Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Nine big oil firms on track to share more than £95bn profit two quarters in a row
The world's biggest oil companies are on track to amass profits of more than $95bn (£71bn) in the third quarter as the war in the Middle East drives up the price of fossil fuels. The windfall war profits have sparked calls for oil…
Ukraine defies Trump to resume attacks on Russian oil refineries
Ukraine has resumed its attacks on Russian oil refineries in defiance of pressure from Donald Trump ahead of the US midterm elections, with a ceasefire in the occupied town of Oleshky due to end late on Sunday. Russian state media said on Sunday…
Goldman Hikes Oil-Price Forecasts on 'Substantial' Supply Risks
Goldman Sachs Group Inc. raised oil-price forecasts for the year-end and 2027 on elevated risks to supplies, joining other banks in hiking their outlooks after months of war in the Middle East. Brent is now seen at $105 a barrel in December, up…
Oil Drops Amid Diplomatic Efforts to Revive Mideast Peace Talks
0000 GMT — Oil prices drop amid recent diplomatic efforts to revive peace negotiations between Washington and Tehran. U.S. Vice President JD Vance sent a message to Mohsen Rezaei, secretary of Iran 's Supreme National Security Council, in an…
Goldman raises oil price forecast for December and 2027. Here's why
Goldman Sachs is raising its price forecast for oil in December and 2027, citing a high supply disruption risk due to the conflicts between Russia and Ukraine, as well as in the Middle East. Markets are pricing in a higher risk premium, as many…
Asian shares mostly advance but tech stocks remain volatile, while oil sinks 3.3%
Asian shares were mostly higher Monday but technology stocks remained volatile, while oil prices fell more than 3%. U.S. futures edged higher after Wall Street fell Friday to its worst day since June as investors dumped technology- and artificial…
Oil prices fall amid reports that the U.S. and Iran are both seeking diplomacy
U.S. Secretary of State Marco Rubio said that Trump prefers not to use military force and would like to resolve the Iranian war 'diplomatically.' Iranian authorities also signaled that a deal is still possible, following two days of talks mediated…
Stock Market Forecast: Geopolitics, Oil Prices, Q2 Earnings, US Midterms
Indian stock markets are poised for a dynamic week, with analysts predicting that geopolitical tensions, particularly concerns surrounding renewed US-Iran conflict, fluctuating crude oil prices, and the ongoing quarterly earnings season will be the…
Everything changed for the oil, AI and bond trades over the past month
Oil futures have risen over the past month, but breaking with what had been an 80% correlation this year, treasury yields declined during the same time period. What changed? The decline in the leading artificial intelligence stocks, the Mag 7…
Oil Prices Fall More Than 3% as Iran Peace Talks Ease Supply Fears
Oil prices dropped more than 3% on Monday as renewed diplomatic efforts to end the conflict between the U.S. and Iran eased concerns over Middle East oil supplies, reversing some of last week's gains. Brent crude futures for January delivery fell…
Oil Futures Fall as Later Quote Panel Shows Losses Above 3%
Oil futures were lower in two early Monday readings as traders tracked possible U.S.-Iran diplomacy and attacks on Gulf shipping, with a later quote panel showing steeper losses than Reuters' earlier snapshot. At about 11:30 p.m. ET Nov. 1 (04:30…
Europe Is Now Seriously Rethinking Its Oil Refinery Phase-Down
Europe has shut down roughly a quarter of its refineries over two decades, increasing dependence on imported fuels and exposing the bloc to geopolitical supply disruptions. The latest energy crisis has added over €100 billion to Europe's…
Reliance Sets Quarterly Profit Record as Oil-to-Chemicals Earnings Surge
Reliance Industries' record Oil-to-Chemicals (O2C) performance helped lift consolidated profit 33.8% to ₹29,550 crore ($3.1 billion) for the quarter ended Sept. 30, cushioning weakness in retail. The unaudited results received board approval…
Russia suffers 'deadliest month of war' as Kyiv hits missile plant and oil refinery
Russia has suffered its deadliest month of the war in Ukraine since it began four years ago, according to figures released by Kyiv, as Ukrainian forces launched overnight strikes against a major Russian missile plant. Ukrainian military officials…
Asian shares mostly advance but tech stocks remain volatile, while oil sinks 3.3%
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