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The Latest Breaking News from Oil

Pensioner sues Oklahoma over ESG restrictions

Former Oklahoma state employee Don Keenan is suing the state, alleging that the Oklahoma law prohibiting state contracts with financial firms that boycott oil, gas, and other types of companies violates the U.S. Constitution and federal law. Keenan says he thinks oil and gas are important economically but argues the…

Ballotpedia

Profit motive is driving the effort to fix the climate—and that’s a good thing

The proliferation of CEOs at COP—including those from oil companies—should stoke optimism.

Fortune

‘Brand Dubai’: how the city-state is using Cop28 climate talks to build influence

The emirate hosting the UN’s climate conference is selling a gilded vision of aspiration built on oil and everything it powers

The Guardian - UK

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Venezuela To Vote On Oil-rich Region Controlled By Guyana

A decades-old dispute over the oil-rich Essequibo territory reaches a new, potentially escalatory chapter on Sunday as Venezuela holds a referendum regarding the Guyana-controlled region.

Latin Times

Could COP28 help UAE become a post-oil economy? | Explained

The United Arab Emirates (UAE), the world’s seventh largest oil producer, will host the 28th UN Climate Change Summit (COP28) in Dubai from November 30 to December 12

The Hindu

3 Hot Energy Stocks Flashing 'Buy' Signals

The energy market, witnessing oil demand surges and encouraging industry forecasts, suggests a positive trajectory for oil prices – providing an impetus for operators to heighten oil and gas production. Given this backdrop, quality energy stocks Newpark Resources (NR), Permianville Royalty Trust (PVL), and Superior Drilling Products (SDPI) could be…

StockNews.com

How problematic is mineral mining for electric cars?

In part two of our series exploring myths surrounding EVs, we weigh up the issues of resource extraction

The Guardian - UK

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Venezuela To Vote On Oil-Rich Region Controlled By Guyana

"The Venezuelan sun rises in Essequibo," "Essequibo belongs to Guyana" — the opposing camps' slogans say it all.

International Business Times

COP28 Puts Spotlight On State Oil Giants

Western energy firms are the usual suspects when it comes to criticism about the sector's role in climate change, but a less visible lineup of powerful state companies dominates the industry.

International Business Times

As climate crisis reaches pivotal moment, what on earth are world leaders waiting for?

2023 is officially the hottest year on record. World leaders gathering today in Dubai for the UN Climate Change Conference already know what they must do to reverse global warming but, as King Charles is set to warn them, this must be a ‘critical turning point’. Senior climate correspondent Louise…

The Independent UK

OPEC+ Invites Brazil to Join Oil Producers Alliance

Brazil is set to become the fourth Latin American country to become part of the cartel after Mexico and Venezuela. Ecuador withdrew in 2020

Latin Times

OPEC+ announces additional output cuts in bid to prop up volatile oil prices

Following a virtual meeting, OPEC+ members have announced additional oil supply cuts, with de facto leader Saudi Arabia saying it would extend an existing cut of one million barrels per day through to March next year. Russia pledged to slash oil exports by 500,000 barrels a day, up from 300,000,…

France 24

Crude Prices Fall on Market Doubts About OPEC+ Crude Production Cuts

January WTI crude oil (CLF24 ) on Thursday closed down -1.90 (-2.44%), and Jan RBOB gasoline (RBF24 ) closed down -0.0715 (-3.18%). Crude oil and gasoline prices on Thursday gave up early gains and sold off sharply after OPEC+ said it would cut its crude production level by -1.0 million...

Barchart

Impossible to quit? COP28 showdown over phase out of fossil fuels

It's off the charts. All evidence points to an acceleration of the planet’s record-breaking heat. So the blame game begins, as the COP 28 summit opens in the oil and gas-rich United Arab Emirates, between those who provide fossil fuels, those who consume them and those in the front lines…

France 24

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StockNews.com

Marathon Oil (MRO) vs. NOW (DNOW) - Evaluating Energy Stocks for Q4 Potential

With the energy market buzzing from robust crude demand and optimistic industry projections alongside OPEC+ interventions, the trajectory for Brent crude prices appears upward. In this scenario, which energy stalwart, Marathon Oil (MRO) or NOW Inc. (DNOW), is better positioned for growth in the fourth quarter? Let's find out.

Barchart

Crude Slumps as Announced OPEC+ Crude Production Cuts Lack Details

January WTI crude oil (CLF24 ) this morning is down -2.31 (-2.97%), and Jan RBOB gasoline (RBF24 ) is down -0.0727 (-3.23%). Crude oil and gasoline prices this morning gave up early gains and sold off sharply after OPEC+ said it would cut its crude production level by -1.0 million...

International Business Times

Brazil To Join OPEC+ In January: Report

An OPEC+ delegate told Reuters about Brazil's plans to join the international oil cartel. The government didn't confirm the report.

The Texas Tribune

A Texas politician wants to provide emergency services to constituents who don’t have them. Will they let him?

In unincorporated West Odessa, residents relish their freedom. And they also go without basic services. Ector County Judge Dustin Fawcett, a young Republican with Ronald Reagan good looks and politics, wants to change that.

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Trichologist reveals which hair oils are good or bad for your scalp

Do you use any of these oils?

Barchart

Will OPEC+ Deepen its Crude Oil Production Cuts?

OPEC+ members are meeting virtually today to discuss crude production levels. Several delegates have said the group is discussing additional output cuts of about 1 million bpd. The monthly meeting of OPEC+ was pushed back to today from last Sunday as a rift developed among OPEC+ members regarding crude production...

International Business Times

OPEC+ Agrees In Principle To 2 Million Barrel Production Cut For Early 2024

OPEC+ will reportedly expand existing production cuts; oil prices are up as a major climate summit gets underway.

Evening Standard

Cop 28: World’s ‘most important’ climate summit begins - Tech & Science Daily podcast

World leaders have gathered in Dubai for COP28 but can a climate summit in an oil state facilitate change?

Radio France Internationale

Cop28 opens with historic launch of loss and damage fund

Nearly 200 nations agreed Thursday to launch a fund to support countries hit by global warming, in a "historic" moment at the start of UN climate talks in the oil-rich UAE.

International Business Times

Hundreds Of New Oil And Gas Projects Approved Despite Climate Crisis

More than 400 oil and gas projects were approved globally in the last two years despite calls to abandon all new hydrocarbon development, new figures showed as the UN COP28 climate talks opened Thursday.

Al Jazeera

Loss and damage fund approved at UN’s COP28 climate summit in Dubai

UAE’s Sultan Al Jaber calls to ‘proactively engage’ fossil fuel companies as part of the solution to climate challenges.

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