Oil

Trump Admin Revives Offshore Drilling With Massive Lease Sales

The Trump administration is charging forward with a major expansion of offshore oil and gas leasing, reversing Biden-era restrictions and signaling a renewed push for American energy dominance. The Interior Department’s Bureau of Ocean Energy Management (BOEM) announced a detailed lease sale schedule covering the Gulf of America and Alaska’s Cook Inlet.

Commingling Rule Overhaul Fuels America’s Energy Independence

Federal regulators have updated oil and gas commingling rules to align with the One Big Beautiful Bill Act. The Department of the Interior aims to strengthen domestic energy production by cutting red tape and streamlining operations, while maintaining safety and efficiency standards. Energy advocates praised the move as a victory for American workers and families.

Sochi Oil Depot Erupts After Ukrainian Drone Strike

A Ukrainian drone strike overnight ignited a major fire at an oil depot near the Russian Black Sea resort of Sochi, intensifying the ongoing conflict as both sides continue to exchange strikes across the region. Russian officials confirmed the attack Sunday, marking yet another escalation amid growing international pressure for a ceasefire.

California Scrambles to Save Benicia Refinery Amid Mounting Fuel Supply Fears

California officials are taking the rare step of seeking a buyer for Valero Energy's Benicia refinery, slated to shut down by April 2026.

U.S. Warns China of 100% Tariffs over Russian Oil Purchases

U.S. Treasury Secretary Scott Bessent warned China that continued purchases of sanctioned Russian oil could trigger tariffs as steep as 100%.

Alaska’s Resources Unleashed in New Power Move

The Trump administration withdrew three Biden-era policies blocking development on Alaskan resources in a move bolstering American energy.

Chevron Seals $53B Hess Takeover

Chevron completed its $53 billion acquisition of Hess Corporation after nearly two years.

OPEC Oil Demand Forecast Defies Green Energy Hype

OPEC released its 2024 World Oil Outlook on Thursday, forecasting a 19 percent rise in global oil demand by 2050—driven by population growth, urbanization, and soaring power needs, particularly from AI and industrial expansion in developing nations. The group projects oil demand will increase from 103.7 million barrels per day (bpd) in 2024 to 123 million bpd by 2050.

Trump Admin Launches Massive Gulf Oil Lease Sale for December

The Trump administration has scheduled a major offshore oil and gas lease sale in the Gulf of America for December 10, 2025.

Oil Prices Surge as American Demand Strengthens

U.S. oil and fuel inventories dropped sharply last week, signaling powerful American demand that is pushing prices higher.

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