Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Big Oil Is Changing Its Mind About Venezuela
This article is for subscribers only. This week's newsletter is written by Houston-based senior oil reporter Kevin Crowley, who has covered global commodities, energy and finance for almost two decades. Your is welcome, and if you aren't yet signed…
How China is cashing in on a global scramble for offshore oil and gas
Though rising oil and gas prices are causing havoc in the global economy, they have proved a windfall for one sector: China's vast offshore engineering equipment industry. The increase in global fossil fuel prices over the past few years has…
Why Oil's Not at $200 After the Biggest Supply Shock in History
For decades, oil traders, executives and analysts warned that closing the Strait of Hormuz would be a global economic catastrophe. It's now been more than three months since the waterway was effectively blocked, creating the worst supply shock in…
Russia's Tyumen Oil Refinery Ablaze After Process Disruption
Fire broke out at one of the processing units of the Antipinsky oil refinery in Tyumen, western Siberia, the local government said in post on Telegram. The fire occurred in a purification-system facility following a disruption in the technological…
Oil drilling rises in longest U.S. streak since 2022 on price bump
US oil drilling has expanded for six straight weeks, the longest uptrend in almost four years, after the Iran war pushed crude prices higher. The number of rigs drilling across US oil fields rose by two this week to 431, according to data released…
Russia in flames as Ukraine bombards oil depots with lethal drone blitzkrieg
Smoke could be seen across the city following the attacks Ukraine has launched a blistering assault on the Russian city of St Petersburg, the second of its kind in a week. Residents of Russia's second-largest city, were told not to leave their…
U.S. Crude Oil Storage Levels Are Falling Toward This Critical Level. Here's What Investors Need to Know
The CEOs of Chevron (CVX 0.49%) and ExxonMobil (XOM 1.39%) have both warned that oil prices aren't fully reflecting the on-the-ground situation in the oil market. The latest update on that comes from the United States, where U.S. oil reserves are…
Oil India's latest gas find could unlock more hydrocarbon reserves in Andaman offshore
State-owned Oil India Ltd (OIL) has reported its second natural gas discovery in the Andaman offshore region, strengthening expectations that the basin could develop into a key hydrocarbon-producing zone in the years ahead. The latest find was made…
Dermatologists Love Cleansing Oils-These Are the Best for Glowing Skin
We've been independently researching and testing products for over 120 years. If you buy through our links, we may earn a commission. Learn more about our review process. Don't let the word “oil” fool you—cleansing oils are…
Pilot plant uses catalytic process to convert mixed plastic waste into oil
The Catalysis Engineering Group at the University of Amsterdam (UvA) has developed a new robust process for the recycling of mixed plastics waste. A newly developed pilot plant aims to demonstrate how this can be transformed into valuable…
DoCA prescribes standard pack sizes for edible oils under Legal Metrology framework
The Department of Consumer Affairs has prescribed standard pack sizes for edible oils under the Legal Metrology framework, in a move that is aimed at helping consumers compare prices across brands to make informed purchasing decisions. DoCA on…
Share of Russian oil in Indian imports rises to 38%, premium paid jumps 425% in April 2026
Russia's share in the value of India's oil exports jumped back up to a 11-month high of nearly 38% in April 2026 as India continued to increase its dependence on it against the backdrop of the ongoing West Asia crisis. This increasing dependence…
Record Gulf Coast exports push U.S. oil inventories lower
(The Center Square) - U.S. crude oil inventories, including commercial stockpiles and the nation's emergency reserves, fell by 16 million barrels last week to their lowest combined level in more than two decades, as strong demand for exports of…
Govt mandates standard packaging sizes for edible oils to help consumers compare prices
The Department of Consumer Affairs has prescribed standard pack sizes for edible oils under the Legal Metrology framework, a move aimed at helping consumers compare prices across brands and make informed purchasing decisions. The department has…
India to account for half of global oil demand growth over next decade: Rosneft CEO
Rosneft CEO Igor Sechin has said India will account for about half of the global increase in oil demand over the next decade, Russian media reported. Speaking at the St Petersburg International Economic Forum, Sechin said India occupied a 'special…
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