President Donald Trump’s plan to take control of Venezuela’s oil industry and ask U.S. companies to revitalize it after capturing President Nicolás Maduro in a raid is not likely to have a significant immediate impact on oil prices. Venezuela’s oil industry is in poor shape after years of neglect and international sanctions, so it could…
January WTI Crude Oil (CLF26) is down -0.91 (-1.51%), and January RBOB Gasoline (RBF26) is down -0.0279 (-1.52%) today. Crude oil and gasoline prices are falling today, with gasoline falling to a 1-and-a-half-week low. The strength of the dollar today is undermining energy prices. Furthermore, the current weakness in stock prices weighs on confidence in…
By Ahmad Ghaddar, Alex Lawler and Olesya Astakhova LONDON/MOSCOW, Nov 30 (Reuters) – OPEC+ countries agreed to maintain group-wide oil production quotas for 2026 at a meeting on Sunday, and also agreed on “a mechanism to assess members’ maximum oil production capacity,” OPEC said in a statement. Eight OPEC+ countries, which will hold a separate…
The highly focused development of the US shale oil and gas sectors since the early 2010s transformed it from one of the world’s largest importers of both to one of its largest exporters of both. But it did much more than that: it reversed the balance of energy power in the world from where it…
December WTI Crude Oil (CLZ25) closed up +0.33 (+0.55%) on Wednesday and December RBOB Gasoline (RBZ25) closed up +0.0273 (+1.47%). Crude oil prices rose on Wednesday amid an outlook for tighter global oil supplies. Crude oil prices rose on expectations that President Trump will comply and apply new oil sanctions on Russia to pressure Russian…
NEW YORK (Reuters) – U.S. oil production is expected to hit a higher record this year than previously expected, the Energy Information Administration said on Tuesday, even as the agency warned that an oil glut will weigh on prices in the coming months. The Department of Energy’s statistical arm expects U.S. oil production to average…
November WTI Crude Otr (Clx25) on Thursday closed -1.30 (-2.10%), and November Rbob Gasoline (RBX25) closed -0.0349 (-1.85%). Oil prices and crude oil were sold on Thursday, with the crude publishing a low closer 4 month content and gasoline registering a minimum of 4.5 years. Crude prices are being withdrawn as OPEC+ increases its raw…
