A look at the map of global oil reserves for 2024, and all you will see is a handful of countries dominating the scene. According to the Organisation of the Petroleum Exporting Countries (OPEC), world ...

The organization said the implied market surplus of 2.7 million b/d in the third quarter of this year, the largest since 2020, underscores the persistence of the oversupplied market. While stockpiling ...

The Strait of Hormuz is identified as one of the world's most critical oil chokepoints, with a staggering volume of oil passing through it annually. A potential closure of the Strait of Hormuz could ...

To free up cash, the oil giants have been cutting costs. Exxon recently announced it would reduce its workforce by 3-4%.

Under that Trump-led pressure — or intimidation, as some describe it — some countries started to waver. Ultimately, a bloc ...

Suriname says it can build an oil industry without harming the planet. Is it climate pragmatism — or wishful thinking?

The five largest publicly traded US oil and gas producers paid roughly $55 billion to governments around the world in 2024 to extract resources from their nations, with most funds paid to foreign ...

At the end of September, the United Nations reinstated wide-ranging sanctions on Iran that had been suspended under the now-defunct JCPOA 2015 nuclear agreement. The move came after the three European ...