Oil Industry News

A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.

dawn.com - Khaleeq Kiani - Oil industry prompts government to discourage hoarding as petrol stocks decline to 14-day cover
Oil industry prompts government to discourage hoarding as petrol stocks decline to 14-day cover
Dawn

ISLAMABAD: Pakistan's oil supply chain players appeared nervous as petrol stocks declined to a 14-day cover on Thursday, prompting the government to urgently address procedural issues and activate enforcement mechanisms to discourage hoarding for…

newsweek.com - John Feng - Oil shock: how China influences global markets
Oil shock: how China influences global markets
Newsweek

Energy prices rose sharply this week as Iran moved to close the Strait of Hormuz with more ship attacks and the U.S. military resumed its daily strikes on Iranian targets. Months of disruption to the most important waterway for crude oil trade…

forbes.com - Frank Holmes - Top 10 Oil-Producing Countries In The World, According To The EIA
Top 10 Oil-Producing Countries In The World, According To The EIA
Forbes

Oil has been declared dead more times than I can count, yet the world still consumes more than 100 million barrels of it every day, according to the Energy Information Administration. Petroleum powers planes, trucks and ships. It's used to make…

bloomberg.com - Alex Longley - Oil Market Can't Live Without Hormuz Barrels for Long
Oil Market Can't Live Without Hormuz Barrels for Long
Bloomberg

This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Alex Longley looks at how oil markets are weathering the latest developments in the Strait of Hormuz. The Strait of Hormuz…

yahoo.com - Charles Kennedy - ConocoPhillips to Buy 42% Stake in BP's Iraq Kirkuk Oil Venture
ConocoPhillips to Buy 42% Stake in BP's Iraq Kirkuk Oil Venture
Yahoo!

ConocoPhillips has agreed to acquire a 42% interest in BP Energy Company of Kirkuk Limited from BP, marking its entry into the redevelopment of some of Iraq's largest producing oil fields and expanding its exposure to long-life, low-cost…

arstechnica.com - John Timmer - The report oil companies are worried about: Climate attribution science
The report oil companies are worried about: Climate attribution science
Ars Technica

Climate change is being driven largely by the greenhouse gases we've pumped into the atmosphere, which trap more of the Sun's energy there. That added energy increases the odds of extreme events: longer, more intense heat waves and droughts…

bloomberg.com - Mark Chediak - US Power Market Protected From Iran Oil Shock, LS Power Says
US Power Market Protected From Iran Oil Shock, LS Power Says
Bloomberg

The US power market is “fairly protected” from elevated global oil prices resulting from the Iran War, the head of power plant operator LS Power LLC says. The country has transitioned away from using oil as a “meaningful…

yahoo.com - By Sinéad Carew and Samuel Indyk - World stocks fall in semiconductor rout; oil rises on Middle East escalation
World stocks fall in semiconductor rout; oil rises on Middle East escalation
Yahoo!

By Sinéad Carew and Samuel Indyk NEW YORK/LONDON, July 17 (Reuters) - Share indexes tumbled around the world on Friday, as heavyweight chip stocks plunged for a third consecutive day as investors reduced bets on artificial intelligence, with…

foreignpolicy.com - Catherine Osborn - Latin America's Oil Boom
Latin America's Oil Boom
Foreign Policy

Welcome back to Foreign Policy 's Latin America Brief. The highlights this week: Regional oil exporters show resilience amid the Strait of Hormuz crisis, Honduras rethinks its plans to recognize Taiwan, and Argentina advances to the World Cup…

ttnews.com - Elaine Kurtenbach - Oil prices on upswing as U.S. hits Iranian port - TT
Oil prices on upswing as U.S. hits Iranian port - TT
Transport Topics

Two men wade in the waters of the Strait of Hormuz with vessels anchored in the background, off Bandar Abbas, Iran, on July 12. (Razieh Poudat/ISNA via AP) Oil prices surged as fighting in the Middle East intensified. Oil prices are near their…

upi.com - South Korea secures 74% of September crude oil needs
South Korea secures 74% of September crude oil needs
UPI

July 16 (Asia Today) -- South Korea has secured crude oil supplies for September equivalent to 74% of last year's level as renewed military tensions between the United States and Iran raise concerns about energy shipments through the Strait of…

thehill.com - Filip Timotija - US military boards oil tanker in Gulf of Oman
US military boards oil tanker in Gulf of Oman
The Hill

Take our brief newsletter survey to help us improve the newsletters you read every day. The U.S. military boarded a sanctioned oil tanker in the Gulf of Oman on Thursday as U.S. forces continued to enforce the naval blockade that went into effect…

cnbc.com - Sam Meredith - World's largest olive oil company says market has 'definitively' entered new phase
World's largest olive oil company says market has 'definitively' entered new phase
CNBC

The world's largest olive oil company says a period of unprecedented volatility has 'definitively' given way to more stable market conditions. Favorable rainfall trends across major producing nations, such as Spain, has paved the way for a solid…

scmp.com - Emma Ma - Red Sea shutdown risk looms as US-Iran tensions threaten another oil surge
Red Sea shutdown risk looms as US-Iran tensions threaten another oil surge
South China Morning Post

As tit-for-tat strikes persist following the collapse of a month-long interim truce between the US and Iran, the Red Sea – a critical chokepoint for oil shipments – could be sealed off if tensions escalate, potentially sparking a…

seekingalpha.com - The Macro Brief - Macro Insights: Oil Tensions Resurface, Cracks In Memory, Sectoral Merry-Go-Round At Play
Macro Insights: Oil Tensions Resurface, Cracks In Memory, Sectoral Merry-Go-Round At Play
Seeking Alpha

Geopolitical tensions in the Middle East, especially around the Strait of Hormuz and Bab al-Mandab, are driving oil price volatility and supply risk. Semiconductor and memory stocks, including SK Hynix (SKHY), face mounting risks from oversupply…

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