Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

thehindu.com - Devyanshi Bihani - How Venezuela's oil collapse is plunging Cuba into energy and food crisis
How Venezuela's oil collapse is plunging Cuba into energy and food crisis
The Hindu

Among the nearly 100 people who died during the U.S. military incursion in Venezuela that led to the abduction of President Nicolas Maduro, there were 32 Cubans who were part of Mr. Maduro's security detail. Their presence reflects the intricate…

bloomberg.com - Julian Lee - Oil Market's Watchmen Are at Loggerheads Over 2026 Outlook
Oil Market's Watchmen Are at Loggerheads Over 2026 Outlook
Bloomberg

Oil traders seeking to plot the path for prices this year are juggling sharply different assessments of the supply-demand outlook, from a huge surplus to a broadly balanced market. The world's three main forecasting agencies — the…

wsj.com - Oil Edges Lower; May be Supported by Iran Tensions
Oil Edges Lower; May be Supported by Iran Tensions
Wall Street Journal

0113 GMT — Oil edges lower in the morning Asian session, but may be supported by Iran tensions that could lead to supply disruptions. Concerns are building over what may happen in Iran as U.S. naval assets move toward the Middle East, says…

bloomberg.com - Rakesh Sharma - Russia Oil's Unexpected Staying Power in India Extends Into 2026
Russia Oil's Unexpected Staying Power in India Extends Into 2026
Bloomberg

For much of last year, discounted Russian oil made up the lion's share of Indian purchases, a financial lifeline for Moscow that also shaved billions off New Delhi's import bill. Then came US threats, tariffs, sanctions — and months of…

thestar.com.my - ZAKIAH KOYA - Well-oiled app gains traction
Well-oiled app gains traction
The Star Online

PETALING JAYA: More than 2.2 million people have signed up for the Cooking Oil Price Stabilisation Scheme System (eCOSS) app which allows Malaysians to buy the 1kg subsidised packet cooking oil. The eCOSS app, developed by the Domestic Trade and…

bloomberg.com - Nariman Gizitdinov - Oil Majors Lose Kazakh Field Dispute Worth as Much as $4 Billion
Oil Majors Lose Kazakh Field Dispute Worth as Much as $4 Billion
Bloomberg

The oil majors that operate the Karachaganak field in Kazakhstan lost an international arbitration case, leaving them liable to pay as much as $4 billion in compensation to the country's government, according to people familiar with the matter. The…

bloomberg.com - Nathan Risser - US Deep Freeze Wreaks Havoc on Texas Oil Producers and Refiners
US Deep Freeze Wreaks Havoc on Texas Oil Producers and Refiners
Bloomberg

A massive winter storm that swept the US over the weekend crippled oil and gas producers and the industrial plants that refine the raw commodities into everything from gasoline to plastics. Refinery flares lit up the Houston Ship Channel late…

thestar.com.my - Oil slips even as US winter storm curbs crude output
Oil slips even as US winter storm curbs crude output
The Star Online

OIL prices fell on Tuesday even as a massive winter storm hit crude production and affected refineries on the U.S. Gulf Coast. Brent crude futures fell 28 cents, or 0.4%, to $65.31 a barrel at 0145 GMT. U.S. West Texas Intermediate crude was at…

thehill.com - Rachel Frazin - California sues Trump administration over approval of oil pipelines near coast
California sues Trump administration over approval of oil pipelines near coast
The Hill

California sued the Trump administration over its approvals for oil pipelines near the state's coast amid the White House's broader push for more drilling there. California is arguing that the Trump administration's moves to restart the pipelines…

thestar.com.my - Aidana - Tengizchevroil resumes output in phases after fire at oil field in western Kazakhstan
Tengizchevroil resumes output in phases after fire at oil field in western Kazakhstan
The Star Online

World ALMATY, Jan. 26 (Xinhua) -- Kazakhstan-based oil producer Tengizchevroil (TCO) on Monday announced a phased resumption of crude oil production at its fields in the Atyrau region in western Kazakhstan following a fire at the Tengiz oil field…

bloomberg.com - Lucia Kassai - Chevron Amasses Largest Fleet in Almost a Year to Ship Venezuelan Oil
Chevron Amasses Largest Fleet in Almost a Year to Ship Venezuelan Oil
Bloomberg

Chevron Corp. has assembled its largest fleet of vessels in almost a year to ship Venezuelan crude, after the US moved to exert control over the country's oil sector following the capture of leader Nicolas Maduro. The oil major, which holds a…

bloomberg.com - Kazakhstan's Giant Tengiz Oil Field Prepares to Restore Output
Kazakhstan's Giant Tengiz Oil Field Prepares to Restore Output
Bloomberg

Kazakhstan's largest oil producer is preparing to resume output at the giant Tengiz field, a further step to normalize the nation's supply to global markets after a series of disruptions in recent months. The safe restart of the power supply system…

bloomberg.com - Grant Smith - Oil Steadies as Traders Weigh US Cold Snap, Kazakh Resumption
Oil Steadies as Traders Weigh US Cold Snap, Kazakh Resumption
Bloomberg

Oil steadied as a winter storm pounded swaths of the US with snow, ice and freezing temepatures, spurring increased heating demand and disrupting refineries, while traders also assessed the supply outlook in OPEC+ nations Kazakhstan and Iran. West…

bloomberg.com - Ukraine Says It Attacked Small Oil Refinery in Southern Russia
Ukraine Says It Attacked Small Oil Refinery in Southern Russia
Bloomberg

Ukraine said it hit a small oil refinery in southern Russia, the third attack this month on its foe's fuel-producing industry. Explosions were recorded at the territory of the Slavyansk facility after Ukrainian drones struck it overnight and hit…

zerohedge.com - Tyler Durden - Saudi Aramco Dismisses Oil Glut Narrative As 'Seriously Exaggerated'
Saudi Aramco Dismisses Oil Glut Narrative As 'Seriously Exaggerated'
Zero Hedge

Forecasts of a massive oil glut are seriously exaggerated as demand keeps rising and global stocks are below the five-year average, according to Saudi Aramco's chief executive officer, Amin Nasser. “Oil glut predictions are seriously…

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