Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
The oil market is facing a transportation crisis that suggests energy costs aren't falling soon
Oil prices have fallen from wartime peaks, but a broader transportation crisis in the crude market suggests it may not matter so far as preventing further pain for consumers. Energy costs have been top of mind for investors for most of this year as…
Trump Is Making Deals with Big Oil
Bluesky With the US midterm elections less than three weeks away, is it any surprise that corruption has emerged as voters' top concern? “Corrupt” was the adjective most often chosen when registered voters were asked for a single word…
Oil falls as investors assess Mideast tensions, International Energy Agency's report
A Singapore-registered ship was sunk in the critical Strait of Hormuz. Iran said it was 'counting the moments' until it can strike U.S. warships. IEA's in its October oil report cautioned that constraints on diesel markets could continue well into…
Ukraine to restart strikes on Russian oil refineries, Zelensky says
Ukraine will resume strikes on Russian oil refineries, Volodymyr Zelensky has said, as he accused the US of withdrawing crucial support. The Ukrainian president said he had restricted such attacks for three days at Washington's behest, while Russia…
Oil Futures Fall on Possible Position Adjustments
0039 GMT — Oil futures fall in early Asian trade on possible position adjustments after rising overnight but near term losses are likely to be limited by ongoing Middle East tensions. Yemen 's Houthi militants struck a building at the…
Meet the Minnesota-based coconut oil company changing lives in the Philippines
Erik Olsen knew there was a mission to accomplish before he even knew what it was. It's what led him to leave a successful business venture for war-torn Iraq in 2003. 'My mom thought I was going to come back in a coffin,' he jokes decades later.
Oil prices steady as uncertainty surrounds global supply - TT
A pump at a Buc-ee's station Oct. 12 in Johnstown, Colo. (David Zalubowski/AP) Tensions and uncertainties surrounding global oil supply and the situation in the Middle East dragged on. Tech stocks appeared to be headed for another sell-off before…
Ukraine Resumes Strikes on Russian Oil Refineries
Welcome back to World Brief, where we're looking at Ukraine defying U.S. President Donald Trump's demand for an energy cease-fire, calls for Albanian Prime Minister Edi Rama to resign, and a new border crossing between China and North Korea.
IEA agrees to release outstanding 100 million barrels of oil - TT
The Strategic Petroleum Reserve storage at the Bryan Mound site in Freeport, Texas. (Brandon Bell/Getty Images via Bloomberg News) International Energy Agency members agreed Oct. 15 to complete the release of 100 million barrels of oil still…
Greenland counters Trump's claims of 'massive' oil, gas drilling
Oct. 14 (UPI) -- U.S. President Donald Trump posted early Wednesday on social media that 'massive' oil, gas and mineral drilling and exploration is about to begin in 'our new and beautiful' Greenland. However, Greenland's government denied that…
How Aramco learned to keep pumping oil under fire
LONDON — When attack drones struck Saudi Aramco's biggest oil pipeline last month, satellite images showed one of its pumping stations burnt to ashes. By the next day, scores of bulldozers were already building a new pipeline. The speed of…
Brian Sullivan: Why the 'real' price of oil is likely $30-$40 higher than where it is now
Physical oil can cost about $38 a barrel more to deliver, as tanker rates surge. Shell, LNG exporters and refiners stand to gain from tight fuel supplies. Tobin Marcus sees a prolonged standoff with Iran. Europe's low gas storage makes winter…
Ukraine launches new attacks against Russian oil refineries after brief truce
“The block [on attacking refineries] is out,” Zelensky declared. “We're done.” The governor of Russia's Ryazan oblast, Pavel Malkov, said in a Thursday post on Telegram that the region came under a…
IEA speeds up oil stock release to curb global fuel prices following US pressure
Member nations “stated their willingness to take further actions to address challenges in global energy markets,” the IEA said. The U.S., ahead of Thursday's meeting, had informally advocated for more oil to be released to stop rising…
Angola Seeks to Keep Oil Output Above 1 Million Barrels a Day
Angola wants to keep crude production above 1 million barrels a day as Africa's third-biggest oil producer tries to offset a decline in output from mature fields. The oil and gas sector remains central to Angola's economy and public finances…
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