There’s a record 1.4 billion barrels of crude currently on the world’s oceans, pushing down benchmark prices and sending gasoline under $3 a gallon at the pump in the US.

Oil prices were little changed on Tuesday as potential sales of Venezuelan crude seized by the United States were countered by heightened supply disruption fears after Ukrainian attacks on Russian vessels and piers.

Time for enforcement? Between 2017 and 2023, enough sanctioned oil was exported from Iran, Syria, Russia and Venezuela to satisfy U.S. oil consumption for over eight months. The Coast Guard seems to be taking it seriously.

Former Exxon executive Meg O’Neill is set to become the first woman to lead an oil major.

Crude oil prices had skidded to early-2021 lows last week as expectations of a peace agreement between Russia and Ukraine raised hopes of bringing Russian oil back into supply chains. However, oil prices bounced back as geopolitical tensions,

Norway's combined oil and gas production beat an official forecast by 0.9% in November, the Norwegian Offshore Directorate (NOD) said on Tuesday.

Crude futures pick up from early losses and add to yesterday’s gains as the U.S. steps up actions in the Caribbean to cut off Venezuela’s oil trade and increase pressure on the country’s strongman Nicolás Maduro.

Wyoming oil and gas operators are cheering a BLM announcement last week to delay a Biden-era 1,400% hike on bonding costs. The huge increase threatened