Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Investors scored on Iran war's oil market boom. Staying long the trade will get trickier
Blowout earnings from Exxon Mobil, Chevron and Valero Energy this past week showed how the U.S.-Iran war created massive short-term profits in oil. ETFs targeting oil refiners and crude oil price volatility were among big winners over the past six…
Suriname's $26 Billion Oil Bet Is Finally Paying Off
Middle East turmoil, centered on the U.S. war with Iran, is playing havoc with world energy markets. An ongoing dispute over access to the Strait of Hormuz, through which a fifth of world oil and natural gas supply is shipped, is causing prices to…
OPEC, Allies Increase Oil Output for Sixth Time in a Row
The Organization of the Petroleum Exporting Countries and its allies pressed ahead with another oil production increase, a move that would complete the group's planned return of voluntarily withheld barrels to the market while setting the stage for…
OPEC+ Makes Small Quota Hike to Finish Unwinding 2023 Oil Cuts
Major OPEC+ nations approved the latest small increase to their production quotas, a move that will complete the theoretical revival of supplies halted in 2023 and give them scope to add more barrels once the Middle East war ends. Seven members led…
OPEC agrees September oil hike, completing rollback of voluntary cuts
Jonathan Raa | Nurphoto | Getty Images OPEC+ approved an oil production quota increase on Sunday of around 188,000 barrels per day from September, the producer group said, in a move that completes the unwinding of a layer of voluntary output cuts.
Analysis: Trump predicted an oil catastrophe if the war didn't end. The clock is ticking | CNN Politics
Back in June, President Donald Trump justified the signing of a memorandum of understanding with Iran by making some alarming predictions.
Satellite images show evidence of oil leak spreading from sanctioned vessel near Oman
A sanctioned tanker loaded with crude is leaving a growing trail of oil in protected waters off the coast of Oman, according to newly reviewed satellite images, as experts warn the stranded vessel could break apart during the region's rough monsoon…
Energy sector rallies in July as geopolitical risks drive oil higher (XLE:NYSEARCA)
The sector's 11%+ gains were driven by re-escalating US-Iran tensions, supply disruptions in key oil straits, lower inventories, and Ukrainian attacks impacting Russian refineries. Phillips 66 led gains with +21%, followed by Marathon Petroleum…
Disruptions on multiple fronts put oil markets on the brink * WorldNetDaily * by Neil Atkinson, Real Clear Wire
Collapse of the Memorandum of Understanding sees a resumption of the Iran-U.S. war. The collapse of the Memorandum of Understanding (MoU) between Iran and the U.S.—and the resumption of hostilities—carries serious implications for a…
Shell Says Oil Prices Are Headed Higher for Years. Here's the Case for Buying Oil Stocks.
The geopolitical conflict in the Middle East has made oil prices a near-daily topic of conversation in the media. That's understandable, given the immediate impact that the conflict is having on energy prices. But the really important takeaway from…
Michigan Supreme Court rejects permit for Enbridge oil pipeline under Great Lakes
The Michigan Supreme Court has ordered state regulators to reconsider a key permit that allowed a planned tunnel to carry an oil pipeline under part of the Great Lakes to move forward. The 6-1 decision further clouds the future of the 73-year-old…
Diesel price shock looms despite petrol relief as oil volatility bites
South African motorists could receive modest petrol price relief in August, but a sharp diesel price increase is expected to raise transport costs and add to inflationary pressures. South African motorists could see marginal relief at the pumps In…
Iran Warns of Retaliation as Trump Threatens New Strikes, Oil Risks Intensify
Iran warned over the weekend that it would respond forcefully to any new U.S. military action, escalating tensions in the Middle East as President Donald Trump reiterated threats of additional strikes on Iranian targets. The growing standoff has…
Michigan Supreme Court rejects permit for Enbridge oil pipeline under Great Lakes
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Iran Warns Of Retaliation: Plan To Target Saudi, UAE, Qatar Oil And Gas Facilities If US Strikes
Tehran: Iran has issued a threat of retaliation following reports indicating that US President Donald Trump is considering launching attacks against Iranian energy infrastructure, according to Iran's state-affiliated Tasnim News Agency. The news…
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