The government of the oil-rich nation took control of its petroleum industry in 1976, nationalizing hundreds of private businesses and foreign-owned assets.

Chevron is betting it is in prime position to unlock some of the world’s richest oil reserves. The oil company is clinging to ...

Discover the methods that companies use for forecasting oil prices, including calculus, econometrics, and market influences like OPEC and futures trading.

The latest projections from the Energy Information Administration show global oil inventories rising next year, putting downward pressure on prices. The agency expects a gallon of regular gasoline to ...

There’s a record 1.4 billion barrels of crude currently on the world’s oceans, pushing down benchmark prices and sending ...

World petroleum and other liquid fuels production will outweigh consumption by 2.24 million barrels per day in 2025, ...

Trump orders total blockade of Venezuelan oil tankers as the South American nation controls world's largest oil reserves with ...

Venezuelan President Nicolás Maduro described the detention of an oil tanker seized by US military personnel in the Caribbean Sea on Wednesday as an act ...

There are a number of factors this year that are making it a particularly unique time for oil, as Myra P. Saefong reports. For one thing, the world has more oil than it needs. Therefore, a drop in cru ...

The world has more oil than it needs, but a drop in crude prices this week to the lowest level in nearly five years may help ...

Crude oil output reached an estimated 5.9 million barrels per day in November, the highest level ever recorded in U.S.

Consorcio Petrolero 5M del Golfo won two contracts in the bidding process while Geolis, Petrolera Miahuapan and Cesigsa won ...