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 officials tout U.S. energy dominance as global oil executives warn of supply crisis
U.S. officials this week said the historic spike in fuel prices during the war in Iran will be short-term and trumpeted record U.S. production at an industry conference where oil executives and government officials from Asia, the Middle…
China industrial profits surge 15% to start year, but oil price shock threatens outlook
Chinese industrial firms saw their profits surge in the first two months of this year as officials pressed ahead with efforts to contain the fallout from industrial overcapacity and lackluster consumer demand. Industrial profits jumped 15.2% from a…
Oil Falls on Trump Pausing Attacks on Iran's Energy Sector
0010 GMT — Oil falls in early trade after President Trump said he's pausing attacks on Iran's energy sector for another 10 days as per Iran's request. In a Truth Social post, Trump added that “talks are ongoing” with Tehran.
Oil Drops as Trump Pushes Back Timeline for Iran Energy Strikes
Oil fell after President Donald Trump again pushed back a deadline for striking Iran's energy sites, offering the market near-term respite while prolonging uncertainty over the course of the war well into April. West Texas Intermediate dropped as…
Beyond oil: The crucial exports blocked by Hormuz closure
The interruption of oil and gas supplied through the Strait of Hormuz due to the US-Israel war with Iran has dramatically pushed up global energy prices. Petrol has gone up already and UK domestic heating bills are almost certain to follow. But…
Trump reveals Iran's oil 'present'
Trump told reporters at the White House he was having “very substantial” talks with Iran as the conflict continues. He said that during his discussion with Tehran, “they said ‘to show you the fact that we're real and…
Exclusive: Oil magnate's Venezuela detainment spooks industry
Oil tycoon Wilmer Ruperti showed up for a meeting with Venezuela's intelligence agency last Thursday. A week later, he's still in custody, one of his lawyers told Semafor. “We've reached out to everybody trying to get proof of life or some…
Better Oil Stock: Chevron vs. Devon Energy
The geopolitical conflict in the Middle East has the world watching oil and natural gas prices. The daily flow of news can drive energy prices higher or lower, depending on how fast-changing events are perceived by financial markets. This…
Oil Prices Fall as Trump Pauses Attacks on Iranian Energy Plants
Perth: Oil prices fell in early trade on Friday and were down over a volatile week after U.S. President Donald Trump said talks with Iran to end the war were going 'very well' and announced he would pause attacks on the country's energy…
Economist: Brace for lingering oil market pressure
KUALA LUMPUR: Malaysians are advised to prepare for a prolonged period of pressure in the oil market even if the conflict in West Asia eases in the near term. Universiti Teknologi PETRONAS adjunct lecturer Samirul Ariff Othman said Malaysia's real…
Sabah deserves diesel subsidy as oil and gas producer, says Ewon
KOTA KINABALU: Sabah deserves diesel subsidies as a major oil and gas producer, says Datuk Ewon Benedick. The Deputy Chief Minister III said revenue from Sabah's oil and gas industry has contributed to the development of other states without…
How Japan Can Use the Oil Market to Support the Yen
Japan's heavy reliance on imported oil means swings in crude prices feed quickly into its currency and trade balance. The government has hinted that it might step into the oil market in an indirect bid to support the weakening yen, as the war in…
Opinion | As oil-shocked world turns to renewables, China will reap the rewards
The Iran war's oil shock has dramatically increased the security risk for oil-dependent countries, incentivising a turn towards renewable energy. This impact will outlast the war and oil price spikes because the world knows this war will recur.
Oil ends higher amid Mideast escalation fears
NEW YORK: Crude futures closed higher on Thursday, rebounding from the previous session's losses, as hopes for a swift end to the war in the Middle East faded. Brent futures rose US$5.79 or 5.7% to settle at US$108.01 per barrel on Thursday, while…
Stock market has its worst day since the war with Iran started and crude oil prices rise
NEW YORK (AP) — Stocks fell sharply Thursday, and oil prices rose as doubt took over again from hope on Wall Street about a possible end to the war with Iran. The S&P 500 slumped 1.7% for its worst day since January and is back on track for…
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