Oil and Gas
U.S. crude oil falls 4% after Trump-China trade flare-up threatens to slow global growth
Oil prices were little changed in early Asian trade on Friday after falling more than 1% in the previous session. Chunyip Wong | E+ | Getty Images U.S. crude oil fell 4% on Friday, after President Donald Trump threatened China with higher tariffs in retaliation for Beijing imposing stricter export controls rare earth minerals. U.S. […]
Read More
Iraq signs deal with Exxon to help develop large oilfield
A worker checks the valve of an oil pipe at Nahr Bin Umar oil field, north of Basra, Iraq. Essam Al-Sudani | Reuters Exxon Mobil signed an agreement with Iraq on Wednesday to help it develop its giant Majnoon oilfield and expand oil exports, government officials and sources said, marking the U.S. major’s return to the […]
Read More
OPEC+ raises oil production again with modest a hike from November
Oil pumpjacks operate in Los Angeles, California, July 31, 2023. Mario Tama | Getty Images OPEC+ will raise oil output from November by 137,000 barrels per day (bpd), it said on Sunday, opting for the same fairly modest monthly increase as in October amid persistent worries over a looming supply glut. The group comprising the […]
Read More
Massive fire breaks out at Chevron oil refinery in California
An aerial view of Chevron crews attempting to extinguish a large fire and explosion that occurred at Chevron Refinery in El Segundo Thursday, Oct. 2, 2025. Allen J. Schaben | Los Angeles Times | Getty Images A huge fire broke out on Thursday night at a Chevron oil refinery in California, one of the largest […]
Read More
Oil companies slash jobs by the thousands as prices fall, tariffs rise and industry consolidates
Shotbydave | E+ | Getty Images U.S. oil companies are cutting jobs by the thousands as they respond to falling crude prices, higher tariffs, and a wave consolidation in the industry. President Donald Trump promised boom times for oil and gas when he took office in January. Instead, the industry has shed 4,000 positions through […]
Read More
Oil giant BP quietly steps out of the takeover spotlight
British oil and gasoline company BP (British Petroleum) signage is being pictured in Warsaw, Poland, on July 29, 2024. Nurphoto | Nurphoto | Getty Images Five months ago, British energy major BP was firmly in the spotlight as a prime takeover candidate. Now, not so much. Shares of the London-listed oil giant have climbed more […]
Read More
Ukrainian drones stage new attack on major Russian petrochemical complex
Ukrainian Army soldiers prepare LELEKA 100 military intelligence drone for flight in the direction of Chasiv Yar, Donetsk Oblast in Ukraine, June 10, 2024. Jose Colon | Anadolu | Getty Images Ukrainian drones attacked one of Russia’s largest petrochemical complexes, Salavat in the southern Bashkortostan region, for the second time in less than a week, […]
Read More
Saudi defense pact with Pakistan unlikely to disrupt oil flows to India, source says
An oil tanker delivers at the oil terminal in the harbor on Oct. 10, 2016, in Kochi, India. Kaveh Kazemi | Getty Images News | Getty Images Saudi Arabia’s new mutual defense pact with Pakistan is unlikely to alter Riyadh’s energy relationship with key consumer India, a source told CNBC. Asked whether India would continue […]
Read More
Solar executives warn that Trump attack on renewables will lead to power crunch that spikes electricity prices
Witthaya Prasongsin | Moment | Getty Images President Donald Trump’s attack on solar and wind projects threatens to raise energy prices for consumers and undermine a stretched electric grid that’s already straining to meet rapidly growing demand, renewable energy executives warn. Trump has long said wind power turbines are unattractive and endanger birds, and that […]
Read More
India, Russia vow to deepen trade ties, defying Trump’s tariff threats over oil
TOPSHOT – Russia’s Foreign Minister Sergey Lavrov (R) and India’s Foreign Minister Subrahmanyam Jaishankar enter a hall for their talks at Zinaida Morozova’s Mansion in Moscow on August 21, 2025. Alexander Zemlianichenko | Afp | Getty Images India and Russia agreed Thursday to expand bilateral trade ties, signaling that U.S. tariff pressure on New Delhi […]
Read More