The Latest Breaking News from Oil

Reasons to worry about a recession are piling up: the Federal Reserve's inflation fight, a slowing housing market, warnings from retailers and venture capitalists and a smattering of layoff announcements. But one part of the labor market is sending a decidedly different signal. Goods-producing employment, which includes industries like manufacturing,…

US crude oil futures traded lower this morning on Friday. Investors, meanwhile, focused on some notable insider trades. When insiders purchase or sell shares, it indicates their confidence or concern around the company's prospects. Investors and traders interested in penny stocks can consider this a factor in their overall investment…

The White House praised a major Saudi role in controlling oil markets, through a greater increase in the production of the OPEC+ alliance during July and August than previously announced. “We welcome the important decision from OPEC+ today to increase supply in July and August based on new market conditions,”…

India depends on imports to meet 85% of its crude oil needs, and its ageing oil wells are a major hiccup in the country’s ambition to reduce import reliance

Saudi Minister of Energy Prince Abdulaziz bin Salman and Iraqi Minister of Oil Ihsan Ismail discussed on Thursday connecting their electricity grids. The ministers explored issues of common interest in various energy fields. The meeting discussed ways to strengthen cooperation in the energy fields in order achieve shared leadership through…

The European Union has formally approved an embargo on Russian oil and other sanctions targeting major banks and broadcasters over Moscow’s war on Ukraine

Oil prices rose Thursday despite an agreement by major crude producers to boost output more than expected, while US stocks rallied ahead of closely-watched employment data seen as a key input to the inflation debate. In Vienna, the OPEC+ group decided to add 648,000 barrels per day to the market…

Ukraine invasion was met with sanctions, expansion of NATO, and a bifurcation of the global financial and trade system.

Russian forces advanced deep into the ruined eastern factory city of Sievierodonetsk, but Ukrainian troops were still holding out on Friday as Russia's assault on its neighbour entered its 100th day. Ukraine's defense minister said his troops were already training in Europe to operate new, advanced missile systems pledged this…

India on Thursday bluntly stated that the issue of purchase of crude oil from Russia is “not an India related issue at all” as its approach is guided by the nation’s energy security requirements, similar to that of "many other regions and countries" - pointing to the West. Read more…

NEW DELHI: Economic Offences Wing (EOW) of Delhi Police has arrested a man for duping more than 1,000 people on the pretext of making investment in a Russian oil company.