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Oil
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U.S. Official: We Want to See Legitimate Oil Industry in Venezuela
U.S. Official: We Want to See Legitimate Oil Industry in Venezuela
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Mideast oil-producing nations scramble for pipeline alternatives to Hormuz
Qatar and Kuwait face a tough road finding bypass routes for exports, while Iraq is working to refurbish a pipeline connection to Syria with U.S. help. Japan is also preparing to support efforts by Sa
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Russia slashes 2026 oil production forecast to 494.2 million tons, the lowest since 2009
The downgrade reflects Ukrainian drone attacks, refinery disruptions, and export constraints linked to the war. Crude exports are forecast to rise to 244.7 million tons, while fuel exports are expecte
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Jim Cramer says interest rate cuts look unlikely given current backdrop
Jim Cramer says he doesn't see how interest rates can fall given the current backdrop. He points to Warsh's tough inflation stance, the ongoing war, U.S. allies' dependence on American support, and ra
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The Trump administration announced a historic oil deal with Venezuela, gaining majority control over the country's more than 65 billion barrels of oil reserves.
The White House announced that the agreement, implemented through the private oil company North American Blue Energy Partners (NABEP), grants the U.S. government a 35% equity stake in NABEP's parent c
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Oil Names Mix With AI Stocks On Elite Screen As Three Trade Near Buy Points
An elite screen by Investor's Business Daily (IBD) highlighted oil and AI stocks, with three trading near buy points due to strong relative performance. The screen also noted shipping stocks gaining m
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Trump to meet with oil executives to discuss cutting gasoline prices
President Donald Trump is expected to meet with executives from oil companies at the White House on Tuesday. The discussion will focus on reducing gasoline prices, as his administration and Republican
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S&P Global Energy: Strait of Hormuz disruption sends tanker rates to record highs, with the Middle East Gulf-Japan LR2 tanker benchmark freight rate reaching $107.72/ton on August 27.
S&P Global Energy reported that tanker freight rates have surged to record levels due to restricted traffic in the Strait of Hormuz and a tight supply of vessels. Since the outbreak of the US-Iran con
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Major UAE Oil Refinery Returns to Full Capacity After War Hit
Abu Dhabi National Oil Co. has restored to full capacity one of the world’s biggest oil refineries that was hit earlier in the regional war.
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Asian Refiners Turn to Argentina for Oil Supply as Iran War Disrupts Middle East Shipments
Asian crude oil importers, including China, Japan, and South Korea, are purchasing oil from Argentina to offset supply losses from the Middle East due to the ongoing Iran war. This shift allows them t
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Former Venezuelan President Maduro Releases First Photos Since US Detention
Maduro posted two photos on Sunday via social media X and Telegram, showing him in a grey tracksuit, making peace signs with both hands, and a caption stating "We remain steadfast." The photo timestam
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Trump administration's deal grants US-led venture access to 65 billion barrels of Venezuelan oil, raising questions about its political durability
The agreement could reshape the economic relationship between the two countries and potentially encourage US investment, helping to restore Venezuela’s energy sector. However, its long-term political
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Colombia's Gilinski Family and GeoPark Nearing Venezuela Oil Deal
Colombia's richest Gilinski family is nearing an oil deal in Venezuela with Bogota-based GeoPark Ltd., in which the family holds a 28% stake as the largest shareholder.
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Iran's President Pezeshkian: Iran Sold About 90 Million Barrels of Oil During Interim Deal Implementation
Iran's President Pezeshkian: Iran Sold About 90 Million Barrels of Oil During Interim Deal Implementation
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China's oil majors reveal the nation is becoming less reliant on imports
This trend could signal a bigger problem for global crude exporters than it does for Beijing.
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Axios Reports US Nears Deal for Stake in Venezuela Oil Fields
The Trump administration is in talks with Venezuela to take an ownership stake in the Latin American nation’s oil fields, Axios reported.
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Iran's Oil Minister says oil exports continue despite volume decline, citing security concerns for lack of details.
Iran's Oil Minister says oil exports continue despite volume decline, citing security concerns for lack of details.
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OPEC+'s share of global oil production fell to about 40% in July, down from over 48% before the conflict, indicating a shift in oil market dominance from supply to demand.
According to Reuters' calculations based on International Energy Agency (IEA) data, OPEC+'s share of global oil production has fallen from over 48% before the Middle East conflict at the end of Februa
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India's ONGC Targets Tenfold Oil Output Boost in Venezuela
India's state-owned Oil and Natural Gas Corporation (ONGC) plans to invest $200 million to revive production at the San Cristobal oilfield in Venezuela. The company aims to boost output from the curre
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Aker BP begins production at Skarv Satellites in Norwegian Sea, bringing 120 MBOE resources online a year ahead of schedule
Aker BP has commenced production from the Alve Nord, Idun Nord, and Ørn fields, which are part of the Skarv Satellite Project. These developments hold nearly 120 million barrels of oil equivalent (mbo
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Saudi Arabia shifts oil exports to Persian Gulf ports, bypassing Red Sea due to Houthi threats
Saudi Arabia is sharply increasing oil loadings from its Persian Gulf ports, with around 7 million barrels of shipping capacity loading at Ras Tanura on Tuesday. This move comes as Houthi threats disr
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Donald Trump said the Strait of Hormuz is operating normally, with 10 million barrels of oil flowing out yesterday.
Donald Trump said the Strait of Hormuz is operating normally, with 10 million barrels of oil flowing out yesterday.
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Satellite Image Shows Surge in Iraq’s Persian Gulf Oil Loadings
Oil loadings from Iraq’s export installations in the Persian Gulf jumped on Monday with seven tankers collecting the nation’s cargoes, signaling that regional flows might be climbing.
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Ukraine's double-barreled drone strikes snarl Russian oil flows from Novorossiysk and tumble crude processing
Ukraine's double-barreled drone strikes snarl Russian oil flows from Novorossiysk and tumble crude processing
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Vance says Iranian oil is still flowing
Vance says Iranian oil is still flowing
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U.S. Strategic Petroleum Reserve fell to 284.6 million barrels last week, a new low since 1982.
U.S. Strategic Petroleum Reserve (SPR) inventories fell to 284.6 million barrels last week, the lowest level since 1982.
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Satellite Snapshot Shows Increase in Saudis’ Gulf Oil Flows After Pipeline Shutdown
Satellite Snapshot Shows Increase in Saudis’ Gulf Oil Flows After Pipeline Shutdown
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Iran’s GDP shrank 10.1% in Q1 (March 21-June 20) amid US-Israel war, with oil and gas sector contracting 26.4%
Official data from the Statistical Center of Iran shows the country's gross domestic product (GDP) contracted by 10.1% year-on-year during the first quarter of the Persian calendar (March 21 to June 2
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The Strait of Hormuz blockade enters its seventh month, with Middle East oil export freight rates soaring to a record high of over $30 per barrel.
Middle Eastern oil producers are maintaining oil exports through a high-cost ship-to-ship (STS) transfer system, with benchmark freight rates for very large crude carriers (VLCCs) transporting Persian
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US Commander Says Strait of Hormuz Oil Shipments Hit Six-Month High, Citing Effective US Navy Escorts and Mine Clearance
Oil and liquefied natural gas shipments through the Strait of Hormuz reached a six-month high in the past two weeks, a U.S. regional commander said, indicating that U.S. Navy protection and mine clear
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World faces supertanker shortage, threatening long-haul oil flows as costs soar
The rising cost of global oil transportation is rendering some long-distance crude trades uneconomical, potentially disrupting flows at a time when fuel markets are exceptionally tight.
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Venezuela's government is sidelining a senior American oil executive from Chevron.
The veteran oil executive, previously responsible for Chevron's strategy in Venezuela amidst years of political turmoil, is currently being sidelined by the Venezuelan government.
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Argentina to file new legal complaints against oil firms near Falkland Islands, prepares tougher sanctions; Trump reconsiders US support for UK sovereignty
Argentina's government announced it will file new legal complaints against companies exploring for oil near the Falkland Islands (Malvinas), intensifying its campaign against businesses operating in t
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Venezuela's Oil Market Opening Is a "Smokescreen," Says Energy Figure Pickering
Energy investment banker Dan Pickering said a recent high-profile deal allowing foreign drillers to tap Venezuela's vast oil reserves failed to alleviate persistent market concerns about contract sanc
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IEA Slashes 2026 Global Oil Demand Forecast to 2.5M BPD Decline, Second-Worst in 60 Years, Citing Iran War
The International Energy Agency (IEA) in its September report revised its outlook by more than 3 million barrels per day in eight months. The agency now projects worldwide consumption will fall by 2.5
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Libya's National Oil Corporation (NOC) says output halted at Hamada and Al-Tahara fields due to pipeline closure.
Libya's National Oil Corporation (NOC) says output halted at Hamada and Al-Tahara fields due to pipeline closure.
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Schork Group analyst Stephen Schork said Iran is pressuring Saudi Arabia's oil supply from two fronts, east and west.
Stephen Schork, principal and editor at the Schork Group, explained that Iran is tightening its control over oil flows in the Middle East. He predicted that the U.S. Strategic Petroleum Reserve (SPR)
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Poland lost $230mn in a failed attempt to buy Venezuelan oil with crypto
The Financial Times reported that Poland's attempt to use digital currencies for an oil trade became one of its biggest scandals, resulting in a loss of $230 million.
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Al Jazeera analysis: Houthis' war economy generates billions, with illicit oil sales exceeding $2 billion annually
According to a July report by the Mokha Center for Strategic Studies, the Houthis' parallel economic system generates approximately $2.5 billion annually through taxes, customs, religious alms, and ot
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Saudi Arabia seeks to increase oil exports via the Strait of Hormuz after a key pipeline was attacked and shut down, according to people familiar with the matter.
Saudi Arabia seeks to increase oil exports via the Strait of Hormuz after a key pipeline was attacked and shut down, according to people familiar with the matter.
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Saudi Arabia's East-West oil pipeline could remain largely offline for 3-5 weeks following last week's drone attack, AP reports, adding further pressure to global oil supply.
Saudi Arabia's East-West oil pipeline could remain largely offline for 3-5 weeks following last week's drone attack, AP reports, adding further pressure to global oil supply. The pipeline can carry up
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FT: The Saudi relief valve is being closed, as Houthis’ Red Sea blockage remains largely an oil shock rather than a general threat to trade
FT: The Saudi relief valve is being closed, as Houthis’ Red Sea blockage remains largely an oil shock rather than a general threat to trade
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U.S. Energy Secretary Wright: Trend in 7-day rolling average of oil shipments through Hormuz is rising and will continue to rise
U.S. Energy Secretary Wright: Trend in 7-day rolling average of oil shipments through Hormuz is rising and will continue to rise
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If Democrats regain control of the House, the Trump administration's Venezuela oil deal will face a congressional investigation.
Wall Street Journal Insights, citing Politico, reported that the Trump administration recently brokered a deal involving 17 Venezuelan oil fields with proven reserves of up to 65 billion barrels. The
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Trump says U.S. may keep Iranian oil 'like Venezuela' as Hormuz talks stall, citing Venezuela deal revenue 'paid for war many times'
Former President Trump stated on Sunday that the U.S. could continue its campaign against Iran and take control of its oil, likening it to the deal with Venezuela. He added that U.S. revenue from the
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Guyana's President: Oil Revenue Surges Due to Iran Conflict
Guyana's President, Mohamed Irfaan Ali, stated that the country's oil revenues have sharply increased in recent months due to the Iran conflict reshaping global markets. He emphasized that he does not
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Ukrainian drone evades Russian helicopter fire to strike oil tanker
Ukraine has released footage showing a drone evading fire from a Russian helicopter before striking a sanctioned oil tanker in the Black Sea. This is part of a wider campaign targeting vessels Ukraine
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Saudi Pipeline Outage Threatens 4% Global Oil Supply Loss Unless Pumping Resumes Within Days
Traders and sources indicate that the outage of a Saudi pipeline could lead to a loss of 4% of global oil supply if pumping does not resume within days. Saudi Arabia reportedly has storage at Yanbu fo
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