Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Venezuela's Oil Riches Are Years Off, but Winners and Losers Will Emerge
President Trump's ambitious plans for transforming Venezuela's oil production will most likely take years to revive the country's troubled industry — if they succeed at all. But it's already clear that winners and losers will emerge from the…
Oil Futures Edge Lower on Likely Technical Correction
0103 GMT — Oil futures edge lower in early Asian trade on a likely technical correction after the futures settled overnight at their highest level since late October. However, price losses are expected to be limited by some developments…
TotalEnergies CEO Echoes Exxon's Caution on Venezuela Oil
Reviving Venezuela's oil industry will take years and cost billions of dollars, limiting the country's impact on global markets in 2026, according to TotalEnergies SE boss Patrick Pouyanne. President Donald Trump is exhorting American oil firms to…
Fears are brewing over an oil-price shock that could rattle markets and the economy
Soaring oil prices. Hot inflation. Turmoil in markets. That was a dire combination the US economy saw in the 1970s, but analysts say that the risks of another oil price shock — a situation where oil prices abruptly surge and set off a domino…
TotalEnergies CEO Echoes Exxon's Caution on Venezuela Oil - TT
Patrick Pouyanne doubts whether Venezuela would be significant for the oil market this year. (F. Carter Smith/Bloomberg) [Stay on top of transportation news: Get TTNews in your inbox.] Reviving Venezuela's oil industry will take years and cost…
Oil prices jump after Trump threatens Iran tariffs - latest updates
Global central bank officials are understood to be working on a statement to express support for Jerome Powell after the Trump administration opened a criminal investigation into him. The joint statement is expected to be issued…
Coups, uprisings and oil wars: strap in for a turbulent year
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. Even by recent standards it has been an unsettlingly…
Why unlocking Venezuelan oil won't mean much for US energy prices
In the wake of U.S. forces' arrest of Venezuelan President Nicolás Maduro, U.S. President Donald Trump has said the U.S. is taking over Venezuelan oil production. In addition, the U.S. has blockaded Venezuelan oil exports for a few weeks and…
India's palm oil imports drop to 8-month low as refiners shift to rival oils
MUMBAI, Jan 13 (Reuters) - India's palm oil imports fell to an eight-month low in December, as refiners increased purchases of rival oils such as soyoil and sunflower oil amid weaker seasonal demand during the winter months, a…
Map shows how Iran's oil reserves compare to rest of world
Iran sits on the world's third‑largest proven oil reserves, recent data shows, with a Newsweek map illustrating how its resources stack up on a global scale. Iran's vast oil reserves have positioned the country as a central player in global…
Russia working to circumvent sanctions to ensure India oil imports continue
Russia is already working to circumvent the latest US sanctions to ensure India can continue to import high levels of cheap Russian crude oil, according to industry analysts. Since the outbreak of the Ukraine war, India has become the world's…
Oil prices rise on potential Iran supply disruption
NEW YORK/LONDON: Oil prices surged by more than 2% on Tuesday as the prospect of disruptions to Iranian crude exports overshadowed possible increased supply from Venezuela. Brent futures jumped by US$1.60, or 2.5%, to settle at US$65.47. US West…
Will Trump's Iran tariffs send China searching for new oil sources?
Washington's secondary sanctions on countries trading with Iran are likely to push up China's oil import costs in the short term and send a dire warning to Beijing's policymakers, who analysts said need to urgently find ways to protect the…
Two Oil Tankers Attacked Near Key CPC Loading Terminal
Two oil tankers were attacked near the Black Sea loading terminal for the Caspian Pipeline Consortium, according to a person familiar with the matter. The two ships — the Delta Harmony and the Matilda — were due to load oil barrels…
How Upheaval in Iran Could Affect Oil Prices
This article is for subscribers only. Welcome to the award-winning Money Distilled newsletter. I'm John Stepek. Every week day I look at the biggest stories in markets and economics, and explain what it all means for your money. As investors, we're…
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