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The Latest Breaking News from Oil

North Dakota oil production takes a big drop

Back-to-back blizzards in April led to one of the steepest ever monthly declines in North Dakota oil production.

Tribune News Service

Oil companies start night shifts at depots to keep petrol pumps full

NEW DELHI: The oil ministry on Wednesday said state-run fuel retailers have introduced night shifts at fuel depots for loading more tankers to speed up stock replenishment at petrol pumps, even as industry data showed petrol consumption spiking 54% and diesel nearly 48% in the first fortnight of June compared…

The Times of India

Artists criticise NT festival Santos links

Almost 200 artists have written an open letter demanding the Northern Territory's top arts festival reject oil and gas producer Santos as a major sponsor.

AAP

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Stock Wars: Chevron Vs. ExxonMobil

Benzinga’s weekly Stock Wars matches up two leaders in a major industry sector with the goal of determining which company is the better investment.

Benzinga

Lebanon Extends Licensing Deadline for Gas Exploration

Lebanon’s caretaker energy minister on Wednesday extended the licensing deadline for oil and gas companies to explore in the country’s territorial waters until mid-December, to give more firms the chance to bid, state-run news agency reported. The decision by the minister, Walid Fayyad, to extended the deadline of the second…

Asharq Al-Awsat

Russia says West, unlike China, 'shoot themselves in the head' over Ukraine

Russia said on Wednesday that the West had "shot itself in the head" by trying to limit energy imports from the oil and gas fields of Siberia due to the Ukraine conflict, in sharp contrast to China which has increased deliveries of energy.

Reuters

Russia rakes in nearly $20bn from oil exports in May

Rise in revenues is setback for west’s efforts to hit Russian economy in wake of Ukraine invasion

The Guardian - UK

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With Oil Prices Surging, Is Nordic American Tankers a Buy?

Nordic American Tankers (NAT) anticipates increased demand for their Suezmax tankers in the coming days since OPEC and Saudi Arabia decided to expand oil output by more than the previously projected 400,000 barrels. However, considering its lack of profitability and low-profit margins, would it be worth buying the stock now?…

StockNews.com

5 Top Mining Stocks to Buy in June

Rising commodity prices and soaring demand for metals and materials should drive the performance of mining companies. Moreover, the digitization of various mining operations should bode well for the industry. Therefore, fundamentally sound mining stocks Rio Tinto Group (RIO), BHP Group Limited (BHP), Glencore plc (GLNCY), Vale S.A. (VALE), and…

StockNews.com

Biden calls on oil refiners to produce more, cut profit margins

In a letter to company heads, Biden says ‘historically high refinery profit margins’ are hurting US consumers.

Al Jazeera

Pennsylvania Options For Wellness Launches Rick Simpson Oil In Its Pennsylvania-Based Dispensary Locations

Pennsylvania Options for Wellness, Inc. launched Rick Simpson Oil under its "Vytal Options" brand of products in its Pennsylvania-based dispensary locations. The development of this product was announced after PA Options for Wellness/"Vytal Options" saw an increase in demand for a competitively priced RSO product. directions.

Benzinga

Indonesia trade minister sacked after palm oil export flip-flops

Indonesian president names new trade minister after a three-week export ban sent shockwaves through global markets.

Al Jazeera

Biden Questions Oil Companies On Lack Of Gasoline Amid Increasing Prices: Reuters

As U.S. president Joe Biden faces pressure over rising gasoline prices, he demanded oil companies explain why more gasoline is not in the market.

Benzinga

Biden warns oil companies to boost production – or he’ll force them to

‘I understand that many factors contributed to the business decisions to reduce refining capacity ... but at a time of war, refinery profit margins well above normal being passed directly onto American families are not acceptable’

The Independent UK

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The Independent UK

These recipes might help alleviate your hay fever

There is a strong link between food allergies and hay fever, nutritionist Ellie Bain tells Hannah Twiggs. Here’s how you can manage your symptoms through your diet

Asharq Al-Awsat

IEA: Global Oil Demand Set to Rise 2% to New High in 2023

World oil demand will rise more than 2% to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency said on Wednesday, although sky-high oil prices and weakening economic forecasts dimmed the future outlook. The Paris-based IEA also said in its monthly report supply…

The Independent UK

Indonesian leader reshuffles Cabinet amid rising food prices

Indonesian President Joko Widodo has announced a Cabinet reshuffle, replacing key economic ministers amid a national cooking oil shortage and rising food prices

Axios

Biden warns Big Oil that he's ready to use "emergency authorities" to boost gas output

The direct outreach to oil giants signals how gasoline and diesel prices have become both an economic and political shock.

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The Independent UK

Biden tells oil refiners: Produce more gas, fewer profits

President Joe Biden is calling on U.S. oil refiners to produce more gasoline and diesel

WEKU

Biden is under pressure on gas prices. So he's putting pressure on oil companies

President Biden says he wants the biggest refiners to do more to increase gasoline supply and lower prices. He says he's ready to use emergency powers to boost capacity — but he didn't give details.

The Independent UK

Three fast, furious and fresh Asian recipes to try this week

Simple to make, impressive to look at, these recipes from Jeremy Pang’s new cookbook are ready in a flash, says Lauren Taylor

Chronicle Live

Just Stop Oil protesters dragged away after blocking busy road in Newcastle city centre

Stop the Oil demonstrators have spoken of their shock at being dragged away by members of the public during a protest

The Times of India

EU bought 61% of Russia's fossil fuels in first 100 days of Ukraine war

NEW DELHI: Russia's invasion of Ukraine since late February has pushed up energy prices to record highs and tightened global supplies.

Asharq Al-Awsat

Riyadh Lists 11 Entities, 8 Individuals as Terrorist for Houthi Ties

The Saudi Presidency of State Security designated on Tuesday eleven entities and eight individuals as terrorist for their ties to the Iran-backed Houthi militias in Yemen. Saudi Arabia is determined and will continue to work to stop the influence of the Houthi militias, stressed the agency in a statement. The…

Financial Times

Oil vs human rights: Biden’s controversial mission to Saudi Arabia

The president’s trip to Riyadh next month is a remarkable U-turn that was sparked by Russia’s invasion of Ukraine

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