Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Britain faces 'global oil shortage and soaring energy bills' this winter
Britain is set to face soaring electricity bills and knock-on effects from global fuel shortages this winter thanks to the conflicts in the Middle East and Ukraine. While the UK's energy price cap is already set to rise by 4% on October 1, new…
Oil exploration in Brazilian Amazon offers wealth but puts communities at risk
Indigenous Chief Wagner Karipuna gazes worriedly at the tranquil river flowing past his village in the Brazilian Amazon as he imagines the nightmare scenario of an oil spill being carried here by the tides. His village, Manga, is located around 20…
Chevron (CVX) Supercharges its Venezuela Bet with More Oil Rigs
Chevron Corporation (NYSE: CVX) is about to significantly expand its operations in Venezuela. The company's CFO, Eimear Bonner, revealed at a Barclays conference on September 8 that the American oil giant plans to more than double the number of oil…
Oil falls as crude flows remain 'surprisingly strong
'Middle East oil flows remain surprisingly strong despite the disruption to Saudi Arabia's East-West pipeline,' according to JPMorgan analysts in a Sept. 18 note. Mideast tensions continue to escalate following attacks by Iran-backed Houthis on…
The Next Inflation Shock: $1 Million-a-Day Oil Tankers
Former President Bill Clinton once said that when a crisis breaks out, the first thing everyone in Washington asks is, “Where is the nearest [aircraft] carrier?” That remains a critical question as the US faces off against Iran in the…
Oil Declines as Concerns Over Extended Supply Disruptions Ease
0024 GMT — Oil declines in early Asian trade. Initial concerns over extended disruptions to pipeline flows from Saudi Arabia seem to be easing, say ANZ Research analysts in a note. The country said that it expects the East-West pipeline to…
3 dead in Moscow region, drones hit oil refinery in Russian capital
The largest Ukrainian drone attack reported so far on the Moscow region killed three people and damaged part of an oil refinery in the capital, authorities said on Sunday, as Russia votes in the final day of parliamentary elections. SCROLL TO…
A Shortage of Oil Tankers Is Threatening to Keep Gas Prices High
The Iran war has created a new shortage on the oil market. This time the scarce commodity isn't just crude—it is the ships that carry it. Drone attacks that shut Saudi Arabia's bypass pipeline earlier this month have forced more crude back…
Costco is rationing oil. That should worry global investors
It's hard to know where to look right now: the only story that matters for equity markets, or the only story that matters for bond markets. Let's start with the latter, where the unrelenting run of bad news on oil just won't stop.
The Best Way to Discard Frying Oil? Don't
There's no denying the appeal of deep-fried foods, from donuts to drumsticks, plus numerous bite-sized appetizers and every kind of potato. But when it comes to whether to bother deep-frying at home, it isn't necessarily a matter of difficulty.
Stockpile crunch threatens to send oil price towards $US150 a barrel
Oil could surge towards $US150 a barrel as traders see an increasing risk of shortage months after the outbreak of war between the United States and Iran, as inventories shrink to between just five and 10 weeks. The price of benchmark Brent crude…
Asia Stocks Rise on AI Demand as Oil Eases
Asian stock markets edged higher on Monday as strong demand for artificial intelligence infrastructure supported semiconductor shares, while oil prices eased despite heightened Middle East tensions following a Houthi attack on Riyadh. Trading…
Oil Prices Rise as Houthi Strikes on Riyadh Fuel Middle East Tensions
Oil prices climbed on Monday as renewed Houthi missile and drone attacks on Saudi Arabia's capital, Riyadh, intensified concerns over escalating Middle East tensions and potential risks to regional energy supplies. Brent crude futures gained 81…
Big Oil Backs Mazama's $135 Million Bet On Superhot Geothermal
Mazama Energy announced $135 million in new capital with an oversubscribed Series B that included ConocoPhillips and Shell Ventures. With Devon Energy initially backing Fervo in 2023, a pattern is emerging with oil and gas veterans placing their…
Oil prices face upside risks as global supply disruptions deepen
Oil prices face further upside risks in the coming months as a combination of geopolitical disruptions, constrained shipping, reduced refining capacity and declining inventories leaves global oil markets increasingly tight, Morgan Stanley said in…
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