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 Industry Is Bruised, and Consumers Will Be Feeling the Pain
We're coming to the end of summer road trip season, and that might be a good thing. As Bloomberg News oil markets reporter Mia Gindis writes today, higher energy prices are working their way down to consumers. Plus: Polio is widely considered a…
Forget crude oil. The real energy crisis right now is in diesel
The average price of diesel gas on Wednesday hit its highest level since the Iran war started, as a global supply bottleneck tightens and seasonal demand is poised to rise. The fuel that powers everything from boats and trains to farm equipment and…
The Venezuelan oil deal is a strategic victory for Trump's new Monroe Doctrine
Regardless of criticism or credit, the U.S.-Venezuela oil agreement marks an unprecedented geopolitical victory for the U.S. More than 65 billion barrels of oil will bolster American energy dominance, help lower gas prices, drive Venezuela's…
The Latest: Chevron expanding in Venezuela as Trump deal claims more oil reserves
Oil giant Chevron confirmed that it will expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Canadian Prime…
Italy's Eni Plans Major Increase in Venezuela Oil Production
Italian energy producer Eni SpA aims to eventually lift its Venezuelan production to more than 1 million barrels a day, according to people familiar with the matter, a figure that includes volumes from state-owned Petróleos de Venezuela SA…
Venezuela's New Crop of Oil Barons Step Up Their Dealmaking
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, senior reporter Peter Millard looks at the newest names in Venezuelan oil. Amid the flurry of dealmaking around Venezuela's battered…
Chevron to expand oil footprint in Venezuela with $7 billion investment
Chevron is the only U.S. oil company currently operating in the country. “Chevron's history in Venezuela spans more than a century, and our expanded position reflects our confidence in the country's deep resource potential and its ability to…
US oil giant Chevron confirms it will expand operations in Venezuela
Oil giant Chevron confirmed that it will expand its operations in Venezuela, just days after President Donald Trump announced an ambitious deal to develop the nation's oil reserves and give the Pentagon a stake in the profits. Chevron, the only…
FTSE 100 falls as higher oil prices add to investor worries
News from the City, market updates plus comment and analysis from our business desk I would like to be emailed about offers, event and updates from Evening Standard. Read our privacy notice. Stocks in London fell on Wednesday as elevated oil prices…
Trump says Venezuelan oil could replenish depleted U.S. stockpiles. Will it?
President Trump has framed last week's deal for the U.S. government to take a stake in Venezuela's oil reserves as a boon not just for gas prices, but also for the Strategic Petroleum Reserve, which has dropped to historically low levels. 'One of…
Trump ally defends Venezuela oil deal amid 'gunpoint diplomacy' criticism
The US energy secretary, Chris Wright, has denied Washington is seeking to commandeer huge quantities of Venezuelan oil, amid growing criticism of Donald Trump's energy deal with the country's interim leaders. “Absolutely not,” Wright…
Oil Shipments to India Face Delivery Hurdles on Mideast Snarls
Oil shipments to India have been disrupted by a resurgence of fighting in the Middle East, with at least two refiners forced to arrange more costly, alternative cargoes after planned deliveries didn't arrive on time. State-run Bharat Petroleum…
Kalshi Seeks Never-Expiring Oil Futures Amid 24/7 Trading Debate
Kalshi Inc. will seek regulatory approval for an oil-linked futures contract that never expires, a move that would bring a product popular in crypto markets into the traditional energy sphere as the industry debates the risks of round-the-clock…
Museveni names Uganda's crude oil 'Pearl Sweet' as first oil nears
President Yoweri Museveni has christened Uganda's crude oil “Pearl Sweet”, with the slogan “Born of the Pearl”, as the country enters the final stretch towards commercial oil production. Museveni unveiled the name today…
Chevron Expands in Venezuela Days After Big Trump Oil Deal
A recent deal brokered by the Trump administration with Venezuela's government has given the United States an ownership stake in a large proportion of Venezuelan crude oil, which is interesting primarily because Venezuela has, by far, the largest…
Receive a Daily briefing on Oil Industry News
Get Started