Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil Industry's Weakest Links Are Seeking Relief From Bondholders
This article is for subscribers only. Welcome to The Brink. We're Edward Clark and Paul Burkhardt, reporters in London and Cape Town, following the troubles of the weakest oil companies. We also have news on Ukraine's Metinvest, the latest legal…
Energy Down With Oil, Natural Gas Futures - Energy Roundup
Shares of energy companies fell alongside energy futures. Natural gas futures declined as weather forecasts showed spring weather spreading through much of the U.S. in the coming days. Oil futures posted modest declines as traders awaited updates…
BP profits fall after oil prices drop
BP has reported a drop in annual profits after the business was hit by the fall in oil prices last year. The oil giant reported profits of $7.5bn (£5.5bn) in 2025, down from $8.9bn the year before, after the price of crude fell by about 20%.
Analysts See Decline in U.S. Crude Oil Stockpiles
Commercial crude stocks are seen falling by 400,000 barrels, to 419.9 million barrels, in the week ended Feb. 6, according to the average estimate of nine analysts and traders. Four expect an increase and five predict a decline. Expectations range…
Oil major BP suspends buybacks in fresh sign of oil price pressure
BP's industry rivals Equinor and Shell both reported weaker quarterly earnings last week, citing lower crude prices, among other factors. Anna Barclay | Getty Images News | Getty Images British oil giant BP on Tuesday posted fourth-quarter profit…
Oil exports have been a cash cow for Russia. But revenues are dwindling, thanks to sanctions
Oil and gas exports have sustained Russia's finances throughout its war against Ukraine. But as the fourth anniversary of the full-scale invasion approaches, those cash flows have suddenly dwindled to lows not seen in years. It's the result of new…
US military boards sanctioned oil tanker in the Indian Ocean after pursuit from the Caribbean
WASHINGTON -- U.S. military forces boarded a sanctioned tanker in the Indian Ocean after tracking the ship from the Caribbean Sea as part of an oil quarantine meant to squeeze Venezuela, Defense Secretary Pete Hegseth said Monday. Venezuela had…
BofA Sees Oil Market in Surplus Through 2028, Demand Growth to Peak in 2030s -- OPIS
The U.S. bank said world oil consumption should reach 108 million b/d by 2031 compared to 104 million b/d in 2025, with estimated annual growth of 1 million b/d this year and in 2027 before slowing down to just half of that pace by the end of the…
Malaysia optimistic on global palm oil growth in 2026
KUALA LUMPUR: Malaysia remains optimistic that 2026 will present further opportunities for growth within the global palm oil sector, Plantation and Commodities Minister Datuk Seri Dr Noraini Ahmad said. She said these growth opportunities will be…
EIA Sees Oil Prices Retreating After Recent Supply Disruptions
'Unplanned disruptions to crude oil production in the United States and Kazakhstan tightened near-term oil supplies in January and caused crude oil prices to rise,' the EIA said in its latest monthly outlook. At the same time, cold weather in the…
New oil and gas exploration site the 'size of Singapore' approved in Queensland
The Crisafulli government has appointed three energy companies as tenderers for oil and gas exploration in the Taroom Trough. Australian Energy Producers say the region has potential to be Australia's first new major oil province since the 1970s.
Benchmark diesel up slightly as talk of an oil glut begins to fade
The benchmark diesel price used as the basis for most fuel surcharges inched up this week, the fourth consecutive week of increases, in the midst of an oil market that still is pushing higher. The average weekly retail diesel price published by the…
Oil Rises as Tensions Over Iran Eclipse Signs of Inventory Build
Oil gained as tensions in the Middle East focused on Iran outweighed a US industry report that pointed to a big rise in stockpiles. West Texas Intermediate rose above $64 a barrel, after ending slightly lower on Tuesday, while Brent was near $69.
Russian oil revenue plummets as sanctions target Putin's cash cow
Russia's crucial oil and gas revenues, which have sustained its war against Ukraine, have suddenly dwindled to multi-year lows as the fourth anniversary of the full-scale invasion approaches. This sharp decline is the result of new punitive…
Oil prices steady as Iran-US tensions, US data eyed
NEW YORK: Oil prices were little changed on Tuesday as the market waited for direction from news on diplomatic relations between the US and Iran, efforts to end Russia's war in Ukraine and data on the US economy and US oil inventories. Brent…
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