ABU DHABI, United Arab Emirates — U.S. Energy Secretary Chris Wright is not worried about falling oil prices and their impact on America’s shale oil industry, and is stressing that the coming years should be a time of energy abundance for the world’s largest economy. “The U.S. shale industry is going to is going to…
The Phillips 66 Company’s Los Angeles Refinery in California. Bing Guan | Reuters The oil price outlook is being hit with more bearish forecasts on the back of U.S. President Donald Trump’s sweeping and market-hammering tariff announcements. Businesses and investors worry that a trade war and lower global growth lies ahead. Goldman Sachs on Thursday…
A view shows the logo of Organization of the Petroleum Exporting Countries (OPEC) during the United Nations climate change conference COP29, in Baku, Azerbaijan November 13, 2024. Maxim Shemetov | Reuters Eight key OPEC+ producers on Thuesday agreed to raise combined crude oil output by 411,000 barrels per day, speeding up the pace of their…
President Donald Trump is urging oil producers to “drill, baby, drill.” U.S. oil and gas investors may not be on board with the plan. “Right now, with low oil prices, I think we’re going to start to see a lot of companies starting to pare back on their capital spending,” said Clark Williams-Derry, an energy finance…
Energy Secretary Chris Wright said Thursday that the oil market is discounting President Donald Trump’s push to produce more crude and gas in the United States. “We’ve seen a market discounting the fact that clearly it’s going to be easier to produce oil and gas in the United States,” Wright told CNBC’s “Squawk Box.” “More…
Crowley Some of the 23-strong crew of the Stena Immaculate oil tanker, which was in collision with the Solong cargo ship in the North Sea The co-owners of an oil tanker involved in a collision with a cargo ship in the North Sea have released the first picture of some of the crew and praised…
U.S. President Donald Trump looks on as military strikes are launched against Yemen’s Iran-aligned Houthis over the group’s attacks against Red Sea shipping, at an unspecified location in this handout image released March 15, 2025. White House | Via Reuters Oil prices rose on Monday after President Donald Trump said the U.S. would hold Iran…
HOUSTON — The U.S. could reach an agreement with Canada that avoids tariffs on imports of oil, gas and other energy resources, Energy Secretary Chris Wright said Monday. Wright said such a scenario is “certainly is possible” but “it’s too early to say” in response to a question from CNBC during a press conference at…
Thirty-two migrants attempting to cross the Mediterranean have been rescued by an NGO ship after spending several days stranded on an oil platform off the coast of Tunisia. “Women, men and children” were shipwrecked with no food or water, according to Mediterranea, a migrant rescue charity. One person on the platform had died, the charity…
India will cooperate with international sanctions, the country’s oil minister told CNBC on Tuesday, as markets eye future U.S. policy under the new administration of President Donald Trump. “We play by the rules. If there is an international sanction, which is anchored, we would not want to go around it or anything,” India’s Minister of…
