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Oil
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U.S. official: Venezuela gave Cuba $40 billion-$64 billion worth of oil for free
U.S. official: Venezuela gave Cuba $40 billion-$64 billion worth of oil for free
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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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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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Yemen's Houthi rebels have taken full control of the Bab el-Mandeb Strait region. Saudi Arabia's East-West oil pipeline was preventatively shut down after an attack. On the 10th, the number of vessels passing through the Bab el-Mandeb Strait plummeted to six.
Yemen's Houthi rebels have taken full control of the Bab el-Mandeb Strait region, leading to the precautionary shutdown of Saudi Arabia's East-West oil pipeline after an attack. As a result, the numbe
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Iran's Oil Exports Remain Severely Constrained Nearly Two Months into Renewed US Naval Blockade
Iran's Oil Exports Remain Severely Constrained Nearly Two Months into Renewed US Naval Blockade
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IEA Warns Oil Demand May Have to Fall Further as Iran War Drags
The International Energy Agency (IEA) cut its forecast for oil demand, stating that consumption may need to decline further in the coming months as the Iran war continues and consumers are forced to a
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China Dips Back Into Oil Market, Keen to Shore Up Inventory as Hormuz Hostilities Stoking Prices
Analysts say China is returning to the oil market, eager to replenish its inventory after a significant reduction had cushioned the impact of the war, with renewed hostilities in the Strait of Hormuz
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The Pentagon is taking a stake in a private Venezuelan oil company in what President Trump called “the biggest oil deal in world history.”
The Pentagon is taking a stake in a private Venezuelan oil company in what President Trump called “the biggest oil deal in world history.”
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OPEC Further Cuts 2026 Oil Demand Growth Forecast, Raises 2027 Outlook Amid Oil Prices Surpassing $100
The Organization of the Petroleum Exporting Countries (OPEC) has once again cut its forecast for global oil demand growth for 2026 to 380,000 barrels a day, down from a previous estimate of 580,000 ba
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TotalEnergies to Bring New Angola Discovery Online in Just Three Months
TotalEnergies on Thursday announced its Acacia-5 discovery in Block 17, made in June 2026, is expected to achieve first oil in just three months by utilizing available capacity on the nearby Pazflor F
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Russia's Crude Output Fell in August as Ukraine Steps Up Strikes on Oil Assets
Russia's production of crude oil shrank in August, lagging further behind its OPEC+ quota, after Ukraine stepped up attacks on the nation's oil assets.
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Saudi Arabia cuts oil output to this year's lowest level due to Houthi threats
The world's biggest oil exporter was forced to cut production after Houthi rebels announced a 'maritime embargo' against the kingdom’s exports in July.
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Iraq Tenders for Two Supertankers to Secure Oil Exports via Hormuz Amid Threats
Iraq is holding a tender to hire two or more oil supertankers to perform transits through the Strait of Hormuz. This move aims to ensure the country’s crude exports while the vital waterway remains un
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ExxonMobil, ANPG and Partners Announce 20th Oil Discovery in Angola's Deepwater Block 15
ExxonMobil, Angola's National Oil, Gas and Biofuels Agency (ANPG) and their Block 15 partners confirmed a new oil discovery at the Vicango Este-01 well on Wednesday. This marks the deepwater block's 2
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Indian Refineries Operate at 108% Capacity to Meet Surging Diesel Demand and Tight Fuel Markets Due to Middle East Crisis
An executive at Mangalore Refinery and Petrochemicals Limited (MRPL) stated on Wednesday at the APPEC oil conference in Singapore that Indian refineries have been operating at 105% to 108% of their ca
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Sinopec research arm expects China's oil demand to shrink by 600,000 barrels a day in 2026 due to US-Iran war and EV adoption
Sinopec research arm expects China's oil demand to shrink by 600,000 barrels a day in 2026 due to US-Iran war and EV adoption
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Escalating US-Iran conflict heightens environmental risks in the Strait of Hormuz; on September 8, US forces attacked five Iranian oil tankers.
Al Jazeera reported that the United States and Iran have been mutually attacking oil tankers and vessels in and around the Strait of Hormuz, raising concerns about a catastrophic oil spill in the Gulf
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Iraq Seeks Significant Output Quota Increase During OPEC+ Audit
Iraq is seeking a significant increase in its oil production quota as OPEC and its allies conduct a review of members’ capacities aimed at determining how much they can pump next year, according to pe
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