Tag: Oil
Trump Signals Exxon May Be Barred From Venezuela After CEO Calls Country ‘Uninvestable’
Key Highlights Introduction U.S. President Donald Trump escalated tensions with the energy sector on Sunday, signaling that Exxon Mobil could be barred from investing in Venezuela after its CEO described the country as “uninvestable.” The remarks highlight a growing divide between the Trump administration’s push to rapidly reopen Venezuela’s oil industry and the caution expressed
Oil prices extend losses as OPEC+ considers output hike
Oil prices fell over 2% as OPEC+ prepares to discuss a potential production hike this weekend. Both Brent crude and WTI benchmarks slid, with traders shifting expectations toward increased supply.
BP Celebrates Major Oil Discovery Off Brazil’s Coast
BP has unearthed its largest oil and gas discovery in 25 years off the coast of Brazil, within the Santos Basin. The breakthrough occurred in the Bumerangue block, revealing significant reserves of crude oil, natural gas, and condensate.