U.S. President Donald Trump’s administration backed off an assertion he made earlier indicating he persuaded Saudi Arabia to effectively boost oil production to its maximum capacity, which would have threatened to blow up a fragile truce agreed by OPEC and inflamed the Saudi-Iran rivalry.
American politicians are at it again: punching OPEC.
The US has renewed its threat to place 25% on 50 billion dollars (£38bn) of Chinese goods in retaliation for what it says are the country's unfair trade practices.
President Donald Trump may have ordered the re-imposition of sanctions on Iran, but one of Asia’s biggest oil importers -- and a key strategic ally of the U.S. -- plans on ignoring them.
Oil extended gains as a new wave of U.S. sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines in American stockpiles.
A tough line from the US on imposing sanctions on Iran could see the oil price reach $80 a barrel, according to a pair of leading analysts.
Oil extended gains above $77 a barrel as a conflict between Israel and Iran ratcheted up, increasing prospects for tighter global supply after the U.S. renewed sanctions on OPEC’s third-largest producer.
Oil retreated from the highest level since 2014 as investors weighed competing views on whether the U.S. will reimpose sanctions on OPEC producer Iran and the potential consequences of such a decision.
Oil headed for a weekly gain as Iran called for the U.S. to comply with commitments it made under a 2015 nuclear deal that lifted punishing sanctions on OPEC’s third-largest producer.
Some oil traders are already steering clear of doing business with Iran as U.S. President Donald Trump signals he’ll ditch the nuclear deal with OPEC’s third-largest producer.
Growing up in Midland, John Northington looked out over the flat, featureless landscape and saw oil country ready and waiting to be drilled.
OPEC - the Organisation of Petroleum Exporting Countries - has come under fire from US President Donald Trump for producing "artificially very high" oil prices.
Oil headed for its worst week in a month after US President Donald Trump called for new tariffs on Chinese goods, souring investor optimism that tensions between the world’s two largest economies will ease with negotiations.
Donald Trump has fired US Secretary of State Rex Tillerson and replaced him with CIA director Mike Pompeo.
When President Donald Trump gave his State of the Union address Tuesday night, he touted the sweeping U.S. tax overhaul approved by Congress last month. For the country’s oil explorers, the law should mean an almost $200 billion boost in asset values, one consultant says.
If there was one message that echoed through the mountains ringing Davos a year ago, it was that the business world could ignore Donald Trump’s tweets.
BP, the UK oil major that invests more in the US than anywhere else, expects to take a charge of about $1.5 billion as a result of recent tax changes in the country, despite the prospects of long-term gains from the legislation.
The Trump administration is rolling back offshore drilling rules put in place after the 2010 Deepwater Horizon disaster killed 11 workers and spewed millions of barrels of oil into the Gulf of Mexico.
The Trump administration is preparing to unveil as soon as this week an expansive offshore oil plan that would open the door to selling new drilling rights in Atlantic waters, according to people familiar with the plan.
The headline number is impressive: A quarter-trillion dollars worth of deals from China that President Donald Trump can use to show he’s creating opportunities for U.S. businesses and jobs for his base.
The Trump administration will sell leases for some 77 million acres in the Gulf of Mexico for oil and gas drilling, the largest sale of offshore leases in US history.
Boris Johnson will urge Donald Trump to show the "far-sightedness" not to quit the Iran nuclear deal, arguing it illustrates the kind of "diplomatic imagination" that could solve the North Korea crisis.
Arctic drilling may be back on the cards if a proposed project off the Alaskan coast clears environmental hurdles.
Scott Darling, head of regional oil and gas at JPMorgan, discusses Trump’s hardline stance on Iran and what that will mean for the global markets. Watch the video to hear his take on Brent.
President Donald Trump is expected to visit two Texas cities for updates on the devastating flooding that has paralysed the region in the aftermath of Hurricane Harvey.