Oil Industry News
A collection of Oil latest news, analysis and best practices from top business influencers and the world's most trustworthy sources.
'No friends to the oil and gas industry': Aberdeen South, the byelection where one topic dominates
The contest for Aberdeen South, a constituency that spans urban social housing and detached homes with sculpted gardens, has been dominated by one topic: the future of North Sea oil and gas. The drama gripping the Labour party at Westminster and…
Daily on Energy: Oil tumbling, Strait watch, and a $500M rare earths loan
Welcome to Daily on Energy, written by Washington Examiner energy and environment writers Callie Patteson (@CalliePatteson) and Maydeen Merino (@MaydeenMerino). Email cpatteson@washingtonexaminer dot com or mmerino@washingtonexaminer dot com for…
Oil Prices Might Not Go Back to Normal Anytime Soon
“Ships of the World, start your engines,” Donald Trump declared on Truth Social on Sunday. “Let the oil flow!” This was the president's way of announcing that the United States and Iran had reached an agreement to end…
Watch Oil Selloff Seen as 'Unwarranted' by Rapidan's McNally
Oil Selloff Seen as ‘Unwarranted' by Rapidan's McNally Bob McNally, founder and president at Rapidan Energy Group, says oil is “oversold,” but he expects the markets to retrace as he examines reaction to the interim deal…
An oil bull's 'insane' bet: Why this veteran trader is buying energy stocks as crude prices tumble
With a U.S.-Iran peace deal seemingly within grasp, it's not looking great for those who bet on rising oil prices. Global benchmark Brent and West Texas Intermediate crude have each dropped 16% in the last five sessions. However, Kevin Muir, the…
Is Oil's Peak Behind Us? Does It Matter For Midstream?
In late May, energy executives were highlighting the rapid depletion of global inventories and the risk of an oil price spike. With a potential peace deal and reopening of the Strait in the works, Brent oil prices fell below $90 per barrel last…
Ex-Nigerian Oil Minister Cleared of Bribery by London Jury
Former Nigerian oil minister, Diezani Alison-Madueke, was cleared of all bribery charges following a London trial that lasted for five months. Alison-Madueke, minister for petroleum resources in Africa's biggest oil producer from 2010 to 2015, was…
Libya May Be Next in Oil-Fueled Trump Strategy
Welcome to Balance of Power, bringing you the latest in global politics. If you haven't yet, sign up here. One of the clearest threads running through US President Donald Trump's often unpredictable foreign policy is a drive for energy dominance:…
Repsol to Explore Venezuela's Horcon Area for Oil After Signing Agreement With Government
Spain's Repsol said it signed an agreement with the Venezuelan government to explore and potentially develop an oil deposit in the Horcon area, located southeast of Lake Maracaibo. The memorandum of understanding with the government and state oil…
Oil Futures Rise on Likely Technical Recovery
2333 GMT — Oil futures rise in early Asian trade on a likely technical recovery after futures fell for a fourth consecutive session on Tuesday. While the U.S.-Iran memorandum of understanding to end the conflict is “clearly positive…
Oil Market Could Go From Famine to Feast
Even if a deal to reopen the strait holds, it won't be until the final three months of the year that oil supplies exceed prewar levels, according to the IEA. At that point, the market could move into a glut, weighing further on prices.
Futures Mixed, Oil Rises On Trump's New Iran Threat
Dow Jones futures edged lower early Wednesday, while S&P 500 futures and Nasdaq futures rose modestly. President Donald Trump issued new Iran threats. The Federal Reserve will conclude its two-day policy meeting on Wednesday afternoon, with new…
Nymex Overview: Oil Extends Losses on Report of Immediate Iran Oil Sales Under Deal -- OPIS
Crude oil contracts fell around $5/bbl around midday Tuesday, continuing their recent sharp declines, after the Wall Street Journal reported the U.S. will allow Iran to immediately begin selling oil and fuel under the deal to end the war. The…
Shift From Oil to Renewables Defines Aberdeen's Election Race
Few places illustrate the tensions of Britain's energy transition more clearly than Aberdeen in north-east Scotland, where thousands of jobs remain tied to North Sea oil and gas even as governments promise a greener future. The gap between a…
Total Oil Trading Gain Doubled to About $1 Billion Last Quarter
TotalEnergies SE 's oil trading profits doubled to about $1 billion in the first quarter as the energy giant went on a crude buying spree in the run-up to the Iran war, Chief Executive Officer Patrick Pouyanné said. “This quarter…
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