The Latest Breaking News from crude oil

Uganda is commissioning the first of its four planned oil drilling rigs and starts drilling the first production well this Tuesday – a key milestone for the country, as Kampala races to meet its target of first crude oil output in 2025.

U.S. Treasury Secretary Janet Yellen expressed confidence that restrictions on Russian sales of crude oil can be expanded to refined petroleum products in February, while acknowledging that the task will be more complicated.

Given the inflationary environment, the Fed’s committed efforts in bringing inflation down to its 2% target will likely keep the market volatile in the near term. Therefore, Overseas Shipholding Group (OSG) and Adams Resources & Energy (AE), which have maintained strong momentum despite market fluctuations, could be ideal buys now.…

With the sustained energy demand and an anticipated surge in oil prices, energy stocks will likely outperform the broader market again this year. Therefore, it seems wise to invest in fundamentally strong energy stocks Marathon Petroleum (MPC), Valero Energy (VLO), and Adams Resources & Energy (AE) to garner solid returns.…

Bulgaria is looking to revive a trans-Balkan oil pipeline project to secure non-Russian crude oil supplies for its only oil refinery on the Black Sea, controlled by Russia's Lukoil, President Rumen Radev said on Tuesday.

Russia expects Western sanctions to have a significant impact on its oil products exports and therefore its production, but that will likely leave more crude oil to sell, a senior Russian source with detailed knowledge of the outlook told Reuters.

Vladimir Putin is starting to see the main financing mechanism for his war in Ukraine dry up.

The Group of Seven (G7) coalition will seek to set two price caps on Russian refined products in February, one for products trading at a premium to crude oil and the other for those trading at a discount, a G7 official said.

The Environmental Protection Agency announced Monday that it has reached an agreement with a pipeline operator to clean up a spill that dumped 14,000 bathtubs’ worth of crude oil into a rural Kansas creek

While a slowdown looks inevitable, the U.S. economy might narrowly avoid a recession this year. Moreover, experts believe the stock market can recover in 2023. Therefore, investors might consider buying quality momentum stocks Schlumberger (SLB), Overseas Shipholding (OSG), Epsilon Energy (EPSN), and Adams Resources & Energy (AE) now. Keep reading….

Iraq's oil revenues in 2022 exceeded $115 billion, according to preliminary figures announced by the oil ministry on Tuesday -- a four-year high following a collapse in prices during the coronavirus pandemic. Oil production accounts for some 90 percent of Baghdad's income, and the country is the second largest producer…