Secretary of State Marco Rubio on Sunday touted what he called a unique U.S. capability to refine Venezuela's abundance of crude oil, a linchpin of the Trump administration's takeover strategy for the country.

As a new oil trading year begins, crude futures continue to trade at or near their lowest levels in five years, despite heightened levels of geopolitical tension.

The U.S. military’s ouster of Venezuelan President Nicolás Maduro is set to swiftly reroute the country’s oil exports back toward the United States – and away from China. That will give U.S. refiners an immediate boost,

The world is producing more oil than it needs, so 2026 prices are expected to be lower. The question is how low a barrel will get. “$50 to $60 range is what most are seeing. Now some are calling for prices to dip into the $40s,” said Garrett Golding with the Dallas Fed.

One of Sable Offshore Corp.'s offshore oil platforms is seen from Refugio State Beach. Credit: Giana Magnoli / Noozhawk file photo ExxonMobil is selling its Santa Ynez Unit offshore oil platforms, onshore processing facility and former Plains-owned ...

Ukraine said its drones struck the largest Russian gas processing plant in the Orenburg region, which also processes gas from Kazakhstan’s Karachaganak oil and gas condensate field.

Archaeologists unearthed the Roman Empire’s second-largest olive oil processing complex in Tunisia. The find sheds light on the region’s central role in olive oil production and trade, and in turn the agricultural, economic, and daily life systems from ...