Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
OPEC+ keeps oil output policy unchanged for October
Sarote Pruksachat | Moment | Getty Images OPEC+ kept its oil output policy unchanged for October at a meeting on Sunday, it said in a statement, as the producer group needs to agree on new quotas before deciding its next output steps. The…
Bessent predicts oil prices could drop as low as $40 after Iran conflict ends and supply floods market
Treasury Secretary Scott Bessent predicted oil prices could fall to between $40 and $50 per barrel once the Iran conflict ends, arguing that abundant supply is poised to hit the market after constraints ease. Bessent asserted that the American…
Oil Surged, Then Slumped, Year to Date in 2026. Here's My Prediction for What's Ahead.
Brent crude, the global benchmark for oil, started the year at roughly $60 a barrel. Then the geopolitical conflict in the Middle East broke out, pushing crude oil prices to nearly $140 a barrel. After that spike, oil cooled off, losing around half…
OPEC+ set to keep oil output policy unchanged on Sunday, sources say
OPEC+ is set to keep its oil output policy unchanged for October at a meeting on Sunday, two people familiar with the discussions told Reuters, as the producer group needs to agree new quotas before deciding its next output steps. SCROLL TO…
Venezuela oil deal may be a win, but it shouldn't set a precedent
Eight months ago, American aircraft launched from 20 bases as a special operations team entered Caracas and removed Venezuelan President Nicolás Maduro from a fortified compound. Dozens of Venezuelan and Cuban personnel were killed. Congress…
ASX on edge as oil war rattles markets
Fresh military strikes between the US and Iran over the weekend threaten to push up energy prices and drag down the Australian sharemarket as investors brace for higher interest rates. The US launched strikes against three Iranian crude oil tankers…
Iran attacks naval drone near Hormuz after US strikes 3 oil tankers
Iran said on Sunday that its forces attacked a US naval drone trying to enter the Strait of Hormuz, hours after targeting ships in retaliation for American strikes on three oil tankers. The latest round of clashes, which began with US raids last…
Three Iranian oil tankers hit after US aircraft carrier targeted by Iran
US forces struck three Iranian oil tankers after Navy warships were targeted with ballistic missiles, the American military said. And officials warned that it would “if necessary, destroy Iran's limited and exposed oil fleet”. Experts…
OPEC, Allies Agree to Keep Oil Output Steady in October
Key members of the Organization of the Petroleum Exporting Countries and its allies agreed to hold oil production steady in October after six straight monthly increases, as the focus shifts to setting output quotas for next year. Sunday's decision…
OPEC+ keeps oil output policy unchanged for October
OPEC+ kept its oil output policy unchanged for October at a meeting on Sunday, it said in a statement, as the producer group needs to agree new quotas before deciding its next output steps. The meeting of seven core OPEC+ members —…
5 Stocks I Want If Oil Hits $100
Energy remains my top sector for 2026, with structural underweighting in the S&P 500 and compelling long-term rotation potential. Oil market dynamics are complex: inventory drawdowns, geopolitical risks, and inflation sensitivity create both upside…
The US-Venezuela oil deal: neo-Monroe Doctrine in action
US Venezuela oil deal. Illustration: Liu Rui/GT Almost nine months after the US deposed Venezuelan leader Nicolas Maduro, it struck a deal with Venezuela that would give the US a key role in the oil industry of Venezuela. The deal grants the US…
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Iran war live: Tehran attacks ships in Hormuz after US strikes Iranian oil tankers
Dan Haygarth6 September 2026 11:30 The Chancellor has warned that the Budget in the autumn could be tough, as US President Donald Trump's war in the Middle East affects the British economy. John Healey issued the warning amid the leap in Government…
Indian Stock Market Outlook: West Asia Conflict, Crude Oil, US Inflation Key Drivers
The Indian stock market is poised for a volatile week, with analysts highlighting the West Asia conflict, fluctuating crude oil prices, and crucial US inflation data as the primary forces that will dictate market direction and investor sentiment.
Iran retaliates after US strikes oil tankers
Vessels transit the Strait of Hormuz off the coast of the port city of Bandar Abbas in southern Iran on September 5, 2026. Iran said Sunday that its forces attacked a US naval drone trying to enter the Strait of Hormuz, hours after targeting ships…
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