Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Palm oil industry to remain stable in 2026, focusing on R&D, yield improvement - Johari
BANGI: Malaysia's palm oil industry is expected to remain stable and competitive next year, driven by continued emphasis on research and development (R&D), yield improvements and sustainable practices in line with global market requirements, said…
Venezuela's Oil Is a Focus of Trump's Campaign Against Maduro
The Nobel Peace Prize winner made her pitch by live video to a business conference in Miami attended by American executives and politicians, including President Trump. “I am talking about a $1.7 trillion opportunity,” María…
Russia Oil Prices Hit Lowest Since War Began on Western Pressure
Russian crude prices are at their lowest since the war in Ukraine began, as sanctions deepen the discounts the nation's oil industry needs to offer and benchmark futures tumble. On average, Russian oil exporters are receiving just over $40 a barrel…
Maduro speaks out on US oil tanker 'theft'
Venezuela's President Nicolás Maduro has accused the United States of “kidnapping” crew members after the seizure of an oil tanker, calling the act a threat not only to his country, but to global trade and respect for…
Oil Falls Amid Prospects of Russia-Ukraine Peace Deal
0115 GMT — Oil falls in Asian trade amid prospects of a Russia-Ukraine peace deal. The U.S. pledged to protect Ukraine from any future Russian attack, U.S. officials said, offering to support European security guarantees. Ukrainian President…
EU imposes sanctions on oil traders with links to Russia's shipping network
The European Union adopted fresh sanctions against Russian oil interests on Monday, targeting traders Murtaza Lakhani and Etibar Eyyub for helping Moscow to circumvent Western sanctions on crude exports that help to fund Russia's war in Ukraine.
US oil and gas industry sets production records in November, led by Texas
(The Center Square) – The U.S. oil and natural gas industry set oil and natural gas production records in November. Crude oil output reached an estimated 5.9 million barrels per day in November, the highest level ever recorded in U.S.
Ghana's oil and gas resources remain key drivers of economic growth - Dr Sulemana
The Technical Advisor and Second Gas Processing Plant Focal Point at the Ministry of Energy and Green Transition, Dr Yussif Sulemana, has underscored the critical role of Ghana's oil and gas resources in driving economic growth and national…
'Ghost ships' ferrying illicit oil have sailed into Trump's crosshairs
After the U.S. seized a tanker carrying Venezuelan crude oil, the shadowy fleet of 'ghost ships' used to evade sanctions drifted squarely into President Donald Trump's crosshairs. On Dec. 10, Trump announced the seizure of the 'Skipper,' a vessel…
Pakistan seeks oil deal with Russia as energy ministries hold talks: report
Russia and Pakistan are in talks on a potential oil-sector agreement, Pakistan's Finance Minister Muhammad Aurangzeb told RIA news agency in remarks published on Tuesday (December 16, 2025). “All of these areas are Russia's strengths. And we…
Commodities: Ceasefire Hopes Weigh On Oil
ICE Brent settled a little more than 0.9% lower, leaving it at $60.56/bbl - the lowest close since May. Cocoa sold off aggressively yesterday. The London market settled a little more than 7% lower, pressured by strong cocoa arrivals at the Ivory…
Key Corner of US Oil Market Is Flashing Signs of Supply Glut
A corner of the US crude market closely watched by physical traders is signaling oversupply in the latest indication that a global glut has reached domestic shores. Light, sweet West Texas Intermediate at the Magellan East Houston terminal is…
Venezuela Says Oil Export System Down After Weekend Cyberattack
Venezuela's state oil company is still struggling to restore key administrative systems after what it called a cyberattack that hit over the weekend. Petroleos de Venezuela SA 's network, which manages export and import data at the country's main…
Venezuelan Oil Stored at Sea Shields China as US Pressure Rises
A hoard of Venezuelan crude on tankers at sea will provide a cushion for Chinese refiners — the biggest buyers — should the US escalate hostilities against the OPEC producer and disrupt exports. The volume of oil stored on ships is…
Chile's ENAP signs landmark deal to import Argentine crude oil
SANTIAGO, Chile, Dec. 15 (UPI) -- Chile's state-owned energy company, ENAP, has signed a landmark agreement with four Argentine firms to import crude oil from the Vaca Muerta region, securing supply through 2033. Under contracts with YPF, Shell…
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