The U.S. Department of Energy has awarded two contracts to add a total of nearly 1 million barrels of domestic crude oil to the Strategic Petroleum Reserve that is at about 50% of capacity. The DOE ...

The United States pumped an all-time high of 13.3 million barrels per day (bpd) of crude oil in 2024, the Energy Information Administration (EIA) said in its Petroleum Supply Annual released on Friday ...

According to the U.S. Energy Information Administration’s (EIA) latest weekly petroleum status report, which was released on August 27 and included data for the week ending August 22, there were 404.2 ...

Gasoline prices—now well below an average of $3 per gallon nationally—and crude oil costs have plunged to their lowest levels ...

The American Petroleum Institute (API) estimated that crude oil inventories in the United States saw yet another large draw, ...

Indian Oil Corp (IOC) reportedly skipped buying U.S. oil in its latest tender and instead turned to African and Middle Eastern grades. According to a Reuters report, IOC purchased 2 million barrels of ...

A new Nigerian crude grade, medium sweet Obodo, is set to enter the market in April, The PUNCH has learned. According to Argus Media on Thursday, an independent energy and commodity price benchmarks ...

Saudi Arabia cut the price of its flagship crude grade to the lowest level in five years, amid persistent signs of a surplus in global oil markets.

Daniel Liberto is a journalist with over 10 years of experience working with publications such as the Financial Times, The Independent, and Investors Chronicle. Cierra Murry is an expert in banking, ...