Oil News
Oil News brings together the latest updates, analysis, and market developments from across the global sector. Follow news on oil and hydrocarbons, oil markets, oil storage, petroleum reserves, infrastructure, policy, and investment developments shaping the global oil sector.
Oil Suffers Worst Run This Year as Hormuz Deal Reshapes Outlook
Oil headed for its longest losing streak this year as the US-Iran deal to reopen the Strait of Hormuz boosted expectations for a revival in supply, with leading Wall Street banks reducing their price forecasts.
China’s Oil Refiners Slash Output After Crude Imports Plunge
Chinese oil refiners sharply reduced output last month to the weakest level in nearly four years, after the country’s crude imports plunged to an eight-year low due to the near-halt to shipments from the Persian Gulf.
Shipowners Seek Clarity on Hormuz Deal as 600 Vessels Eye Exit
A deal that could reopen the Strait of Hormuz within days has been met with caution among shipowners and traders, with many saying they would wait for more details in order to assess whether safe transits are possible after months of false starts.
