Oil Industry News
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Trump's Venezuela oil grab reprises industry's neocolonial past
U.S. President Donald Trump's plan to seize direct control of Venezuela's oil reserves is prompting warnings that the Latin American nation will become a modern-day resource colony akin to the banana republics of a century ago — something…
Oil's fresh surge highlights a growing threat to the stock market's biggest catalyst
Investors on Monday were reminded the Iran war is still going, with stocks sagging as oil prices and bond yields spiked after the US and Iran traded fire for the first time in weeks. Brent oil cruised back above $90 a barrel and US crude topped $85…
Will Trump's Venezuela oil deal lower U.S. gas prices? Here's what experts say.
President Trump on Friday said a U.S. deal with Venezuela to tap its oil reserves 'will substantially lower Gas Prices for all Americans, long into the future.' With the average U.S. gas price still above $4 a gallon nationwide, American consumers…
What smart people are saying about Trump's acquisition of Venezuelan oil
Analysts aren't buying the notion that Trump's recent acquisition of millions of barrels of Venezuelan oil will reduce gas prices for American consumers. In a post on Truth Social on Friday, President Donald Trump said the US has secured majority…
US-Venezuela oil deal promises a windfall. But, Venezuelans ask, for whom?
The oil deal between the United States and Venezuela, which secures American access to more than 65 billion barrels of Venezuelan oil reserves, promises something both countries want. Washington could gain access to vast petroleum resources, while…
Trump's Venezuela oil deal leaves $100B question unanswered - TT
President Donald Trump in the Oval Office on Aug. 27. (Al Drago/The Washington Post/Bloomberg) President Donald Trump unveiled a venture giving the U.S. a stake in 17 Venezuelan oil fields holding an estimated 65 billion barrels. The plan promises…
Trump says Venezuelan oil will replenish Strategic Petroleum Reserves
President Donald Trump said on Sunday that Venezuelan oil will replenish the United States's Strategic Petroleum Reserves after announcing a historic deal with the country on Friday. “One of the things I am going to do with the Venezuela Oil…
Trumps says Venezuelan oil will 'fill up' US petroleum reserve
Aug. 30 (UPI) -- U.S. President Donald Trump on Sunday said the crude oil from Venezuela will be used to 'fill up' the U.S. Strategic Petroleum Reserve. 'One of the things I am going to do with the Venezuelan Oil is fill up the Strategic National…
Oil giant's retreat on clean energy shows limits of investor pressure
You have reached your maximum number of saved items. Remove items from your saved list to add more. Australia's biggest oil company became last week the latest fossil fuel giant to pare back some of its clean energy ambitions, and it almost…
US to Take Majority Control of Venezuela's Oil Wealth
Good morning. The US is taking the reins of Venezuela's oil wealth. India's growth isn't keeping pace with Modi's developed-nation dream. And SpaceX sends NASA's dark energy hunter into space. Listen to the day's top stories. The US is set to take…
Top Indian Oil Producer to Build $736 Million Strategic Reserves
India's biggest oil explorer, Oil and Natural Gas Corp., plans to build strategic crude reserves as the country seeks to strengthen its buffers against supply disruptions. The state-run producer will invest 70 billion rupees ($736 million) to…
Why Trump's Venezuela Oil Deal Makes Free-Market Sense
On Friday evening, President Donald Trump announced on Truth Social that his administration had entered 'THE BIGGEST OIL DEAL IN WORLD HISTORY!' Under the deal, the United States would take a 35% passive stake in North American Blue Energy…
Trump to meet US oil executives as Iran war keeps fuel prices high
US President Donald Trump will meet oil refining executives on Tuesday as he tries to tame fuel prices sent spiralling by the Iran war ahead of midterm elections in November, the White House said. The talks at the White House also come days after…
Oil prices jump after renewed attacks between US, Iran
Crude oil prices jumped on Monday after the U.S. attacked Iran's Larak Island, prompting Iran to retaliate, the first known military action from either country after weeks of stalemate. Futures for Brent crude, the international benchmark, for…
The Latest: Trump says Venezuela agreed to give US control of 65 billion barrels of oil reserves
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