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 Isn't Cheap But It Might Become So
TAFT, CA - JULY 22: Oil rigs just south of town extract crude for Chevron at sunrise on July 22, 2008 in Taft, California. (Photo by David McNew/Getty Images) The internet is filled with claims that oil is undervalued compared to, for example, gold…
Oil Lower as Investors Focus on Russia-Ukraine Peace Talks
0300 GMT – Oil is lower in early Asian trading following a choppy session, as geopolitical tensions roil the market, ANZ research analysts say in commentary. On the one hand, U.S. envoy Steve Witkoff arrived in Moscow to meet Russian…
The Potential Opportunity In Energy Stocks Despite Low Oil Prices
2025 has been a mixed year for the energy sector. 2026 may be better amid expectations for stronger demand. Disciplined energy companies still making money with oil near $60. Can the big energy companies still make money even with oil hovering…
India's Russian Oil Dilemma: Cheap Crude, Costly Consequences
Russia's President Vladimir Putin (R) speaks with India's Prime Minister Narendra Modi (L) during a visit to the shipyard Zvezda, as Rosneft Russian oil giant chief Igor Sechin (C) accompanies them, outside the far-eastern Russian port of…
Trump's Venezuela Fixation Is Not About the Oil
Whatever else the United States is up to around Venezuela, it's probably not after the country's oil. There is lots of chatter—and plenty of memes —about U.S. interest in the world's largest oil reserves. Similar shadows hung over the…
Crude oil flat after industry data show increase in US inventories
Crude oil futures traded flat on Wednesday morning after industry data showed an increase in US inventories for the week ending November 28. At 9.56 am on Wednesday, February Brent oil futures were at $62.49, up by 0.06 per cent, and January crude…
India's oil imports and other issues will be on the agenda for Putin meeting with Modi
Russian President Vladimir Putin will be in India this week for a summit aimed at deepening economic, defense and energy ties, a visit that will also test New Delhi's efforts to balance relations with Moscow and Washington as the war in Ukraine…
Oil eases on doubts over Russia-Ukraine peace plan
NEW YORK: Oil prices declined 1% on Tuesday as markets weighed faltering Russia-Ukraine peace hopes against fears of oversupply. Brent crude futures settled 72 cents lower, or 1.14%, at US$62.45 a barrel, while US West Texas Intermediate crude was…
Venezuela denounces US-ordered 'forced sale' of oil company Citgo
Venezuelan Vice President and Minister of Petroleum Delcy Rodriguez has condemned a US court's decision to authorise the “fraudulent” and “forced” sale of Venezuelan oil company Citgo in the United States to pay off…
Oil giant blames windfall tax as it scraps 100 jobs
Harbour Energy, the UK's largest oil and gas producer, has announced plans to cut about 100 offshore North Sea jobs, citing pressure from the UK's windfall tax regime. The proposed redundancies form part of a review into the company's UK…
New study links commonly used oil to weight gain
Notifications can be managed in browser preferences. A new study suggests that soybean oil, commonly found in processed foods, may contribute to weight gain due to how it is metabolised in the body, rather than the oil itself. Researchers at the…
Canada's Assembly of First Nations chiefs demand withdrawal of new oil pipeline deal
OTTAWA, Dec. 2 (Xinhua) -- Assembly of First Nations (AFN) chiefs on Tuesday passed a unanimous emergency resolution demanding the withdrawal of a new oil pipeline deal between the Canadian federal government and the Canadian province of Alberta…
Oil and gas prices expected to stay significantly lower through 2026
Oil and gasoline prices are expected to decline next year, according to the latest forecast from the Energy Information Administration (EIA). The EIA published its November Short-Term Energy Outlook last month, which projected that the price of…
Russia on fire as devastating drone strike sends yet another oil depot up in flames
The aftermath of the apparent drone strike Vladimir Putin 's war economy took another direct hit early Tuesday when Ukrainian kamikaze drones slammed into a major oil depot in Russia 's Tambov region, igniting a massive blaze roughly 450km…
Several shops destroyed in oil fire in Ahmedabad
Several shops on the ground floor of the Vrajeshwari complex near Viratnagar crossroads in Ahmedabad were destroyed after a fire, fuelled by motor oil, ravaged the building on Tuesday morning. The Ahmedabad Fire and Emergency Services (AFES)…
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