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's Iran war brings on record oil company profits
Get your news from a source that's not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily. The US oil industry has earned almost $130 billion in profits since the US and Israel began bombing Iran in February. The same…
Big Oil Is Grappling With How to Spend Its Windfall Profits
Awash in cash after their third-highest quarterly earnings on record, the world's largest oil companies are uncharacteristically wary about how to spend it. ExxonMobil Holdings Corp. and Chevron Corp. are stockpiling the cash, BP Plc is paying down…
OPEC+ agrees in principle to keep oil output targets steady in December, sources say
Jonathan Raa | Nurphoto | Getty Images OPEC+ oil-producing countries have agreed in principle to keep their December oil output targets steady at a meeting on Sunday, three people with knowledge of the matter told…
Deb Haaland Was a Climate Hero of the Left. Now She Wants to Govern Oil-Rich New Mexico.
Get your news from a source that's not owned and controlled by oligarchs. Sign up for the free Mother Jones Daily. If anyone knows how to run a race, it's Deb Haaland. She descends from Pueblo runners who delivered secret messages to stage a…
Trump's oil and gas holdings surge 43% amid Iran war, CBS reports
US President Donald Trump's oil and gas investments have risen sharply in value during the eight-month war with Iran, raising concerns among congressional Democrats about potential conflicts of interest as Americans face higher fuel prices, CBS…
Profits of European oil giants doubled this year amid Middle East war, report finds
Six of Europe 's biggest oil companies have made $89bn (£67bn) in profits in the first nine months of 2026, more than double of the amount during the same period last year, as the war with Iran pushed up energy prices. BP, Eni, Equinor…
The Hidden $40-Per-Barrel Cost Driving Oil Prices Higher
When Americans think about the price of oil, they usually focus on the number quoted every day in financial markets. If Brent crude is trading above $100 a barrel or West Texas Intermediate is near $100, those numbers become shorthand for whether…
NABEP Rig Fleet Grows to 41 as Production Passes 223,000 Barrels of Oil Equivalent a Day
CARACAS, Venezuela, Oct. 31, 2026 /CNW/ -- In November, North American Blue Energy Partners' (NABEP) in-country fleet will reach 41 of the 60 rigs announced earlier this month. NABEP has nine drilling rigs, which bore new wells, in Venezuela. Three…
Iran Issues Nov 1st Blanket Ban On South Korean Tanker Giant Moving One-Third Of Persian Gulf Oil Exports
South Korean tanker giant Sinokor is the world's dominant VLCC owner (Very Large Crude Carrier) and has in recent weeks found itself front and center in the crosshairs of Iranian retaliation in the Strait of Hormuz and regional waters. This past…
Trump called out Big Oil profits. Here's how much their refining earnings have surged since
Trump criticized ExxonMobil and Chevron in August for making “too much money” amid tight fuel supplies. Shell, BP, TotalEnergies, ExxonMobil and Chevron have since reported sharply higher refining or downstream earnings. Refinery…
BOMBSHELL: Oil Giants Rake In BILLIONS While Americans Get Crushed at the Pump
ExxonMobil and Chevron reported billions in third-quarter profits this week, a windfall landing as American families stare down a national average of $4.20 for a gallon of regular gas, according to AAA data cited by Fox Business. That figure is…
Reliance Reports Record Quarterly Profit as Oil and Jio Lift Results
Reliance Industries reported record consolidated profit after tax of ₹29,550 crore ($3.1 billion) for the three months ended Sept. 30, 2026, as oil-to-chemicals and Jio gains offset lower retail profit. The total includes ₹300 crore…
Bourse plunges into negative territory as oil prices kick in
CSE yesterday kicked off on a positive note but later it gradually declined due to rising global oil prices, market analysts said. Amid those developments both indices moved downward. The All Share Price Index went down by 124.08 points, while the…
Indian Oil Standalone Q2 Profit Jumps 184% to ₹21,630 Crore
Indian Oil Corporation Limited said its standalone profit reached ₹21,630.03 crore in July-September, reversing an April-June loss as crude prices eased during part of the quarter and petrochemical and gas margins remained robust. The board…
Michigan black leader rejects El-Sayed as 'snake oil' salesman in undercover video: 'Just flat-out disdain'
A black leader in Michigan — who's been dubbed Al Sharpton's “little brother in the movement” — is rejecting Democratic Senate hopeful Abdul El-Sayed, blasting the radical candidate as an untrustworthy “snake…
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