Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Dearth Of Reliable Data Plagues Crude Oil Market Assessments
This voice experience is generated by AI. Learn more. This voice experience is generated by AI. Learn more. Global crude oil markets are plagued by confusion due to unreliable data, hindering accurate assessments by analysts and companies. U.S.
Diamondback Energy: Strong Oil Leverage And Low Production Costs (NASDAQ:FANG)
Diamondback Energy (FANG) is rated Strong Buy, with a DCF-based target price of $290 per share, implying ~45% upside. FANG's low production costs ($25.09/BOE) and efficient capital allocation underpin robust free cash flow, even under conservative…
Daily on Energy: How much did Trump's third oil and gas lease sale for the Gulf of America generate?
The Trump administration held its third offshore lease sale for oil and gas drilling in the Gulf of America this morning, drawing weaker bidding and less than a third of the revenue generated from the first auction last year. The details: The sale…
Greenland forces Trump-linked US oil firm to delay drilling
The Greenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president's envoy that Americans could be extracting crude by next year. Amid Trump's…
Oil dips on demand forecasts, global equities gain
By Chris Prentice and Samuel Indyk NEW YORK/LONDON, Aug 12 (Reuters) - Global equities were higher on Wednesday after mild inflation data reinforced bets the Federal Reserve will hold interest rates steady, while oil prices dipped as investors…
Oil Flows Normalizing? Not So Fast.
The Trump Administration says Middle East oil flows are normalizing; shipping data and industry analysts point to a wholly different conclusion. 'Total oil flows are currently averaging approximately 15 million barrels per day' in the region…
IEA Sees Wider Oil Supply Deficit Despite Hit to Demand From War
Global oil inventories will tumble this quarter at more than twice the rate previously estimated as the Iran war flares again, even as the hit to demand from high prices deepens, the International Energy Agency said. Oil markets face a shortfall of…
Oil Gains as Hopes for Hormuz Reopening Ebb
The U.S. military said one of its helicopters fired on a Panama-flagged ship that tried to break the American blockade of Iranian ports early Tuesday. The U.S. is attempting to force Tehran to make a deal to end the war by starving it of oil…
The Oil Supply Crunch is Worsening as Iran Conflict Drags On
Global oil markets are experiencing more supply constraints than expected as the Iran conflict drags on. The world faces a shortfall of 1.8 million barrels a day this quarter, according to the International Energy Agency. That's more than double…
Global stocks inch up, oil steady before US CPI
By Samuel Indyk and Rocky Swift LONDON, Aug 12 (Reuters) - Global equity markets edged higher and oil prices steadied after talks to end the Iran war hit an impasse and markets turned their attention to U.S. inflation data later in the day. Traders…
Third Trump Gulf of America offshore oil and gas lease auction draws weak bidding
The sale had offered just over 15,000 unleased blocks in the western, central, and eastern areas of the Gulf, spanning roughly 80.4 million acres. The blocks ranged from 3 to 231 miles offshore, with depths reaching more than 11,115 feet. Sixteen…
Iran Battles Oil Spill Near Key Persian Gulf Island of Qeshm
Iran is battling an oil spill off Qeshm Island, underscoring the environmental risks posed by attacks on tankers in the Persian Gulf. Satellite images show a dark, elongated trail in waters off the coastal village of Shib Deraz — a breeding…
Global oil supply under threat as Iran war sees stockpiles plummet
The International Energy Agency has warned that global oil stockpiles are rapidly depleting amid the Iran war. The global energy watchdog has urged a deal to reopen the Strait of Hormuz, saying that the “urgency” of such an agreement…
Oil Tanker Seen Loading at Key Saudi Hub for First Time in Weeks
A supertanker is moored at Saudi Arabia's main oil export terminal inside the Persian Gulf, the first such sighting in almost a month, as the kingdom strives to maintain shipments after threats to its exports were extended to the Red Sea. A…
Oil supply crunch worsens as Iran war escalates, IEA says - TT
Oil storage tanks in Yokohama, Kanagawa Prefecture, Japan. (Toru Hanai/Bloomberg) The IEA said renewed Iran war disruptions widened the current-quarter global oil supply deficit to 1.8 million barrels a day, more than double earlier forecasts.
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