oil prices

In just a few years, thanks to Gov. Gavin Newsom’s (D-CA) greedy, unnecessary, and punitive environmental regulations, the former Golden State has lost two refineries.

Financial markets on Monday indicated that any damage to the U.S. economy from the military conflict between the U.S. and Iran is likely to be minimal.

President Donald Trump announced during his annual State of the Union address on Tuesday night that the United States has received 80 million barrels of oil from the socialist rogue state of Venezuela this year, a development made possible by the arrest of its dictator, Nicolás Maduro.

Indian Petroleum and Natural Gas Minister Hardeep Singh Puri appeared to confirm President Donald Trump’s claim that New Delhi would be expanding Venezuelan oil purchases in comments on Monday, stating that India was already buying Venezuelan oil and has refineries specially outfitted to handle crude from that country.

Acting Venezuelan President Delcy Rodríguez met with China’s ambassador to the country, Lan Hu, on Thursday, in an effort to reassure the chavistas’ communist patrons that their prime position in Venezuelan politics would be respected following the arrest of longtime dictator Nicolás Maduro.

The operation to remove Nicolás Maduro may prove more economically significant than most commentary suggests.

The International Energy Agency (IEA) documented a drop in Russian oil export revenue of over $13 billion between October and November in a report published on Thursday, a potential signal that President Donald Trump’s sanctions on Russia’s oil industry imposed in late October have begun to affect the market.

Hungarian Prime Minister Viktor Orbán, in Italy for meetings with his counterpart Giorgia Meloni and leaders at the Vatican, told reporters on Monday that he would travel to the White House soon to discuss sanctions on Russia, which he argued disproportionately hurt Hungarians.

Hungarian Prime Minister Viktor Orbán said in an interview on Friday that his country was not planning to abide by President Donald Trump’s recent sanctions imposed on the Russian oil industry and was studying ways to “circumvent” them.

Russian Foreign Ministry spokeswoman Maria Zakharova responded to the U.S. Treasury Department’s latest round of sanctions against Russian oil on Thursday by dismissing them as irrelevant, claiming Russia will “not face any particular problems.”

Saudi Aramco, the national oil company of Saudi Arabia, posted a 22 percent decline in profits for the second quarter of 2025.

Energy Secretary Chris Wright on Tuesday walked through what the U.S. has done to become “energy dominant” under the leadership of President Donald Trump, explaining that the price of oil is a “great testament” to this agenda.

Oil prices sunk more than three percent early Tuesday morning.

Oil prices fell around one percent Monday morning.

A sharp rise in global oil prices following Israeli strikes on Iran will benefit Russia and bolster its military capabilities in the war in Ukraine, Ukrainian President Volodymyr Zelensky said.

Iranian Parliament Speaker Mohammad Baqer Qalibaf on Sunday vowed to stand against “global arrogance” alongside Venezuela’s socialist regime during his official visit to Caracas, calling for a deepening of economic ties between the anti-U.S. regimes.

The U.S. Treasury Department announced sweeping sanctions on Tuesday against a network of corporations accused of helping Iran avoid sanctions on its oil industry by obscuring the true origin of the product.

Secretary of the Interior Doug Burgum explained in an interview on Wednesday that greatly expanding America’s share of the global energy market is part of President Donald Trump’s plan to increase world peace and limit the ability of malicious actors, including Russia, to cause mayhem.

Worldwide oil prices dropped roughly two percent on Monday after a comparable fall on Friday, driven by investor disappointment with the Chinese government’s weak economic stimulus plan.

Indian Prime Minister Narendra Modi made a historic visit to Kyiv, Ukraine, alongside President Volodymyr Zelensky on Friday, signing multiple agreements with the state and honoring the victims of Russia’s invasion.

The Venezuelan newspaper Tal Cual reported on Sunday that the United States received 12 shipments of crude oil and asphalt from Venezuela.

Venezuelan citizens will soon have to book appointments to buy subsidized fuel rations for their vehicles, Oil Minister Pedro Tellechea said.

OPEC+ announced it would extend existing overall limits on oil production through 2025, attempting to ensure prices do not fall too low.

A report published on Monday by Bloomberg, citing the Russian Finance Ministry, found that Moscow generated over double the amount of revenue in April 2024 from oil sales and taxes compared to April 2023.

The ruling socialist regime in Venezuela documented an 18-percent increase in oil output in the first trimester of 2024 when compared to the same period in 2023, according to information published by the Organization of the Petroleum Exporting Countries (OPEC) in its latest April 2024 report.

Tareck El Aissami, former Venezuelan oil minister, has resurfaced in handcuffs, charged with treason, money laundering, and corruption.

Argentine President Javier Milei asserted in an interview on Sunday that he “would not have any problem” imposing diplomatic sanctions against Venezuela’s socialist regime, suggesting he would be willing to convince other countries to support similar measures.

Saudi Arabia’s national oil company, Aramco, on Sunday reported near-record profits of $121 billion in 2023. The eye-catching total might seem a bit surprising given media narratives that fossil fuels are on the way out, but Aramco found demand for oil stronger than ever, albeit distributed somewhat differently than in years past.

Shipping costs rose over 300 percent due to the Iran-backed Houthi terrorists of Yemen attacking cargo ships in the Red Sea.

The industry publication Energy Intelligence reported that South Korea increased the amount of crude oil it imported from Saudi Arabia.

CARACAS, Venezuela — The Venezuelan socialist Maduro regime is expecting a substantial increase in its oil exports in 2024 after President Joe Biden eased oil sanctions on the rogue socialist regime in October.

CARACAS, Venezuela — The socialist Maduro regime is foreseeing a 27-percent increase in its income after the Biden Administration lifted sanctions on the state-owned Petróleos de Venezuela (PDVSA) oil company, according to a report published by Reuters on Tuesday.

The administration of President Joe Biden and the socialist regime of Venezuela are in talks that could lead to Washington lifting more oil sanctions, according to a report published by Reuters on Monday.

The oil market has been rattled by worries that the Hamas attack could hurt global energy supplies.

The rogue governments of Iran, Syria, and Venezuela have signed an agreement to build an oil refinery in the former rebel stronghold of Homs, Syria, Iran’s Tasnim News Agency reported on Sunday.