For much of the past century, oil has been the backbone of the global economy. It fuelled factories, transport, and trade, and helped determine which countries grew rich and which remained dependent.

With U.S. crude-oil prices hovering below the often critical $60 threshold, you might think it’d be a good time to tackle the glut of oil supply sloshing through global markets. Yet the major oil ...

Geopolitical uncertainty combined with the loss of Venezuelan exports could push oil and gasoline prices slightly higher in the weeks ahead, according to an industry expert. Still, prices at the pump ...

Forbes contributors publish independent expert analyses and insights. Robert Rapier is a chemical engineer covering the energy sector. Saudi Energy Minister Abdulaziz bin Salman Al Saud delivers a ...

OGJ’s reserve figures rely on survey responses and official updates released by individual countries, many of which are not provided every year. OGJ changes its estimate for a country only when it ...

LONDON/NEW YORK/NEW DELHI, Nov 18 (Reuters) - Global refining margins have hit multi-year highs in November due to sanctions on Russia, refinery outages and maintenance, according to LSEG data and ...

OPEC has kept its global oil demand growth forecasts unchanged for 2025 and 2026, expecting continued robust economic growth to drive demand. The cartel anticipates global oil demand to reach an ...

Russia's President Vladimir Putin shakes hands with OPEC Secretary General Haitham Al Ghais during the Saint Petersburg International Economic Forum (SPIEF) in Saint Petersburg on June 20, 2025. The ...

The Trump administration’s push to unlock Venezuela’s vast oil reserves could delay global oil supply decline for decades, with significant implications for oil markets and macro stability. US shale ...

The International Energy Agency further tempered its stance on an imminent peak in oil demand, reinstating a scenario in which global consumption keeps growing to the middle of the century. While oil ...

February WTI crude oil (CLG26) on Wednesday closed down -1.14 (-2.00%), and February RBOB gasoline (RBG26) closed down -0.061 (-0.36%). Crude oil and gasoline prices sold off on Wednesday, with crude ...

Global oil demand is projected to grow through at least 2040, driven by rising energy needs and ongoing challenges in scaling low-carbon technology and infrastructure, analysts at Goldman Sachs said ...