Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Trump's Arctic Refuge Auction to Test Oil Industry's Appetite
President Donald Trump vowed to reopen Alaska's Arctic National Wildlife Refuge to oil drilling as he seeks to make tapping the state's vast natural resources a key part of his energy agenda. Now comes the test of the oil industry's appetite to…
Energy Up as Oil Slides -- Energy Roundup
Shares of energy companies rose despite a sharp drop in oil futures. U.S.-traded crude-oil contracts fell 3.1% to $93.04 a barrel, falling by the largest increment in more than a week after President Trump reportedly revealed the red line that Iran…
Oil Prices Continue to Slide - TT
Cargo and service vessels are anchored in the Strait of Hormuz off Bandar Abbas, Iran, on June 1. (Amirhosein Khorgooi/ISNA via AP) HONG KONG — World shares were mostly lower and South Korea's benchmark dropped more than 5% on June 5 after…
Why is the US not drilling more oil as gas prices soar
The United States is producing more oil than any country in the world. Yet Americans are still paying sharply higher prices at the pump—and experts told Newsweek that more domestic drilling is unlikely to deliver quick relief. The national…
Trump tries to boost oil and gas drilling in remote Alaska
On Friday, the Interior Department's Bureau of Land Management was set to hold an oil and gas lease sale bid opening for tracts of land in the Coastal Plain of the wildlife refuge, also known as the 1002 area. The area stretches across 1.56 million…
India to expand oil ties with Venezuela
Venezuela is seeking India's participation in its oil sector, as it looks for reliable markets for its oil and foreign investment to rebuild its energy industry. The offer comes as India, the world's largest oil importer, is diversifying its energy…
Oil execs warn Trump that gas prices could spike due to dwindling supplies: report
Several oil industry executives have reportedly privately warned the White House that the ongoing closure of the Strait of Hormuz is straining global oil inventories and could lead to gas price spikes in the coming weeks. For more than three…
U.S. March Oil Production Flat
U.S. March oil production decreased by 1 kb/d to 13,696 kb/d and is down by 168 kb/d from October 2025. Production in North Dakota dropped by 1 kb/d in March to 1,121 kb/d, according to the EIA. Wyoming's oil production reached a post-pandemic high…
Japan steps up efforts on cooking oil in race for sustainable aviation fuel
Japanese homemaker Maki Watanabe carefully pours into a plastic bottle the oil she used to cook her deep-fried aubergines, doing her part in her Tokyo kitchen for a national effort to ramp up production of eco-friendly jet fuel. SCROLL TO CONTINUE…
Asian Stocks Poised to Edge Lower, Oil Steadies: Markets Wrap
Stocks in Asia were set to edge lower on Friday as investors grappled with a pullback in artificial-intelligence shares and hopes of a diplomatic resolution to tensions in the Middle East. Equity-index futures for Japan and South Korea pointed to…
India Challenges Its Oil Dependence With New Ethanol-Heavy Fuel
India is set to launch a new high-ethanol fuel blend in the market, its latest effort to diversify supplies and reduce the country's reliance on imported oil. Oil Minister Hardeep Puri will introduce the fuel later on Friday at an Indian Oil Corp.
Main Oman Oil Terminal Delays Loadings After Blast, Traders Say
Oman's main crude oil export terminal at Mina Al Fahal has delayed loadings after an explosion disrupted port operations, according to traders familiar with the matter. Loadings that had already been scheduled have been preliminarily pushed back by…
Taiwan Inflation Tops Central Bank's Alert Level on Oil Prices
Taiwan's consumer inflation sped past the monetary authority's alert level, strengthening the case for further rate increases. The consumer price index rose to 2.20% in May, the statistics bureau said in a statement on Friday. Seventeen of the 18…
WHEE! Oil Prices Will Surge In Coming Weeks Due To Hormuz Backup
The oil industry has warned the Trump administration that a Hormuz-sized hole in the world's petroleum market is steadily draining inventories to levels that are likely to send global energy prices surging in the next several weeks, according to…
Russian Oil Continues Flow Amid US Waiver
Photo taken on June 2, 2017 shows a plant of the Udmurtia Petroleum Corp project in Udmurtia, a republic in western Russia. Global energy markets are navigating one of their most complex periods in recent years. While Western sanctions on Russia…
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