Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

fortune.com - Jason Ma - New drones are giving Ukraine a battlefield advantage and ravaging Russia's oil industry
New drones are giving Ukraine a battlefield advantage and ravaging Russia's oil industry
Fortune

Ukraine's constant innovation in drone technology is giving its military an edge on the battlefield, dealing major blows to Russia's army and economy. While Russia invaded Ukraine four years ago with superior numbers, that advantage has since been…

bloomberg.com - Watch French Finance Minister Roland Lescure on Iran Ceasefire, Energy Shock, Oil, Economy
Watch French Finance Minister Roland Lescure on Iran Ceasefire, Energy Shock, Oil, Economy
Bloomberg

France's Lescure on Iran Ceasefire, Energy, Economy French Finance Minister Roland Lescure discusses the Iran war, energy markets and the economy. Lescure will join the International Monetary Fund meetings in Washington this week as policymakers…

bloomberg.com - Mitchell Ferman - BP Says Oil Trading Result Was 'Exceptional' as Prices Soared
BP Says Oil Trading Result Was 'Exceptional' as Prices Soared
Bloomberg

BP Plc said its oil traders boosted first-quarter earnings as the Middle East conflict jolted energy markets. The oil trading result for the quarter is expected to be “exceptional,” the energy giant said in a trading update on…

theguardian.com - Julia Kollewe - BP hails 'exceptional' trading as oil prices soar in Iran war
BP hails 'exceptional' trading as oil prices soar in Iran war
The Guardian

BP expects to post “exceptional” earnings from its oil trading desk, reaping a windfall from choppy energy markets triggered by the US-Israeli war on Iran. Energy traders are navigating significant market volatility after Tehran's…

cnbc.com - Priyanka Salve - U.S. Hormuz blockade hits India just as Russian oil purchase waiver expires, deepening energy worries
U.S. Hormuz blockade hits India just as Russian oil purchase waiver expires, deepening energy worries
CNBC

India is increasingly finding that U.S. policies work to its detriment, particularly in matters of energy security. The U.S. blockade of the Strait of Hormuz to cut Iranian oil supply will hurt India, which imported its first Iranian oil shipment…

bbc.co.uk - Steve Swann - Ex-Nigerian oil minister denies taking bribes
Ex-Nigerian oil minister denies taking bribes
BBC

Steve SwannSouthwark Crown Court A former Nigerian oil minister accused of being treated to luxury home stays and lavish spending sprees in the UK in exchange for granting government contracts has denied asking for or taking bribes. Diezani…

bbc.co.uk - Sarah-May Buccieri - Binbrook church's heating oil stolen for second time
Binbrook church's heating oil stolen for second time
BBC

The theft of heating oil from a rural church for a second time is a 'kick in the teeth', officials have said. Philip Wallis, treasurer at the Church of St Mary and St Gabriel, in Binbrook, Lincolnshire, said a total of 500 litres (110 gallons) was…

hrw.org - Iran: Israel's Oil Depot Strikes Endanger Environment, Health
Iran: Israel's Oil Depot Strikes Endanger Environment, Health
Human Rights Watch

Israeli attacks on four oil depots around Tehran on March 7, 2026, may cause long-term health and environmental harm for civilians. Strikes on primarily civilian infrastructure causing foreseeable civilian harm are violations of international…

thehill.com - Justin Chen, opinion contributor - As oil prices surge, bringing back telework is common sense
As oil prices surge, bringing back telework is common sense
The Hill

The U.S. is now facing a major disruption in the global oil market caused by the Iran war. It is driving up gas prices, putting pressure on working families and the broader economy. Oil prices affect everything from farming to shipping to the cost…

wsj.com - Kim Mackrael - Global Oil Demand to Fall in 2026, IEA Says
Global Oil Demand to Fall in 2026, IEA Says
Wall Street Journal

Global demand for oil is expected to contract this year as the effects of the Iran war limit oil supplies and push up prices, the International Energy Agency said. The IEA said in an oil market report published Tuesday that it has revised its…

scmp.com - Joseph Sipalan - Power play: Malaysia races to go green as Iran war squeezes oil supply
Power play: Malaysia races to go green as Iran war squeezes oil supply
South China Morning Post

Malaysia is doubling down on renewables to secure its energy future, its deputy prime minister has said, as the government scrambles to mitigate the fallout from an escalating energy crisis triggered by the Iran war. Tehran all but shut access to…

japantimes.co.jp - What does a U.S. naval blockade of Iran mean for oil flows?
What does a U.S. naval blockade of Iran mean for oil flows?
The Japan Times

The U.S. military said it would block shipping traffic in and out of Iran's ports starting at 1400 GMT on Monday, a move that would prevent roughly 2 million barrels of Iranian oil a day from entering the world's markets, further tightening global…

thestandard.com.hk - The Standard 英文虎報 - Qantas lifts fuel cost forecast as Middle East war jolts oil markets
Qantas lifts fuel cost forecast as Middle East war jolts oil markets
The Standard

Australia's Qantas Airways said on Tuesday it has raised its fuel cost outlook and has not started its planned share buyback, citing sharply higher and volatile jet fuel prices after the war in the Middle East cut oil supply. SCROLL TO CONTINUE…

bloomberg.com - China's Oil and Gas Imports Shrink on Persian Gulf Disruptions
China's Oil and Gas Imports Shrink on Persian Gulf Disruptions
Bloomberg

Chinese crude oil and natural gas imports fell in March, as the supply crunch in the Persian Gulf began to affect shipments. Crude purchases dropped 2.8% from the previous year to 49.982 million tons, although the figure was higher than February…

theguardian.com - Dharna Noor - 'A disturbing lack of integrity': Columbia students file complaint against energy thinktank taking big oil money
'A disturbing lack of integrity': Columbia students file complaint against energy thinktank taking big oil money
The Guardian

A thinktank at Columbia University is engaging in deceptive trade practices by hiding the extent of its financial ties to the fossil fuel industry, according to a first-of-its-kind administrative complaint filed by student activists and shared with…

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