oil

US Plans to Buy Up to 4.5 Million Barrels of Oil for Strategic Petroleum Reserve

US Plans to Buy Up to 4.5 Million Barrels of Oil for Strategic Petroleum Reserve

The US Energy Department plans to buy up to 4.5 million barrels of oil to replenish the Strategic Petroleum Reserve (SPR).

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Chinese Report Claims Fuel Trucks Used to Transport Cooking Oil

Chinese Report Claims Fuel Trucks Used to Transport Cooking Oil

Chinese authorities are reviewing an investigative report which alleged the practice of using fuel tankers to carry cooking oil, rocking the country into a major food safety scandal.

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Texas Energy Industry Evaluates Hurricane Beryl's Damages to Shipping Ports, Production

Texas Energy Industry Evaluates Hurricane Beryl's Damages to Shipping Ports, Oil Production Sector

The Texas energy industry is assessing the damage from Hurricane Beryl after the storm struck the US Gulf Coast.

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US-SOCIETY-ENERGY

Oil Prices Rise Above Expectations Following Economic Recovery and Drop in US Crude Stockpiles

Oil prices surged on Thursday, June 20, driven by a rally in equity markets and a decline in US crude stockpiles, reaching $75 per barrel for Brent crude and $72 per barrel for West Texas Intermediate.

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Two Texas Men Get More Than 3 Years in Prison for Conspiracy to Sell Iranian Oil to China

Two Texan Men Get More Than 3 Years in Prison for Conspiracy to Sell Iranian Oil to China

Two Texas men were sentenced to 45 months in prison for trying to sell Iranian oil to a refinery in China in violation of US sanctions.

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US-ECONOMY-OIL-MERGER

Oil Prices Expected to Hit $86 in Q3 Due to Increased Summer Fuel Demand

Oil prices surged as Goldman Sachs predicted a supply deficit due to summer demand, aiming for Brent crude to hit $86 per barrel despite OPEC+ production increase.

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NZ Plans to Revoke Previous Government’s Oil Drilling Ban

New Zealand Plans to Revoke Previous Government’s Oil Drilling Ban

The New Zealand government of PM Christopher Luxzon announced that it would revoke a ban on drilling for oil and gas passed by the previous government of Jacinda Ardern and Chris Hipkins before they were voted out of power.

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SAUDI-ARAMCO-ENERGY

Saudi Aramco Stock Rises Post $11.2 Billion Secondary Offering

Saudi oil giant Aramco’s shares rose after a major $11.2 billion stock sale amid strong demand, aligning with Saudi Arabia's Vision 2030.

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US House Lawmakers Ask Justice Department to Launch Antitrust Probe on OPEC, Oil Companies

US House Lawmakers Ask Justice Department to Launch Antitrust Probe on OPEC, Oil Companies

Democratic US House lawmakers are urging the Justice Department to investigate possible antitrust violations among US oil producers and OPEC.

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OPEC+ Prolongs Most of Its Deep Oil Output Cuts Until 2025

OPEC+ Prolongs Most of Its Deep Oil Output Cuts Until 2025

OPEC+ has decided to prolong most of its extensive oil production cuts until 2025.

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SAUDI-DAILY LIFE

Aramco's $13 Billion Share Sale Attracts Strong Investor Interest

Aramco's share sale drew overwhelming demand within hours, potentially raising up to $13.1 billion, attracting global investor interest in Saudi assets.

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US Crude Oil Refiners to Boost Fuel Output Beyond 90% Capacity for Summer

US Crude Oil Refiners to Boost Fuel Output Beyond 90% Capacity for Summer

US crude oil refiners are reportedly preparing to increase their operations above 90% capacity following the completion of planned maintenance.

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Views Of Tankers & Refineries As Oil Trades Near 12-Year Low

Ex-Citgo Executives Imprisoned in Venezuela File $400 Million Lawsuit vs. Oil Firm

Alirio and Jose Luis Zambrano, two of the six Citgo executives who were trapped and imprisoned in Venezuela, have accused their former company of abandoning them in a lawsuit filed in Houston.

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YEMEN-CONFLICT-ENVIRONMENT-OIL-SAFER

Oil Market on Edge Following Second Ship Attack in Red Sea

Oil prices are experiencing fluctuations as traders wait for OPEC+'s decision due to another second ship attack in the Red Sea.

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Iran Approves Plan to Boost Oil Output to 4 Million Barrels per Day: Report

Iran Approves Plan to Boost Oil Output to 4 Million Barrels Per Day: Report

Iran plans to boost its oil production to four million barrels per day.

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