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The Latest Breaking News from Oil

Venezuela To Vote On Oil-rich Region Controlled By Guyana

A decades-old dispute over the oil-rich Essequibo territory reaches a new, potentially escalatory chapter on Sunday as Venezuela holds a referendum regarding the Guyana-controlled region.

Latin Times

Could COP28 help UAE become a post-oil economy? | Explained

The United Arab Emirates (UAE), the world’s seventh largest oil producer, will host the 28th UN Climate Change Summit (COP28) in Dubai from November 30 to December 12

The Hindu

3 Hot Energy Stocks Flashing 'Buy' Signals

The energy market, witnessing oil demand surges and encouraging industry forecasts, suggests a positive trajectory for oil prices – providing an impetus for operators to heighten oil and gas production. Given this backdrop, quality energy stocks Newpark Resources (NR), Permianville Royalty Trust (PVL), and Superior Drilling Products (SDPI) could be…

StockNews.com

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How problematic is mineral mining for electric cars?

In part two of our series exploring myths surrounding EVs, we weigh up the issues of resource extraction

The Guardian - UK

Venezuela To Vote On Oil-Rich Region Controlled By Guyana

"The Venezuelan sun rises in Essequibo," "Essequibo belongs to Guyana" — the opposing camps' slogans say it all.

International Business Times

COP28 Puts Spotlight On State Oil Giants

Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry.

International Business Times

As climate crisis reaches pivotal moment, what on earth are world leaders waiting for?

2023 is officially the hottest year on record. World leaders gathering today in Dubai for the UN Climate Change Conference already know what they must do to reverse global warming but, as King Charles is set to warn them, this must be a ‘critical turning point’. Senior climate correspondent Louise…

The Independent UK

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OPEC+ Invites Brazil to Join Oil Producers Alliance

Brazil is set to become the fourth Latin American country to become part of the cartel after Mexico and Venezuela. Ecuador withdrew in 2020

Latin Times

OPEC+ announces additional output cuts in bid to prop up volatile oil prices

Following a virtual meeting, OPEC+ members have announced additional oil supply cuts, with de facto leader Saudi Arabia saying it would extend an existing cut of one million barrels per day through to March next year. Russia pledged to slash oil exports by 500,000 barrels a day, up from 300,000,…

France 24

Crude Prices Fall on Market Doubts About OPEC+ Crude Production Cuts

January WTI crude oil (CLF24 ) on Thursday closed down -1.90 (-2.44%), and Jan RBOB gasoline (RBF24 ) closed down -0.0715 (-3.18%). Crude oil and gasoline prices on Thursday gave up early gains and sold off sharply after OPEC+ said it would cut its crude production level by -1.0 million...

Barchart

Impossible to quit? COP28 showdown over phase out of fossil fuels

It's off the charts. All evidence points to an acceleration of the planet’s record-breaking heat. So the blame game begins, as the COP 28 summit opens in the oil and gas-rich United Arab Emirates, between those who provide fossil fuels, those who consume them and those in the front lines…

France 24

Marathon Oil (MRO) vs. NOW (DNOW) - Evaluating Energy Stocks for Q4 Potential

With the energy market buzzing from robust crude demand and optimistic industry projections alongside OPEC+ interventions, the trajectory for Brent crude prices appears upward. In this scenario, which energy stalwart, Marathon Oil (MRO) or NOW Inc. (DNOW), is better positioned for growth in the fourth quarter? Let's find out.

StockNews.com

Crude Slumps as Announced OPEC+ Crude Production Cuts Lack Details

January WTI crude oil (CLF24 ) this morning is down -2.31 (-2.97%), and Jan RBOB gasoline (RBF24 ) is down -0.0727 (-3.23%). Crude oil and gasoline prices this morning gave up early gains and sold off sharply after OPEC+ said it would cut its crude production level by -1.0 million...

Barchart

Brazil To Join OPEC+ In January: Report

An OPEC+ delegate told Reuters about Brazil's plans to join the international oil cartel. The government didn't confirm the report.

International Business Times

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The Texas Tribune

A Texas politician wants to provide emergency services to constituents who don’t have them. Will they let him?

In unincorporated West Odessa, residents relish their freedom. And they also go without basic services. Ector County Judge Dustin Fawcett, a young Republican with Ronald Reagan good looks and politics, wants to change that.

Trichologist reveals which hair oils are good or bad for your scalp

Do you use any of these oils?

Barchart

Will OPEC+ Deepen its Crude Oil Production Cuts?

OPEC+ members are meeting virtually today to discuss crude production levels. Several delegates have said the group is discussing additional output cuts of about 1 million bpd. The monthly meeting of OPEC+ was pushed back to today from last Sunday as a rift developed among OPEC+ members regarding crude production...

International Business Times

OPEC+ Agrees In Principle To 2 Million Barrel Production Cut For Early 2024

OPEC+ will reportedly expand existing production cuts; oil prices are up as a major climate summit gets underway.

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Evening Standard

Cop 28: World’s ‘most important’ climate summit begins - Tech & Science Daily podcast

World leaders have gathered in Dubai for COP28 but can a climate summit in an oil state facilitate change?

Radio France Internationale

Cop28 opens with historic launch of loss and damage fund

Nearly 200 nations agreed Thursday to launch a fund to support countries hit by global warming, in a "historic" moment at the start of UN climate talks in the oil-rich UAE.

International Business Times

Hundreds Of New Oil And Gas Projects Approved Despite Climate Crisis

More than 400 oil and gas projects were approved globally in the last two years despite calls to abandon all new hydrocarbon development, new figures showed as the UN COP28 climate talks opened Thursday.

Al Jazeera

Loss and damage fund approved at UN’s COP28 climate summit in Dubai

UAE’s Sultan Al Jaber calls to ‘proactively engage’ fossil fuel companies as part of the solution to climate challenges.

WEKU

Global climate talks begin in Dubai, with an oil executive in charge

This year's United Nations climate summit is being held in the petroleum-dependent United Arab Emirates. Delegates began by approving a landmark fund to pay for climate losses.

The Conversation

COP28 begins: 4 issues that will determine if the UN climate summit is a success, from methane to money

The United Nations climate conference is underway in Dubai, and representatives from around the world will be confronting an extraordinary array of challenges over its two weeks. They carry with them some long-held – and new – grievances, and strong expectations.

Al Jazeera

COP28 Dubai: What were the gains of past five UN climate summits?

As COP28 commences in Dubai, here is a look at the major outcomes of the UN’s last five COPs and where they stand.

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