Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Gov't asks oil industry to refrain from price hikes amid global energy price volatility
The industry ministry on Wednesday asked major oil companies to refrain from engaging in drastic price hikes amid recent volatility in global energy prices, officials said. The request was made during a meeting with four major domestic oil…
US oil industry doesn't see profit in Trump's 'pro-petroleum' moves
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) (THE CONVERSATION) As the Trump administration makes announcement after announcement about its efforts to promote the U.S. fossil fuel…
US oil industry doesn't see profit in Trump's 'pro-petroleum' moves
As the Trump administration makes announcement after announcement about its efforts to promote the U.S. fossil fuel industry, the industry isn't exactly jumping at new opportunities. Some high-profile oil and gas industry leaders and organizations…
Oil Edges Higher on Likely Technical Recovery
0119 GMT — Oil edges higher in early Asian trade on a likely technical recovery after oil futures posted back-to-back losses on Tuesday. Oil's recent losses come as a sell-off across refined products weighed on sentiment across the complex…
A Billion-Barrel Oil Glut Is Forming at Sea
A top commodities firm predicts a 'super glut' of oil in 2026 on weak demand and booming supply
The long-predicted 'super glut' of oil is expected to hit energy markets in 2026. Trafigura, one of the world's biggest commodities trading firms, said it believes the oil market will see a flood of new supply at a time when the demand outlook is…
Oil steadies ahead of Ukraine peace talks and Fed interest rate decision
LONDON: Oil prices steadied on Wednesday as investors watched for progress in Russia-Ukraine peace talks and awaited a decision on U.S. interest rates. After declines of about 1% in the previous session, Brent crude was up 7 cents, or 0.1%, at…
CPO output down 5.3%, palm oil exports fall 28.13% in Nov - MPOB
KUALA LUMPUR: Malaysia's crude palm oil (CPO) production slid 5.30 per cent month-on-month (m-o-m) to 1.94 million tonnes in November 2025 from 2.04 million tonnes in October 2025, according to the Malaysian Palm Oil Board (MPOB). Palm oil exports…
Large Indian Refiners Take Russian Oil as Reliance Avoids Trade
Four out of India's seven largest refiners are now in the market for Russian crude as deep discounts push buyers to seek out non-sanctioned barrels, even as heavyweight Reliance Industries Ltd. stays away. State-run Indian Oil Corp. and Bharat…
Wall Street Sees Modest Oil Price Decline Next Year on Surplus
Oil prices have had their worst year since the pandemic, and Wall Street believes the selling isn't over. Brent crude futures — trading near $62 a barrel — will slip further in 2026 to about $59, according to the average of forecasts…
Oil falls as focus turns to Russia-Ukraine peace talks, Fed
NEW YORK: Oil prices edged lower on Tuesday after falling 2% in the previous session, with investors keeping a close eye on peace talks to end Russia's war in Ukraine, concerns about ample supply and a looming decision on US interest rates. Brent…
Rosneft Oil Cargo Wanders For Weeks As Sanctions Mount
A cargo of crude oil from sanctioned Russian giant Rosneft has made an 11-week-long meandering trip around Europe and Asia in search of buyers and although it has anchored off a sanctioned Chinese import port, it's not certain it has reached its…
Oil Steadies After Two-Day Drop With Glut Concerns to the Fore
Oil held the biggest two-day drop in a month as concerns about global oversupply continued to weigh on sentiment. West Texas Intermediate rose above $58 a barrel after losing 3% over the previous two sessions, while Brent crude closed near $62. The…
Shell Is Said to Seek Partner for Brazil Offshore Oil Project
Shell Plc is looking to sell a 20% stake in a Brazilian oilfield cluster to help fund the multibillion-dollar offshore development, according to people familiar with the process.
Value addition boosts farming in oil-rich Albertine region
The Albertine Graben holds an estimated 6.5 billion barrels of oil, of which 1.4 billion barrels are considered technically recoverable, according to the Petroleum Authority of Uganda (PAU). Since the discovery of oil in this region, significant…
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