Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Brittany Kelm, White House energy aide, takes oil-industry job
Brittany Kelm, one of the White House's senior energy advisers, is leaving to work for Sable Offshore, a small oil company with a big political footprint. Why it matters: Sable Offshore was at the center of a dispute between California and the…
How our food became so dependent on oil
Global food prices have hit their highest level in over three years. We are told this is due to rising oil and energy costs, but how exactly do they affect prices? The most reported reason is that transport and fertiliser are to blame, but the…
Dearth Of Reliable Data Plagues Crude Oil Market Assessments
This voice experience is generated by AI. Learn more. This voice experience is generated by AI. Learn more. Global crude oil markets are plagued by confusion due to unreliable data, hindering accurate assessments by analysts and companies. U.S.
Iraq Says Abu Dhabi's Adnoc Among Buyers of Its Oil
Iraq's oil marketing company said Abu Dhabi's main energy company was among firms buying its crude and sending cargoes out through the Strait of Hormuz. “Adnoc is one of the buyers SOMO deals with,” along with other companies, Ali…
For the Oil Market, the Strait of Hormuz Isn't Closed
'In price, is knowledge,' is an old market saying. So what is the oil price telling us? At less than $90 a barrel, it isn't screaming shortage. How so amid the Iran war? The release of strategic reserves is helping, as are bypass pipelines around…
Diamondback Energy: Strong Oil Leverage And Low Production Costs (NASDAQ:FANG)
Diamondback Energy (FANG) is rated Strong Buy, with a DCF-based target price of $290 per share, implying ~45% upside. FANG's low production costs ($25.09/BOE) and efficient capital allocation underpin robust free cash flow, even under conservative…
Daily on Energy: How much did Trump's third oil and gas lease sale for the Gulf of America generate?
The Trump administration held its third offshore lease sale for oil and gas drilling in the Gulf of America this morning, drawing weaker bidding and less than a third of the revenue generated from the first auction last year. The details: The sale…
Asian Equities Rise as U.S. Inflation Cools; Oil Slides on Inventory Build
Data released Wednesday showed the inflation rate eased to 3.4% in July from 3.5% in June. 'Softer U.S. inflation, both in the headline and core, provides comfort that inflation is not re-accelerating dangerously, although pipeline risks from…
Greenland forces Trump-linked US oil firm to delay drilling
The Greenland authorities have forced a US oil company connected to Donald Trump to postpone drilling wells in the Arctic territory, defying claims by the US president's envoy that Americans could be extracting crude by next year. Amid Trump's…
Treasury Yields Fall as Oil Prices Move Down
1017 GMT – The dollar falls along with Treasury yields as oil prices decline after OPEC and the International Energy Agency lowered their crude demand outlook for 2026. The IEA expects oil demand to fall by 1.6 million barrels per day this…
Current price of oil as of Aug. 13, 2026
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Oil dips on demand forecasts, global equities gain
By Chris Prentice and Samuel Indyk NEW YORK/LONDON, Aug 12 (Reuters) - Global equities were higher on Wednesday after mild inflation data reinforced bets the Federal Reserve will hold interest rates steady, while oil prices dipped as investors…
Oil Falls Amid Rising U.S. Inventories
0122 GMT — Oil falls in early Asian trade. U.S. crude oil inventories rose unexpectedly last week as imports increased and exports fell, according to the U.S. Energy Information Administration Wednesday. The latest data have raised doubts…
Experts Race to Salvage Leaking Oil Tanker Grounded Off Oman
Specialists are racing to salvage a sinking shadow-fleet tanker off Oman that has caused a massive oil slick, with rough monsoon conditions threatening to hamper the effort. Specialist personnel have already boarded the Caroline Bezengi, a Suezmax…
Oil Flows Normalizing? Not So Fast.
The Trump Administration says Middle East oil flows are normalizing; shipping data and industry analysts point to a wholly different conclusion. 'Total oil flows are currently averaging approximately 15 million barrels per day' in the region…
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