Oil and Gas
The EU wants to end all Russian gas imports. Moscow’s friends in the bloc say it’s a ‘serious mistake’
Russian President Vladimir Putin and Hungarian Prime Minister Viktor Orban during their joint press conference at the Kremlin on July 5, 2024. Contributor | Getty Images News | Getty Images Russia’s allies in Eastern Europe say Brussels plans to end all Russian gas and energy imports in the coming years are tantamount to “economic suicide” […]
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U.S. crude oil prices fall more than 4% after OPEC+ agrees to surge production in June
Logo of the Organization of the Petroleum Exporting Countries (OPEC) Andrey Rudakov | Bloomberg | Getty Images U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month. U.S. crude was down $2.49, or 4.27%, to $55.80 a barrel shortly after trading opened. Global benchmark Brent […]
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OPEC+ agrees another accelerated oil output hike for June, sources say
FILE PHOTO: People walk past an installation depicting barrel of oil with the logo of Organization of the Petroleum Exporting Countries (OPEC) during the COP29 United Nations climate change conference in Baku, Azerbaijan November 19, 2024. Maxim Shemetov | Reuters Eight OPEC+ countries meeting on Saturday have agreed to a further accelerated oil output hike […]
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OPEC+ to meet on Saturday to set June output policy: Reuters
Logo of the Organization of the Petroleum Exporting Countries (OPEC) Andrey Rudakov | Bloomberg | Getty Images Eight OPEC+ countries will meet on Saturday to decide whether to agree a further accelerated oil output hike for June or make a smaller increase as originally planned, two sources with knowledge of the matter told Reuters on […]
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Chevron to slow pace of share buybacks as Trump tariffs and OPEC+ production weigh on oil prices
Chevron will slow the pace of its share buybacks, as falling crude prices hit the oil major’s first-quarter profit. U.S. crude oil prices have dropped about 18% this year as President Donald Trump’s tariffs are expected to weigh on demand at the same time OPEC+ plans to pump more supply into the market. The oil major […]
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Oil major Shell launches $3.5 billion share buyback after first-quarter profit beat
The Shell gas station logo is displayed on February 13, 2025 in Austin, Texas. Brandon Bell | Getty Images News | Getty Images British oil giant Shell on Friday reported a sharp fall in first-quarter profit, following a period of weaker crude prices. Shell reported adjusted earnings of $5.58 billion for the first three months […]
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Trump says any country that buys oil from Iran will not be allowed to do business with U.S.
President Donald Trump said Thursday any country or person that buys oil or petrochemicals from Iran will not be allowed to do any business with the U.S. U.S. crude oil futures rose $1.03, or 1.77%, to close at $59.24 per barrel, while global benchmark Brent gained $1.07, or 1.75%, to settle at $62.13. Iran is […]
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China waives tariffs on U.S. ethane imports, Reuters reports
Gantry cranes stand near a cargo ship at Yangshan Port outside of Shanghai, China, on Feb. 7, 2025. Go Nakamura | Reuters China has waived the 125% tariff on ethane imports from the United States imposed earlier this month, two sources with knowledge of the matter said Tuesday, among a group of products that have been granted […]
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Oil industry that Trump wants to ‘drill, baby, drill’ has taken a beating since he took office
An operator for Baker Hughes conducts a wireline survey on a Chesapeake Energy natural gas rig in the North Texas Barnett Shale near Burleson, Texas. Matt Nager | Getty Images President Donald Trump wants the oil and gas industry to “drill, baby, drill” in pursuit of his energy dominance agenda, but the companies involved in […]
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Oil giant BP posts 49% drop in first-quarter profit on weaker crude prices
British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024. Nurphoto | Nurphoto | Getty Images British oil giant BP on Tuesday posted slightly weaker-than-expected first-quarter net profit, following a recent strategic reset and a slump in crude prices. The beleaguered oil and gas major posted […]
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