Oil India targets 4 million metric tonnes of crude oil production

State-owned Oil India Limited (OIL) is targeting crude oil production of around 4 million metric tonnes this year,...

Chevron to invest over $7 bn in Venezuela, targets twofold rise i

Chevron Corporation will invest more than USD 7 billion in its Venezuelan joint ventures over the next five years...

US military moves 15 mn barrels through Hormuz amid Iran tensions

More than 15 million barrels of oil and petroleum products were moved through the Strait of Hormuz with help from...

US opens secret oil shipping corridor amid Iran stalemate: Report

US military forces have secretly established a protected maritime corridor through the Strait of Hormuz, enabling...

OPEC+ approves 188,000 barrels/day production increase for Sep

OPEC+ has approved an increase in oil production of around 188,000 barrels per day (bpd) for September 2026, as the...

China's EV boom cuts fossil fuel use; oil displaced rises 42% in

China's rapid adoption of electric vehicles is accelerating the country's shift away from fossil fuels, with oil...

US commercial crude oil inventories rise by 2 million barrels: EI

Commercial crude oil inventories increased by 2.0 million barrels in the United States for the week ending July 17,...

US rebutes Iran's claim of having control on Strait of Hormuz

The US Central Command on Friday rebutted claims by Iran that transit through the Strait of Hormuz is restricted...

OPEC+ to raise August oil production by 188,000 bpd, reiterates c

Seven key OPEC+ producers have agreed to increase oil production by a combined 188,000 barrels per day (bpd) in...

US refinery capacity dips in 2025, down by 1% YoY: US Energy Admi

US refining capacity decreased during 2025 to 18.2 million barrels per calendar day on January 1, 2026. This...

US conducts more strikes against Iran

After yesterday's US strikes in response to the Iranian attack on M/V Ever Lovely, Iran was given a chance to...

US commercial crude oil inventories fall by 6.1 mn barrels in Jun

The EIA said commercial crude oil inventories, excluding the Strategic Petroleum Reserve, decreased by 6.1 million...