OPEC+ will start long-delayed oil production hike
A group of oil producers known as OPEC+ will advance long-term increases in oil production. Eight countries that repeatedly slow production increases will move forward with them. These countries are Saudi Arabia, Russia, Iraq, the United Arab Emirates, Kuwait, Kazakhstan, Algeria and Oman. They cited “the basics of a healthy market and a positive market […]
Venezuela Rages as Trump Ends Biden-Era Oil Sanctions Waiver
Venezuela's socialist regime on Wednesday criticised President Donald Trump's decision to revoke the oil license granted to California-based Chevron, allowing it to operate in Venezuela, deeming it “harmful and inexplicable.” Former President Biden has confirmed Chevron license In November 2022, the company resumed oil production in Venezuela, allowing it to sell Venezuelan oil in the […]
State Dept Scraps Biden Admin’s Oil Relief For Socialist Dictator
The Trump administration announced late Wednesday that it had revoked its Biden administration's license for oil and gas development in Venezuela, providing much needed financial relief to the socialist regime of Venezuelan dictator Nicolas Maduro. Secretary of State Marco Rubio announcement He said in a post on Wednesday night to policy change X in his […]
Crude Oil Price Forecast: Bearish Correction Deepens as Sellers Maintain Control – FX Empire
14.6% down At today's lows, crude oil prices fell by $11.80 or 14.6% from the recent Swing High. In comparison, we placed it at the low end of the bear correction that occurred since the April 2024 peak. Since then, four modifications have been identified, ranging from 14.7% to 18.3% decrease. These measured movements indicate […]
Trump demands 50% of Ukraine’s revenues from critical minerals, oil and gas, ports and infrastructure: report
President Trump reportedly demanded half of Ukraine's revenue from natural resources, ports and infrastructure in reparations for the billions of dollars that the US contributed to Kiev's war efforts. Demand included in the draft contract for the “reconstruction of Ukraine” that reached Ukrainian President Voldy Mirzelensky's desk last week caused “surprise and panic” in Kiev. […]
Crude Oil price today: WTI price bullish, according to FXStreet data – FXStreet
Oil prices for West Texas Intermediate (WTI) were progressing on Monday, according to FXStreet data. WTI is trading at $70.75 per barrel, rising at $70.70 from its closing price on Friday. Brent oil exchange rates (Brent crude) are also rising, trading at $74.60 from the price of $74.54 posted Friday. WTI Oil FAQ WTI oil […]
Oil News: Futures at Critical Moving Averages Amid Shifting Trade Sentiment – FX Empire
Oil prices are poised to end the three-week decline Crude oil prices are on track to snap a three-week winning streak, supported by rising fuel demand and alleviating concerns about the world trade war. Both Brent Crude and U.S. West Texas Intermediate (WTI) achieved around 1% in a week as investors responded to a more […]
Trump picks oil industry vets for key posts in energy, environment
{beacon} Energy and the environment Energy and the environment Big story Trump chooses petroleum industry veterinarians for important posts in energy, environment President Trump has selected people with important ties with oil and other industries for key posts Environmental Protection Agency (EPA) and the Ministry of Home Affairs. ©Matthew Brown, Associated Press File Among […]
Trump names oil and gas advocate to lead agency that manages federal lands | Trump administration
Donald Trump has appointed a longtime representative of the oil and gas industry to oversee the agency that manages 4 billion acres of public lands concentrated in the Western states. Kathleen Sgamma, president of the Western Energy Alliance, Colorado-based petroleum industry and trade group, has been appointed Director of Land Management. A graduate of MIT, […]
Chevron slashing up to 8K jobs in major revamp of oil giant
Chevron plans to fire 15% to 20% of the global workforce by the end of 2026. This said Wednesday as it seeks to reduce costs and simplify its business. Chevron is caught up in a court battle with rival Exxon Mobil over the planned acquisition of oil producer Hess. This is the cornerstone of a […]