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The Latest Breaking News from Oil

Calls for Stricter Regulations on Biofuels Imports Intensify Amid Palm Oil Fraud Concerns

Around 80 per cent of waste palm oil used in the production of biofuels for vehicles is suspected to be falsely labelled.

International Business Times UK

New Mexico extends ban on oil and gas leasing around Chaco park, an area sacred to Native Americans

New oil and natural gas leasing will be prohibited on New Mexico state land surrounding Chaco Culture National Historical Park for the next 20 years

The Independent UK

Venezuela, Guyana Leaders Meet To 'De-escalate' Tensions

The presidents of Venezuela and Guyana met Thursday in the Caribbean for talks that analysts said could "de-escalate" tensions but would do little to resolve their countries' long-standing -- and now reheating -- territorial dispute.

International Business Times

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How COP's Fossil Fuel Taboo Was Finally Broken By The Emiratis

Hours after the applause and relief that the world had finally reached a landmark climate agreement in Dubai, US special envoy John Kerry admitted that he thought it might never happen.

International Business Times

Crude Prices Sharply Higher on Dollar Weakness and Economic Optimism

January WTI crude oil (CLF24 ) on Thursday closed up +2.11 (+3.04%), and Jan RBOB gasoline (RBF24 ) closed up +9.39 (+4.64%). Crude oil and gasoline prices Thursday posted 1-week highs and settled sharply higher. Thursday's slump in the dollar index (DXY00 ) to a 4-¼ month low is bullish...

Barchart

3 Dividend Energy Stocks to Scoop Up at a Discount

Oil prices recently hit six-month lows, pressured by weak economic forecasts and high U.S. supply. Now, income investors have a chance to buy high-quality dividend energy stocks at compelling valuations.

Barchart

Crude Prices Soar on Dollar Weakness and Economic Optimism

January WTI crude oil (CLF24) this morning is up +2.80 (+4.03%), and Jan RBOB gasoline (RBF24) is up +8.53 (+4.21%). Crude oil and gasoline prices this morning are sharply higher and posted 1-week highs. Today's slump in the dollar index to a 4-month low is bullish for energy prices. Also,...

Barchart

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Berkshire Hathaway Adds Nearly $600M In Occidental Petroleum Stock After Permian Basin Acquisition

Warren Buffett's conglomerate increased its ownership of Occidental this week, signaling approval of the Houston-based oil company's purchase of CrownRock.

International Business Times

2024 Oil Investors Grapple with Oversupply, Demand Woes

As 2024 dawns, oil investors juggle a two-headed puzzle; an overflow of black gold and demand jitters. Will they crack the code or brace for turbulence?

Top News

Five major outcomes from the latest UN climate summit

The latest UN climate summit, COP28, was always going to be controversial. It was held in a state whose economy is heavily dependent on oil and gas – the United Arab Emirates. The summit president, Sultan Al Jaber, remains head of the Abu Dhabi National Oil Company and recently declared…

The Conversation

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Fortune

Vladimir Putin’s war in Ukraine has cost Russia’s economy 5% in growth, U.S. Treasury says

Russia plans big defense spending with inflation running high. But Vladimir Putin thinks the economy is doing great as it grows and keeps unemployment low.

The Guardian - UK

Cop28’s winners and losers: from fossil fuel firms to future generations

Need to ‘transition away’ from fossil fuels may have been recognised, but for many that does not go far enough

The Hindu

Festival of lights, a display of antique oil lamps in Hyderabad

At this unique festival of lights at The Purple Turtles one can view antique oil lamps

International Business Times

Climate Deal Won't Have Immediate Impact On Gulf Oil

An agreement to "transition away" from fossil fuels may be a landmark moment but don't expect quick changes among the major producers of the Gulf, where the deal was hammered out.

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The Guardian - UK

Cop28 failed to halt fossil fuels’ deadly expansion plans – so what now?

The absence of a ‘phase-out’ let petrostates off the hook, but there are multiple other ways to end the era of coal, oil and gas

The Independent UK

How are Houthi attacks on ships in the Red Sea affecting global trade?

Yemen's Houthi rebels have been attacking ships in the Red Sea, one of the world's major trade arteries

International Business Times

OPEC+ Cartel's Grip On Oil Market Loosening: IEA

Slowing demand growth and rising US crude production will make it more difficult for OPEC+ to continue to prop up prices, the IEA said on Thursday.

The Independent UK

Guyana and Venezuela leaders to meet face-to-face as region pushes to defuse territorial dispute

The leaders of Guyana and Venezuela are scheduled to meet face-to-face as regional partners urgently seek to defuse a long-standing territorial dispute that has escalated after Venezuelans voted in a referendum to claim two-thirds of their small neighbor

USA Today Sports Media Group

Steelers EDGE T.J. Watt clears concussion protocol, will play vs. Colts

T.J. Watt has cleared concussion protocol and will take the field at Lucas Oil Stadium on Saturday.

The Guardian - AU

Cop28 agreement is progress – but there is still plenty of wriggle room for any country, including Australia

The government’s new stance is unusual for a large fossil-fuel-producing country, even if it’s not translated into policies

International Business Times

Far From Venezuela-Guyana Oil Flap, Mango Landing Just Wants Peace

Robinson Flores, a Venezuelan who has been living in Essequibo for years, has no time for politicians fighting over the disputed oil-rich region run by Guyana.

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