Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
Oil industry prompts government to discourage hoarding as petrol stocks decline to 14-day cover
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…
Oil shock: how China influences global markets
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…
Top 10 Oil-Producing Countries In The World, According To The EIA
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…
Oil Market Can't Live Without Hormuz Barrels for Long
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…
ConocoPhillips to Buy 42% Stake in BP's Iraq Kirkuk Oil Venture
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…
The report oil companies are worried about: Climate attribution science
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…
US Power Market Protected From Iran Oil Shock, LS Power Says
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…
World stocks fall in semiconductor rout; oil rises on Middle East escalation
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…
Latin America's Oil Boom
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…
Oil prices on upswing as U.S. hits Iranian port - TT
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…
South Korea secures 74% of September crude oil needs
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…
US military boards oil tanker in Gulf of Oman
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…
World's largest olive oil company says market has 'definitively' entered new phase
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…
Red Sea shutdown risk looms as US-Iran tensions threaten another oil surge
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…
Macro Insights: Oil Tensions Resurface, Cracks In Memory, Sectoral Merry-Go-Round At Play
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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