Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Iran's Oil Minister Resigns as Exports Dry Up Under US Pressure
Iran's Oil Minister Mohsen Paknejad resigned citing personal reasons, as the Islamic Republic tries to sustain its oil industry under a tightening US blockade. President Masoud Pezeshkian accepted Paknejad's resignation letter on Sunday after…
Japan should keep focus on cheap Mideast oil, local refiner says
Japan should continue to rely on the Middle East for the bulk of its crude as that's cost-effective, processor Taiyo Oil said, pushing back against a government drive to diversify triggered by the U.S.-Iran war. National strategy should focus on…
Daily Open: Who's steering oil now?
U.S. bombers left RAF Fairford over a suspected terror plot, and more tankers were struck near Iran. Yemen's government launched a nationwide offensive to retake all Houthi-held areas. U.S. stock futures were flat as high yields persist and Fed…
Major oil exporters agree to keep production steady in November
Seven major oil-exporting countries agreed Sunday to keep production steady in November at a time when the Iran war has driven the price of benchmark Brent crude oil above $100 a barrel. The so-called OPEC+ subgroup — Saudi Arabia, Russia…
Emerging-Market Assets Climb as Fed Hike Bets Cool, Oil Drops
Emerging-market stocks and currencies advanced after softer-than-expected US jobs data and a further decline in oil prices helped ease concern over aggressive interest-rate hikes by the Federal Reserve. MSCI Inc.'s gauge for developing-market…
Asian Stocks to Rise as Hike Bets Ease, Oil Climbs: Markets Wrap
Asian stocks were poised to gain after a softer US jobs data report eased pressure on the Federal Reserve to keep raising interest rates. Brent crude rose as Yemen launched a bid to recapture Houthi-controlled areas. Equity-index futures for Japan…
Why Oil Is Still Stuck Near $100 a Barrel
Hundred-dollar oil is hard to leave behind. The amount of crude flowing from the Middle East has almost returned to levels last seen before the US attacked Iran, triggering one of the biggest supply disruptions in history. But global prices remain…
Oil slips as Middle East crude exports rise, G7 to release stocks
Oil prices slipped on Monday as rising crude exports from the Middle East and a release of oil stocks from Group of Seven nations are adding to supplies despite ongoing concerns about further damage to Gulf oil infrastructure amid the Iran war.
Strikes by North Sea oil workers could 'severely disrupt' UK fuel supplies
A looming strike by oil workers in the North Sea could “severely disrupt” UK fuel supplies, the Unite union has said, adding that staff were left with no choice after a breakdown in pay talks with the Texas oil company Apache. The…
Russia threatens more strikes after Zelensky vows to hit oil refineries
The Russian Defense Ministry on Sunday threatened to hit Ukrainian military and industrial facilities, after Ukrainian President Volodymyr Zelensky said his military would target Russia's oil refineries. “Strikes by the Armed Forces of the…
Saudis Cut Flagship Oil Price to Asia to Lowest in Six Years
Saudi Aramco has cut prices for its benchmark oil grade to Asia to a six-year low as Persian Gulf producers race for market share with flows through the Strait of Hormuz increasing. The state-owned firm will lower Arab Light crude to buyers in Asia…
Oil worker strike threatens to severely disrupt Britain's fuel supply
More than 160 offshore oil workers are considering strike action that their union claims could 'severely disrupt' UK fuel supplies. The Unite union said workers at oil and gas operator Apache had backed strike action over a pay dispute. Unite said…
Major oil exporters agree to keep production steady in November
Please refresh the page or navigate to another page on the site to be automatically logged inPlease refresh your browser to be logged in Skip to content Swipe for next article Seven major oil-exporting countries agreed Sunday to keep production…
US CRUDE OIL FUTURES SLIP ONE PERCENT TO $90.17 A BARREL
West Texas Intermediate crude futures declined one percent to $90.17 a barrel, according to market data circulated early Monday by the financial headline account @FirstSquawk. The post, published at 1:47 a.m. Eastern, carried no attribution, no…
OPEC+ agrees to keep November oil output targets steady
Jonathan Raa | Nurphoto | Getty Images OPEC+ agreed to keep oil production targets steady for November at a meeting on Sunday, the producer group said, in line with expectations that further output policy adjustments are unlikely until next year.
Receive a Daily briefing on Oil Industry News
Get Started