Crude oil inventories in the United States increased by 3.4 million barrels during the week ending January 14, according to new data from the U.S. Energy Information Administration (EIA) released on W

LONDON, Jan 12 (Reuters) - Global oil trading houses have emerged as early winners in the race to control Venezuelan crude flows, getting ahead of U.S. energy majors wary of credit and legal risks and securing a potentially lucrative business opportunity in the country with the world's largest crude reserves.

Energy secretary reveals Venezuelan oil export plan as Trump administration seeks to restart flow from world's largest oil reserves to the U.S. market.

A potential petrol price hike in Nigeria is imminent as global crude oil prices cross $66/barrel due to international market instability. Read more.

Venezuela has the world’s largest oil reserves—but history, costs, and political risk raise questions about whether U.S. oil companies are ready to invest.

Oil and gasoline prices could rise slightly due to Venezuelan export losses and geopolitical uncertainty, though pump prices remain at COVID-19 lows.

Current crude oil sentiment is extremely bearish, yet physical demand remains robust and inventories are low. Energy sector policy challenges and declining rig counts may limit U.S. production growth, further supporting bullish oil positioning. USOI's ...

The U.S. carried out operations Wednesday to seize two Venezuela-linked tankers, and Secretary of State Marco Rubio said the U.S. has "tremendous leverage" over the country.

Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews. Most investment banks and the EIA forecast that average oil prices will fall below $60 per barrel in 2026 due to an emerging and ...

India's crude oil reserve has gone down below USD 60 per barrel for the first time since February 2021. The country meets approximately 88 percent of its crude oil demand through imports.