Crude oil inventories in the US rose by 8.664 million barrels in the week ended January 31, 2025, the most in nearly a year and above market expectations of a 2.6 million build, data from the EIA ...

Meanwhile, Brent crude oil has been declining for five consecutive days. Since Jan. 24, its price on the London International Exchange (ICE Futures) has dropped from $78.85 to $75.42 per barrel as of ...

Standard Oil founder Rockefeller was one of the greatest Wall Street magnates Andrew Beattie was part of the original editorial team at Investopedia and has spent twenty years writing on a diverse ...

U.S. benchmark West Texas Intermediate (WTI) crude oil prices topped $80 per barrel on Jan. 15 after closing out 2024 closer to $70 per barrel. Geopolitical policy is driving higher prices.

PORTLAND, Ore. (KTVZ) – The price of crude oil jumped to $80 a barrel last week, and that’s pushing pump prices higher in 45 states, including Oregon, AAA Oregon/Idaho reported Tuesday.

Asia has been a key receiving hub of Russian high-sulfur fuel oil barrels, especially after Russia's invasion of Ukraine in 2022 sparked sanctions from the West. More recently, the U.S. imposed wider ...

has made a new oil discovery in central Iraq, with potential reserves of 2 billion barrels, multiple media reports have claimed. MOC told local media that a "significant oil reservoir" has been ...

Saudi Aramco, the world’s largest oil exporter, expects global oil demand to grow by a steady 1.3 million barrels per day (bpd) this year compared to 2024, the chief executive of the biggest oil ...

noting that U.S. oil production is at record levels and the OPEC+ producer group still has some 5.86 million barrels per day of output curtailed. "What there is a shortage of is demand," Yawger said.

The oil well’s early testing revealed a daily output rate of up to 5,000 barrels, according to Hassan. The new oil discovery is strategically significant as Iraq is ranked fifth globally in ...

Guyana’s oil production is on track for one million barrels per day by 2027. Further, gas resources will be utilised as planned, by the Gas-to-Energy (GtE) project in Wales with government ...

Libya is setting its sights on boosting oil production to 2 million barrels per day (bpd) within the next two to three years, with brownfield development and local investment identified as critical ...