Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Texas' oil industry largely silent on Bo French's tweets
Bo French, the rabble-rousing candidate for the Texas Railroad Commission, drew national attention this week for singling out a group of students of South Asian descent at a Longhorns game in a racist social media post, thrusting the…
Why One Saudi Pipeline Is Crucial to the Global Oil Market
Global oil supply has been squeezed for months as the impasse over reopening the Strait of Hormuz continues. Now, the market is grappling with another setback: the closure of Saudi Arabia's East-West pipeline. The conduit has been a key relief…
Oil prices fall on optimism that more Saudi crude will reach markets
Sept. 17 (UPI) -- Oil prices fell Friday as investors were optimistic that Saudi crude would reach global markets and ease concerns about supply despite new fighting between Saudi Arabia and Yemen's Iranian-backed Houthis Brent crude futures, the…
Interior watchdog clears official over agency work involving his former oil industry employer
An agency watchdog failed to substantiate allegations that a senior Interior Department official violated ethics rules by participating in matters that impacted his former employer, according to a report that was published on Wednesday. The…
Donald Trump Just Made India's Oil Balancing Act Even Trickier
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, New Delhi-based oil reporter Rakesh Sharma looks at the repercussions of shifting US energy policy for India. For the world's…
Orlen CEO Seeks to Diversify Supplies as Strikes Halt Saudi Oil
Poland's Orlen SA, the biggest oil company in the European Union's east, is seeking to diversify crude supplies as the Middle East conflict disrupts deliveries from key partner Saudi Arabia. Chief Executive Officer Ireneusz Fafara said in an…
Oil Prices Fall for Third Day as WTI Slips Below $100
Oil prices fell for a third day Friday, with WTI crude slipping below $100 a barrel as expectations of restored Saudi pipeline flows eased immediate supply concerns. Brent crude futures fell 2.6% to $102.14 a barrel, while West Texas Intermediate…
Stock Futures Rise as Oil Extends Losses, Treasury Yields Rise
U.S. stock futures extended gains and oil prices continued to fall in early European trade, though Treasury yields largely rose as investors brace for more rate hikes to come. Momentum returned to the trade in artificial-intelligence stocks, with…
Iran says it strikes an oil tanker, and other Mideast developments
Iran says it has struck an oil tanker trying to transit the Strait of Hormuz. And South Korea says it is considering expanding the operations of a naval operation in the Gulf of Aden off the Arabian Peninsula to protect its ships and oil routes.
Dangote refinery: Share-buying frenzy makes oil barons out of Nigerians
Every Nigerian is now an oil magnate. At least that is what the social media memes would have you believe as investor fever hits the country. Nigerians have been eager to have a piece of the energy business that was built up by the country's…
Dangote refinery: Share-buying frenzy makes oil barons out of Nigerians
Mansur Abubakar, Abuja and Chris Ewokor, BBC Africa, Abuja Every Nigerian is now an oil magnate. At least that is what the social media memes would have you believe as investor fever hits the country. Nigerians have been eager to have a piece of…
Oil Traders Stymied by Iran War Stalemate
On one hand, oil fell on Thursday. On the other, it's still about $105 a barrel. And the reason for that three-digit crisis continues to metastasize across the Middle East. More than six months after the US and Israel launched the Iran war, oil…
Asian Stocks to Gain on Lower Oil, US Bonds Rally: Markets Wrap
Asian stocks and bonds were set to rise, tracking a Wall Street rally as a pullback in oil prices eased inflation concerns and helped revive appetite for risk. The yen was steady ahead of the Bank of Japan's rate decision. Equity-index futures for…
Gold Rises, Likely Supported by Oil Pullback
0016 GMT — Gold gains in early Asian trade. The yellow metal likely climbed as the pullback in oil prices eased concerns around inflation and future rate hikes by the Federal Reserve, say ANZ Research analysts in a note. Investors don't…
ExxonMobil Is Reportedly Nearing a Deal to Invest in Venezuela's Oil Fields. Is XOM Stock a Buy?
One of the more spectacular returns in the global oil industry might be happening right now. According to several media reports published after market close on Thursday, ExxonMobil (XOM -0.03%) is in advanced discussions to invest in oil fields in…
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