Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump revives spotlight on California offshore oil project
President Donald Trump reignited his administration's ongoing energy dispute with California in a Truth Social post on Sunday, highlighting a previous executive order designed to restart oil operations tied to the Sable Pipeline and significantly…
OPEC+ To Rollback All 'Voluntary' Oil Production Cuts In September
The logo of the Organization of the Petroleum Exporting Countries (OPEC) at its secretariat building in Vienna, Austria (Photo: Alexander Klein). Oil producers group OPEC+ announced a complete unwinding of its members' 'voluntary' production cuts…
Oil Slumps, US Futures Rise on Iran Talks Optimism: Markets Wrap
Oil dropped, US equity futures rose and the dollar slipped after President Donald Trump said fresh US-Iran talks would begin Monday, boosting optimism the two sides could reach a deal to reopen the Strait of Hormuz. S&P 500 contracts climbed in…
Oil Prices Fall Amid Hopes of Possible U.S.-Iran Deal
2337 GMT — Oil prices are lower in early Asian trade amid hopes of a possible U.S.- Iran deal that could ease supply disruptions. President Trump told reporters Sunday that the U.S. will engage in talks with Iran starting Monday afternoon.
Investors scored on Iran war's oil market boom. Staying long the trade will get trickier
Blowout earnings from Exxon Mobil, Chevron and Valero Energy this past week showed how the U.S.-Iran war created massive short-term profits in oil. ETFs targeting oil refiners and crude oil price volatility were among big winners over the past six…
3 Bold Oil Predictions for the Second Half of 2026
The geopolitical conflict in the Middle East has cycled through peace talks and renewed conflict. It appears there won't be an easy solution, which isn't exactly shocking. However, the conflict has material implications for the world, given the…
Chevron CEO warns Iran conflict has created 'very real' threat to global oil supplies as gas prices climb
Chevron CEO Mike Wirth warned of 'very real' dangers for the global oil industry as tensions escalate in Iran and Houthi attacks on Saudi oil facilities fuel concerns over a potential new shipping crisis. His comments come as oil prices climb…
Oil Slumps as Trump Holds Off Iran Attack as Talks to Resume
Oil fell after US President Donald Trump said new talks with Iran would begin on Monday after he called off a planned attack on the Islamic Republic. Brent for October fell as much as 7.3% to $81.55 a barrel, after futures surged almost a quarter…
Ukraine says major Russian oil refinery and airfield hit, as Moscow reports eight deaths
Ukraine has said it carried out overnight strikes deep inside Russia, hitting a major oil refinery and an airfield that houses Russian strategic aviation. President Volodymyr Zelensky said the Engels airfield and the refinery, both in the Saratov…
Oil drops over 4% after Trump calls off planned strike on Iran
Oil prices fell after U.S. President Donald Trump said he had called off a planned strike on Iran. 'We have just been asked by Iran, and other Middle Eastern Countries, to hold off any attack in that the perimeters of a deal has been agreed to,'…
OPEC, Allies Increase Oil Output for Sixth Time in a Row
The Organization of the Petroleum Exporting Countries and its allies pressed ahead with another oil production increase, a move that would complete the group's planned return of voluntarily withheld barrels to the market while setting the stage for…
OPEC agrees September oil hike, completing rollback of voluntary cuts
Jonathan Raa | Nurphoto | Getty Images OPEC+ approved an oil production quota increase on Sunday of around 188,000 barrels per day from September, the producer group said, in a move that completes the unwinding of a layer of voluntary output cuts.
OPEC+ Makes Small Quota Hike to Finish Unwinding 2023 Oil Cuts
Major OPEC+ nations approved the latest small increase to their production quotas, a move that will complete the theoretical revival of supplies halted in 2023 and give them scope to add more barrels once the Middle East war ends. Seven members led…
Satellite images show evidence of oil leak spreading from sanctioned vessel near Oman
A sanctioned tanker loaded with crude is leaving a growing trail of oil in protected waters off the coast of Oman, according to newly reviewed satellite images, as experts warn the stranded vessel could break apart during the region's rough monsoon…
OPEC+ agrees to September oil hike, completing rollback of voluntary cuts
OPEC+ approved an oil production quota increase on Sunday of around 188,000 barrels per day from September, the producer group said, in a move that completes the unwinding of a layer of voluntary output cuts. Due to export disruptions from the…
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