Oil Industry News

Chinese, Indian oil sectors eye deeper energy cooperation in oil, new energy and green development

China National Petroleum Corporation Chairman Dai Houliang (right) meets with India's Minister of Petroleum and Natural Gas Hardeep Singh Puri in New Delhi, India, on September 11, 2026. Photo: Courtesy of CNPC China National Petroleum Corporation…

Houthi gains in Yemen, attack on Saudi pipeline compound pressure on oil markets

Yemen's Houthi rebels seized more islands in the strategically crucial Bab al-Mandab Strait today and now control the west coast of the country on the Red Sea. In the meantime, a crucial pipeline in Saudi Arabia will be out of commission for weeks…

UK could 'unlock' 100 more oil and gas projects, say North Sea bosses

The UK could supply half of its oil and gas needs without imports if the government showed more support for the sector, an industry report claims. Offshore Energies UK (OEUK) said changes to the windfall tax on energy firms and approval of the…

UK could 'unlock' 100 more oil and gas projects, say North Sea bosses

Scotland environment, energy and rural affairs correspondent The UK could supply half of its oil and gas needs without imports if the government showed more support for the sector, an industry report claims. Offshore Energies UK (OEUK) said changes…

Saudi Arabia could run out of oil for export within days as pipeline shut

Saudi Arabia will soon run out of oil to export if it does not restart quickly its major pipeline that was closed following drone attacks, it has been reported. The kingdom announced on Friday it had shut its East-West oil pipeline as a precaution…

Saudi Arabia appeals to US as pipeline closure and Houthis spike oil prices

The Houthis continued their advance on Monday, seizing two more key islands in the Bab el-Mandeb Strait, as the Saudis continued their appeals to the United States for further assistance. Saudi Crown Prince Mohammed bin Salman received U.S. Central…

Donald Trump chillingly claims US could keep Iranian oil 'like Venezuela

Donald Trump has threatened that the US could continue the war with Iran and keep its oil 'like Venezuela'. The US President spent his weekend in Ireland for golf but did not pass on talking about politics and his role in the Middle East war.

UK Government action could 'unlock' 100-plus oil and gas projects, say bosses

Get our award-winning daily news email featuring exclusive stories, opinion and expert analysis I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. More than 100 new oil and gas projects could…

China's oil demand could falter as Saudi pipeline shutdown raises costs

As the shutdown of Saudi Arabia's major oil pipeline tightens global crude supply, shipments to China remain relatively insulated in the near term, though rising prices and freight costs are set to dampen demand, according to analysts. Drone…

Oil prices up after new strikes on Saudi infrastructure

Oil prices on Monday leaped more than 4 percent after Yemen-based militant Houthis struck Saudi Arabia's infrastructure and ships, leaving one crucial pipeline out of service for weeks. The global benchmark for crude oil, Brent crude, settled at…

Oil's 40% surge puts fuel costs in focus for airline, cruise industry (CCL:NYSE)

The cruise and airline sectors—both heavily impacted by the price of fuel—continue to move inversely to oil futures, trending lower on Monday in tandem with oil futures challenging $110 per barrel. Within the cruise industry, Carnival…

The Oil Market Needs a Quick Saudi Pipeline Restart

This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Alex Longley looks at the oil market repercussions from Saudi Arabia's closure of a key pipeline. Last week's hit to Saudi…

Enbridge (ENB) Expands its U.S. Oil Footprint with Tallgrass Acquisition

Enbridge Inc. (NYSE: ENB) has agreed to buy Blackstone-owned Tallgrass Energy's crude oil business for $2.55 billion in cash, expanding its presence in the U.S. liquids pipeline market. The deal includes a 75% stake in the 1,050-mile Pony Express…

Costco starts rationing motor oil. Could Walmart be next?

Costco has reportedly started rationing its house brand of motor oil this week, limiting purchases to two boxes per week, as drivers across the country continue facing higher gas and diesel prices. The membership-only warehouse club, which has long…

FTSE 100 Futures Rise as Oil Marches Higher