Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Event With Links to Oil Industry Teaches Judges 'Healthy Skepticism' of Climate Science
For many months, conservative lawmakers and political operatives have been targeting the scientists and lawyers behind the Climate Judiciary Project, a program meant to educate the courts about climate science, alleging that their effort…
Ukraine attacks Russia's oil as Iran war raises energy prices
Ukrainian drones are flying deep into Russia to strike oil facilities, sending up plumes of smoke that can be seen from space and bringing toxic rain to tourist destinations on the Black Sea. The attacks are aimed at slashing Moscow's oil exports…
Australian taxpayers take on risk for major oil and gas projects
Major energy companies are telling Australians that this country's oil and gas industry relies 'entirely' on private sector investment. In a recent social media post, the Australian Energy Producers made this claim: 'You might have heard the claim…
Oil market four weeks from 'tipping point' with warnings prices could rocket
The oil market is just four weeks away from a “tipping point” which could drive prices significantly higher, it has been warned. Donald Trump has told oil company executives the blockade of the Strait of Hormuz could “continue…
Oil tanker hijacked off coast of Yemen and taken towards Somalia
Mohamed Gabobe Mogadishu, Somalia Somali pirates have hijacked an oil tanker off the coast of Yemen, according to multiple Somali security officials that spoke with the BBC. The Yemeni coastguard earlier said the tanker MT Eureka had been hijacked…
Investors are running out of time to brace for true oil shock
In thrall to an AI boom that has sent stocks to record highs and harboring hopes of a short-lived Iran war, investors have yet to prepare for a doubling of physical oil prices. The window to do so may soon be closing. There are plenty of…
Oil Tanker Pricing Feud Embroils a Centuries-Old London Market
A legal claim from one of the world's largest oil traders is throwing a spotlight on an arcane but critical corner of global finance — the multibillion-dollar freight market and the 282-year-old City of London institution that sits at the…
OPEC | Cracks in the oil crown
On April 29, the UAE announced it would leave the Organization of the Petroleum Exporting Countries (OPEC), ending nearly six decades of membership. The decision, effective May 1, removes one of the group's largest producers. OPEC traces its…
America's biggest oil companies are making less money than before the Iran war
The U.S.-Israeli war with Iran has sent crude-oil futures prices soaring, leading to frustration at the gasoline pump and fears of inflation. That would seem like good news for the largest American energy companies, but Exxon Mobil and Chevron are…
Apple leads Wall Street to more records as oil prices pull back
NEW YORK (AP) — The U.S. stock market set more records Friday after Apple, Estee Lauder and others joined the list of companies delivering fatter profits for the start of the year than analysts expected. Easing oil prices also helped steady…
Russia Oil Exports Keep Flowing Despite Ukrainian Attacks
Ukrainian drone strikes have battered Russian oil-export terminals and caused dramatic images of billowing smoke from burning refineries and pumping stations, some of them hundreds of miles behind the front lines. But the audacious campaign has had…
Russian Tuapse Oil Terminal Fire Extinguished After Attack
The fire at a marine terminal in Russia's Black Sea port of Tuapse has been extinguished following Friday's Ukrainian drone strike, Krasnodar region emergency authorities said on Telegram. The hit was the latest in a series of attacks on the port…
Meet the unsinkable U.S. economy - oil prices are surging, Iran tensions are rising, but it won't crack
High tariffs, stubborn inflation, government shutdowns, war with Iran, rising oil prices — nothing in the turbulent past year has poked a hole in a seemingly unsinkable U.S. economy. The latest round of reports on the economy underscore its…
Oil Prices Just Crossed $100 Again. Here's What Energy Investors Should Do Next.
The current shock to energy markets is lasting much longer than expected. The United States is tussling with Iran -- both physically and through negotiations -- to work out the situation in the Strait of Hormuz and keep energy products flowing to…
Oil Could Hit $150 or Higher, Experts Warn. These Energy Stocks Are Built for the Shock.
The continued oil supply disruption caused by the Strait of Hormuz closure recently sent crude prices to their highest level since 2022 at nearly $120 a barrel. Several oil market experts are warning that crude prices could eventually top $150 a…
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