Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Former top state oil official disputes Masidi's claims on SMJ Energy's role
KOTA KINABALU: An ex-top Sabah oil and gas official has disputed claims by state Finance Minister Datuk Seri Masidi Manjun (pic) about the state's petroleum development timeline, calling them “misleading” and lacking historical…
Soybean Oil In The Biofuel Era: An Industry Expert's Perspective
On June 13, the U.S. Environmental Protection Agency (EPA) proposed higher biofuel blending requirements for 2026 and 2027 As the shift toward renewable fuels boosts soybean oil demand, Soybean Oilshare futures and options offer a streamlined…
Tourmaline Oil Corp. stock falls Friday, underperforms market
Shares of Tourmaline Oil Corp. TOU shed 0.80% to C$62.27 Friday, in what proved to be an all-around poor trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.22% to 27,023.25. Tourmaline Oil Corp. closed 12.1%…
Imperial Oil Ltd. stock rises Friday, outperforms market
Shares of Imperial Oil Ltd. IMO rallied 2.11% to C$112.89 Friday, in what proved to be an otherwise all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 0.22% to 27,023.25. Imperial Oil Ltd.
China's electric car revolution hammers demand for oil
Demand for oil faces a dramatic slowdown as China's electric car revolution pushes combustion-engine vehicles off the road, the International Energy Agency (IEA) has said. World oil demand will climb by just 700,000 barrels a day in 2025, for a…
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BP Sees Higher Oil Production, Trading Helping to Offset Lower Energy Prices
BP said it anticipates higher oil production and trading revenue in the second quarter, helping to offset falling fuel prices. The energy giant predicted upstream oil production will be higher than in the first quarter. BP and other energy firms…
Biscathorpe oil drilling consultation launched - BBC News
A campaign group is urging residents to have their say on the latest stage of a long-running legal battle over oil drilling in the Lincolnshire Wolds. The decision to approve an oilfield in Biscathorpe was quashed in July last year following a…
Crude oil futures close at $68.45
Up $1.88 on the day Greg Michalowski 11/07/2025 | 19:11 GMT Crude oil futures settled at $68.45, up $1.88 or 2.82% on the day. For the week, prices gained $2.13, marking a 3.2% increase. These gains come despite an unexpected rise in OPEC+…
Texans Keep Paying the Price for Oil and Gas Handouts
Climate change played a role in the devastating floods, and Texas is a national leader in subsidizing the fossils fuels that cause it. Texas is one of the nation's leading providers of welfare for the fossil-fuel industry. The trade-off is rising…
OPEC Predicts Soaring Oil Demand by 2050
The Organization of the Petroleum Exporting Countries (OPEC) on Thursday released an updated forecast for 2050 which anticipated soaring demand for oil in the medium and long term once China's economic outlook improves. According to OPEC's World…
California To Lose 17% Of Oil Refining Capacity: EIA
California could lose 17 percent of its oil refinery capacity over the next 12 months due to two scheduled refinery closures, the Energy Information Administration (EIA) said in a July 9 statement. In October, energy company Phillips 66 announced…
Saudis in Rare OPEC+ Breach by Lifting Oil Output Above Quota
Saudi Arabia, which has repeatedly scolded other members for over-production, raised its crude output far above its OPEC+ quota last month. The kingdom boosted production roughly 700,000 barrels a day to 9.8 million barrels a day. Other producers…
EU Edges Closer to New Price-Cap Regime for Russian Oil Trade
The European Union took a tentative step closer to a new price-cap regime on Russian oil that would aim to push the price of Moscow's barrels down even further and keep the pressure on in the future. Member states are considering a fresh proposal…
BP says lower oil prices will weigh on earnings
Today's FT, cover to cover on any device. This subscription does not include access to ft.com or the FT App FT Digital Edition Global news & analysis Expert opinion Special features Exclusive FT analysis Essential digital access to quality FT…
Global Oil Supply to Rise Faster Than Expected, IEA Says
Global oil supply is set to rise three times faster than demand this year, the International Energy Agency said in its closely watched monthly report. However, seasonal factors are keeping the market tight in the short term. The Paris-based agency…
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