agreement to add 188,000 barrels a day to their output target for August. Middle East conflict has 'sharpened…

wsj.com - Georgi Kantchev - A Sudden Glut of Oil Threatens to Weaken Iran's Hand in Talks
A Sudden Glut of Oil Threatens to Weaken Iran's Hand in Talks
Wall Street Journal

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