Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Indonesia takes on Malaysia in battle over palm oil pricing
Indonesia produces and exports more palm oil than any other country, but when it comes to setting the price, it still plays second fiddle to Malaysia. President Prabowo Subianto wants to change that. On August 14, he announced a new exchange for…
Oil falls as US prepares to unveil new Iran sanctions
SINGAPORE, Aug 24 (Reuters) - Oil prices slipped more than $1 a barrel on Monday as investors took profits ahead of an expected announcement from Washington about imposing more sanctions on Iran that may further disrupt supplies from the…
Oil Falls on Possible Position Adjustments Before Potential U.S. Sanctions on Iran
2353 GMT — Oil falls in early Asian trade on possible position adjustments. The U.S. is expected to announce new economic sanctions against Iran on Monday as the impasse over the Strait of Hormuz persists amid no signs of a deal between…
World's largest heavy lift vessel carries oil platform to Shetland
John Johnston BBC Scotland, Shetland The world's largest lifting vessel has arrived in Shetland carrying a giant North Sea oil platform to be broken up. Allseas's Pioneering Spirit is 1253ft (382m) long and 407ft (124m) wide, with a 5,000 tonne…
World's largest heavy lift vessel carries oil platform to Shetland
The world's largest lifting vessel has arrived in Shetland carrying a giant North Sea oil platform to be broken up. Allseas's Pioneering Spirit is 1253ft (382m) long and 407ft (124m) wide, with a 5,000 tonne crane for lifting the topsides of…
Crude Oil Prices, Geopolitical Tensions to Influence Indian Stock Market
Indian stock markets are poised for volatility as analysts highlight crude oil prices and geopolitical developments, particularly the US-Iran conflict, as key factors influencing market movements, alongside crucial insights from the Jackson Hole…
Oil prices fall as investors await 'toughest' U.S. sanctions on Iran
Oil prices fell as investors awaited details of what Washington has billed as its toughest-ever sanctions campaign against Iran. U.S. Treasury Secretary Scott Bessent is set to unveil a new package of sanctions against Iran later. Oil prices fell…
Woodside oil spill plan under fire as approval decision nears
Opponents of Woodside's Browse gas project have accused the energy giant of understating its oil spill risk. The company's modelling of its most 'credible' scenario relies on a technology its competitor rejected. Woodside is seeking both state and…
Oil Prices Retreat as Markets Await Tougher Iran Sanctions
Oil prices pulled back on Monday as traders locked in profits following two weeks of strong gains, while markets remained focused on looming U.S. sanctions against Iran and the risk of further supply disruptions in the Middle East. Brent crude…
Hormuz crisis hides a deeper oil threat that could outlast the war
As global attention remains fixed on tankers moving through the Strait of Hormuz, a petroleum geologist is warning that the more consequential energy story may be unfolding thousands of feet underground — and could continue long after any…
Norway Backs Barents Sea Oil and Gas Expansion
Norway plans to continue developing oil and gas resources in the Barents Sea despite European Union support for restrictions on new Arctic hydrocarbon projects, Energy Minister Terje Aasland said. Since Russia invaded Ukraine in 2022, Norway has…
Ukraine should focus on hitting Russian oil infrastructure
On Friday I sent out a piece entitled “The US does not understand air power, does Ukraine?” It caused a little stir. People have called it the anti-Wildberries campaign, which I suppose is partly right. However, the key thing was that…
The Iran war could last 'deep into 2027' as the Strait of Hormuz isn't that closed, allowing more oil to leak out-but major escalation is likely soon
One of the hottest debates in the energy industry right now is how much oil is actually coming out of the Persian Gulf, and the answer could determine how long the Iran war lasts. Iran insists the Strait of Hormuz is closed and that it has control…
Oil falls as Trump pledges economic war on Iran
Oil prices fell on Monday (August 24, 2026) as investors braced for details of a U.S. plan to isolate the Iranian economy that President Donald Trump billed as the “most crushing” financial operation ever against Tehran. Asian stocks…
Oil falls as Trump pledges economic war on Iran
Asian stocks were mostly down in early trading, with South Korea's tech-rich Kospi falling 1.4 percent after Samsung Electronics said it spent a massive $80 billion to buy back its own shares following weeks of turbulent trading. The chip giant's…
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