Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
US oil industry doesn't see profit in Trump's 'pro-petroleum' moves
(The Conversation is an independent and nonprofit source of news, analysis and commentary from academic experts.) (THE CONVERSATION) As the Trump administration makes announcement after announcement about its efforts to promote the U.S. fossil fuel…
US oil industry doesn't see profit in Trump's 'pro-petroleum' moves
As the Trump administration makes announcement after announcement about its efforts to promote the U.S. fossil fuel industry, the industry isn't exactly jumping at new opportunities. Some high-profile oil and gas industry leaders and organizations…
Oil Edges Higher on Likely Technical Recovery
0119 GMT — Oil edges higher in early Asian trade on a likely technical recovery after oil futures posted back-to-back losses on Tuesday. Oil's recent losses come as a sell-off across refined products weighed on sentiment across the complex…
A top commodities firm predicts a 'super glut' of oil in 2026 on weak demand and booming supply
The long-predicted 'super glut' of oil is expected to hit energy markets in 2026. Trafigura, one of the world's biggest commodities trading firms, said it believes the oil market will see a flood of new supply at a time when the demand outlook is…
Oil falls as focus turns to Russia-Ukraine peace talks, Fed
NEW YORK: Oil prices edged lower on Tuesday after falling 2% in the previous session, with investors keeping a close eye on peace talks to end Russia's war in Ukraine, concerns about ample supply and a looming decision on US interest rates. Brent…
Oil Steadies After Two-Day Drop With Glut Concerns to the Fore
Oil held the biggest two-day drop in a month as concerns about global oversupply continued to weigh on sentiment. West Texas Intermediate rose above $58 a barrel after losing 3% over the previous two sessions, while Brent crude closed near $62. The…
TotalEnergies Buys 40% Stake in Galp's Namibia Oil Discovery
TotalEnergies SE has won the race to acquire a stake in Galp Energia SGPS SA's major offshore Namibia discovery, one of the industry's most-watched new oil prospects. TotalEnergies agreed to acquire a 40% stake in the Mopane field in exchange for…
Oil Market Faces 'Super Glut' With Supply Hikes, Trafigura Says
The oil market is headed for a “super glut” next year as a wave of new supplies may run up against sluggish demand, according to global commodities trader Trafigura. “Whether it's a glut or a super glut, it's kind of hard to…
Oil prices projected to fall below $60 in 2026 - Report
Oil prices are projected to fall below an average of $60 per barrel, according to the latest forecasts from investment banks. Both Brent Crude and West Texas Intermediate (WTI) Crude are expected to decline from their current levels of $63 per…
Shell Is Said to Seek Partner for Brazil Offshore Oil Project
Shell Plc is looking to sell a 20% stake in a Brazilian oilfield cluster to help fund the multibillion-dollar offshore development, according to people familiar with the process.
Readers sound off on Venezuela's oil, housing the homeless and charter schools
Boynton Beach, Fla.: I have a personal interest in the criminal prosecution of drug dealers. My beloved daughter passed away on July 11, 2011, from an OxyContin- and cocaine-fueled overdose. The loss leaves an irreparable wound that never heals. In…
Value addition boosts farming in oil-rich Albertine region
The Albertine Graben holds an estimated 6.5 billion barrels of oil, of which 1.4 billion barrels are considered technically recoverable, according to the Petroleum Authority of Uganda (PAU). Since the discovery of oil in this region, significant…
Oil Trading Giant Warns Of Looming 'Super Glut' Due To Supply Surge
Echoing what has become a now daily refrain by commodity bears everywhere, Saad Rahim, chief economist of commodity-trading giant, Trafigura, said that the oil market faces a “super glut” next year as a burst of new supply collides…
Sensex sheds 436 pts on profit booking in bank, oil shares
Stock markets closed lower for the second straight day on Tuesday, with benchmark BSE Sensex declining by 436 points as investors booked profit ahead of the US Federal Reserve's policy decision. The 30-share BSE Sensex dropped 436.41 points, or…
India free to buy oil from anyone, says Russia
'India, being and remaining a sovereign nation, carries out foreign trade operations and purchases energy resources where it is beneficial for itself,' Kremlin spokesman Dmitry Peskov told reporters in the context of last Friday's summit between…
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