Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
U.S. Oil Industry Reports Blowout Profit as Trump Brags About It
The U.S. oil industry has made more than $130 billion in profit during the Iran war—while normal Americans continue to pay exorbitant prices at the gas pump. The New York Times reported that the country's 50 largest oil and gas companies…
Trump Energy Council's Latest Hire to Focus on Oil, Gas Projects
The White House council that advances the Trump administration's energy agenda is bringing on a new hire to focus on US oil and gas infrastructure. McKenna Skeeters is set to move to the National Energy Dominance Council on Monday, shifting from…
Tourmaline Oil Corp. stock rises Friday, outperforms market
Shares of Tourmaline Oil Corp. TOU inched 0.94% higher to C$68.64 Friday, in what proved to be an otherwise all-around negative trading session for the Canadian market, with the S&P/TSX Composite Index GSPTSE falling 1.74% to 35,620.03. Tourmaline…
Big Oil Is Grappling With How to Spend Its Windfall Profits
Awash in cash after their third-highest quarterly earnings on record, the world's largest oil companies are uncharacteristically wary about how to spend it. ExxonMobil Holdings Corp. and Chevron Corp. are stockpiling the cash, BP Plc is paying down…
Hold the rate. The Fed can't pump oil.
At its recent meeting, the Federal Reserve decided to maintain its interest rate target, forgoing a hike that would have been the second in six weeks. The target federal funds rate remained between 3.75 percent and 4 percent, with two members of…
Trump's oil and gas holdings surge 43% amid Iran war, CBS reports
US President Donald Trump's oil and gas investments have risen sharply in value during the eight-month war with Iran, raising concerns among congressional Democrats about potential conflicts of interest as Americans face higher fuel prices, CBS…
Imperial Says a 'Lot of Work' Needed in Canada Oil Negotiations
Imperial Oil Ltd. 's chief executive said there was still a lot that needs to be worked through ahead of a Nov. 15 deadline for Canada's major oil sands producers to reach a production and carbon capture agreement with the federal and provincial…
Profits of European oil giants doubled this year amid Middle East war, report finds
Six of Europe 's biggest oil companies have made $89bn (£67bn) in profits in the first nine months of 2026, more than double of the amount during the same period last year, as the war with Iran pushed up energy prices. BP, Eni, Equinor…
Pemex Posts $573 Million Loss Even as Oil Prices Have Surged
Mexico's state oil company posted a third-quarter loss as it continues to struggle to make its refineries more efficient and increase production, even as crude prices have surged. Petroleos Mexicanos reported a loss of 10.8 billion pesos ($573…
Trump called out Big Oil profits. Here's how much their refining earnings have surged since
Trump criticized ExxonMobil and Chevron in August for making “too much money” amid tight fuel supplies. Shell, BP, TotalEnergies, ExxonMobil and Chevron have since reported sharply higher refining or downstream earnings. Refinery…
Oil jumps 2%, settles at 6-month highs on fears of escalation in Iran
Oil prices jumped more than 2 percent on Friday and settled at their highest levels since the end of April, as traders braced for a potential escalation in the Iran war after the U.S. midterm elections, with an attack on a tanker in the Strait of…
BOMBSHELL: Oil Giants Rake In BILLIONS While Americans Get Crushed at the Pump
ExxonMobil and Chevron reported billions in third-quarter profits this week, a windfall landing as American families stare down a national average of $4.20 for a gallon of regular gas, according to AAA data cited by Fox Business. That figure is…
Reliance Reports Record Quarterly Profit as Oil and Jio Lift Results
Reliance Industries reported record consolidated profit after tax of ₹29,550 crore ($3.1 billion) for the three months ended Sept. 30, 2026, as oil-to-chemicals and Jio gains offset lower retail profit. The total includes ₹300 crore…
Tankers defy sharp escalation of Iranian attacks to keep crude oil flowing through Strait of Hormuz
More commercial ships, mostly oil tankers, have come under attack in October than at any other point in the Iran war. But tankers continue to ship substantial volumes of crude oil through the Strait of Hormuz, in stark contrast to March when…
Bourse plunges into negative territory as oil prices kick in
CSE yesterday kicked off on a positive note but later it gradually declined due to rising global oil prices, market analysts said. Amid those developments both indices moved downward. The All Share Price Index went down by 124.08 points, while the…
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