Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Diamondback Energy Profit, Revenue Jump as Oil Production Rises
recorded higher profit and revenue in the third quarter and oil production continues to increase. The oil and natural gas company on Monday posted a profit of $1.02 billion, or $3.51 a share, in the quarter ended Sept. 30, compared with $659…
Oil steadies as market digests Opec+ output plans
OIL prices were little changed early on Tuesday as markets weighed OPEC+'s decision to pause output hikes in the first quarter even as concerns over a looming supply glut persisted. Brent crude futures fell 9 cents, or 0.1%, to $64.80 a barrel by…
Oil Edges Lower Amid Supply Concerns
0106 GMT — Oil edges lower in the early morning Asian session amid supply concerns. According to the IEA, with continued increases in supply from OPEC+, the U.S., Canada and Guyana, the market will have to navigate a significant surplus…
It's True: You Should Never, Ever Pour Oil Down Your Drain. Do This Instead.
“The cardinal rule is, never, ever dispose of [oil] down the drain, literally ever,” says updates writer Abigail Bailey, who recently used a lot of vegetable oil while testing countertop fryers for an update to our deep fryer guide.
Oil Dips as Market Weighs OPEC+ Pause and Oversupply Concerns
Oil dipped after a four-day run of gains as the market weighed OPEC+'s decision to pause output hikes early next year and contrasting views on supply. West Texas Intermediate traded near $61 a barrel, while Brent settled just below $65 on Monday.
Oil price rises after Opec+ pauses oil output hikes amid glut fears - business live
Morgan Stanley has raised its near-term forecast for crude oil prices following OPEC+'s decision to pause production hikes. The Wall Street bank said on Monday it was lifting its Brent estimate to $60 a barrel for the first half of 2026, up from…
Abu Dhabi hosts oil summit as OPEC+ halts production hikes planned for first quarter of 2026
ABU DHABI, United Arab Emirates -- Abu Dhabi hosted a major oil summit Monday, hours after the OPEC+ group of the cartel and its allies said it would halt further production increases planned in the first quarter of 2026 over concerns of too much…
UAE Says No Oil Oversupply Concerns After Latest OPEC+ Decision
There are no concerns about an excess of oil in the market as demand remains strong, the United Arab Emirates said a day after OPEC+ decided to halt its output increases for the first three months of next year. “I'm not going to talk about…
Is Hemp Oil CBD Oil the Same?
No, hemp oil and CBD oil are not the same, although they both originate from the hemp plant. The key difference lies in which part of the plant each oil is extracted from, and consequently, their respective compositions and primary uses. The hemp…
SM Energy is acquiring Civitas in $13 billion oil and gas merger of near equals in the Permian Basin
Oil and gas producers SM Energy and Civitas Resources will combine in a $12.8 billion merger of near equals that will expand SM as a major producer in the booming Permian Basin. The two Denver-based energy players said Nov. 3 they are combining…
Big Oil CEOs Warn Trump's Russia Sanctions Will Hit Supplies
Oil supply will be hit after US President Donald Trump's sanctions on Russia's two biggest producers. The curbs on Rosneft PJSC and Lukoil PJSC, which account for about 60% of Russia's supply, will have an impact as cargoes are delayed and things…
OPEC+ 2026 pause on production hikes allays fears of oil glut
Many domestic oil and gas executives said this price level was one at which pursuing new drilling in the United States was no longer profitable, especially due to higher supply chain costs resulting from tariffs on products such as steel. Some even…
Forties oil field in the North Sea reaches 50th anniversary - BBC News
A North Sea oil field has reached its landmark 50th anniversary. The Forties field - which was one of the most important in the establishment of the industry in the area - was inaugurated in Aberdeen by Queen Elizabeth II on 3 November 1975. The…
The Billionaire Trader Who Swooped In on Russia's Overseas Oil Empire
Torbjörn Törnqvist has just struck one of the deals of his lifetime, pouncing on the overseas operations of Lukoil soon after the Russian oil producer was hit with U.S. sanctions. If Washington and London approve it, the acquisition will…
OPEC+ Shows Its Pursuit of Oil Market Share Has Limits
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, reporter Grant Smith looks at the weekend's OPEC+ decision. OPEC+ just demonstrated how far it's willing to go in pursuit of oil market…
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