Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Putin's War Gets Increasingly Costly for Russia's Oil Industry
This article is for subscribers only. Welcome to our guide to the commodities driving the global economy. Today, Oil Strategist Julian Lee looks at the growing pressure on Russian oil producers and refiners from Ukrainian strikes. Russia's invasion…
Lots of Oil, Little Production: What to Know About Venezuelan Energy
Venezuela sits on more oil than Saudi Arabia, Russia, the United States and every other country. Yet, it produces and sells only about 1 percent of the crude the world is using. President Trump's recent threats against the Venezuelan government and…
Russia and India's Complicated Relationship Hinges on Oil
When it comes to oil, few countries have needed each other more than Russia and India in recent years. Now, that relationship is being tested. Indian Prime Minister Narendra Modi hosted Russian President Vladimir Putin in New Delhi this week, just…
California Resources Reports Oil Fluid Spill in Monterey County
A pipeline owned by California Resources Corporation subsidiary Aera Energy spilled 130 barrels of produced fluid — a mixture of oil and water — early Friday morning at an oil field in Monterey County in California's Central Coast.
Felda proposes establishing national taskforce to develop oil palm carbon framework
GENTING HIGHLANDS: The Federal Land Development Authority (FELDA) has proposed the establishment a national task force led by the Ministry of Natural Resources and Environmental Sustainability to ensure that Malaysia develops a robust, transparent…
Florida congressional Republicans tell Trump to keep oil drilling off state's coasts
WASHINGTON (AP) — Florida's Republican-dominated congressional delegation is urging the Trump administration to drop a plan that would allow new oil drilling for the first time in decades off the state's coast. A letter signed by Republican…
OPEC's Oil Production Remained Steady Last Month, Survey Shows
OPEC's crude production was steady last month as the group maintained a cautious strategy while global oil markets falter, a Bloomberg survey showed. The Organization of the Petroleum Exporting Countries pumped an average of just over 29 million…
Florida congressional Republicans tell Trump to keep oil drilling off state's coasts
Getting your Trinity Audio player ready... WASHINGTON — Florida's Republican-dominated congressional delegation is urging the Trump administration to drop a plan that would allow new oil drilling for the first time in decades off the state's…
Oil prices hold steady due to stalled Ukraine peace talks and supply outlook
Sharply_done | E+ | Getty Images Oil prices were steady on Friday, supported by stalled Ukraine peace talks, though gains were offset by expectations of a supply glut. Brent crude rose 41 cents, or 0.65%, to $63.67 per barrel by 10:07 a.m ET. U.S.
'Uninterrupted oil shipments': Key takeaways from Putin-Modi talks in Delhi
New Delhi, India – Under a thick blanket of smog in the world's most polluted city, the leaders of Russia and India put on a display of diplomatic resilience, projecting a message that their bilateral partnership remains insulated from…
Oil prices head for 2% weekly gain as Fed hopes boost market, Venezuela tensions loom
Commodities WTI OIL prices were heading for weekly gains of close to 2% in early trading on Friday, supported by an expected Federal Reserve interest rate cut, escalating U.S.-Venezuela tensions and stalled peace talks in Moscow. It would be a…
Florida congressional Republicans tell Trump to keep oil drilling off state's coasts
Florida congressional Republicans tell Trump to keep oil drilling off state's coasts IS SCHEDULED FOR TUESDAY AND WEDNESDAY. RIGHT NOW, LOOKING FOR WAYS TO CUT DOWN FLORIDA'S CHIEF FINANCIAL OFFICER, CALLING OUT PALM BEACH COUNTY FOR REPORTEDLY…
Oil Edges Down After Recent Gains; Ukraine Tensions, Fed in Focus
0256 GMT — Oil ticks down in Asia after settling higher overnight, but stays on track for a weekly gain. Geopolitical issues have supported prices over the week, with markets watching for supply risks from the Russia-Ukraine conflict and…
M-cyclists flock to free engine oil change, helmet exchange booths at Madani event
PUTRAJAYA: The exchange of old crash helmets for new ones and the free motorcycle engine oil change service received an overwhelming response on the first day of the 'Rancakkan Madani” held at Dataran Putrajaya on Friday (Dec 5). A Bernama…
Crude Oil Rallies on Geopolitical Tensions and Energy Demand Optimism
January WTI crude oil (CLF26) today is up +0.41 (+0.69%), and January RBOB gasoline (RBF26) is up +0.0093 (+0.51%). Crude oil and gasoline prices are moving higher today, with crude oil posting a 2-week high. Crude prices are supported by the…
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