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Oil Markets Brace for Trump Statement as Key Policies Hang in the Balance

OilPrice

Global crude benchmarks edged sideways in early-morning trading on Monday as the oil market awaited an official statement from President Donald Trump, expected to address U.S. energy policy, including possible changes to sanctions enforcement and Strategic Petroleum Reserve (SPR) management.

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Former CFO of Nigeria’s State Oil Firm Arrested Over Alleged $7-Billion Fraud

OilPrice

Nigeria’s Economic and Financial Crimes Commission has arrested two ex-oil officials, including the former chief financial officer of Nigeria’s state energy firm NNPC, over an alleged $7.2-billion billion fraud, corruption, and abuse of office.

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DoE Hands the Keys to Strategic Crude Oil Stockpile to New Firm

OilPrice

billion contract to Strategic Storage Partners, LLChardly a household nameto manage the Strategic Petroleum Reserve (SPR)Americas emergency stash of crude oil. After a transition period, Strategic Storage Partners will take over from the current SPR management firm, Fluor Federal Petroleum Operations (FFPO) on June 15, 2025.

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Iraq’s 7 Million bpd Oil Production Goal Draws Swift Response from Chinese Firms

OilPrice

The recent reiteration by Iraq Oil Ministry of a 7 million barrels per day (bpd) oil production target within the next five years has spurred activity among Chinese firms that continue to dominate the countrys oil and gas sector.

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India Eyes New Sites to Boost Strategic Oil Reserves

OilPrice

India, the world’s third-largest crude oil importer, which depends on imports for about 85% of its daily consumption, considers building three new sites to raise its strategic petroleum reserves.

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Oil Climbs 2% as Houthi Rebels Hit Second Greek Vessel in Red Sea

OilPrice

A Greek-operated bulk carrier was attacked in the Red Sea on Monday in the second Houthi strike on commercial shipping in less than 24 hours, stoking fears of a renewed escalation in one of the world’s most critical oil transit corridors, Arab and Israel media report.

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BP sees lower oil prices denting Q2 profit

Oil & Gas 360º

(Oil Price) – Lower oil and gas prices are expected to dent the second-quarter earnings at BP, despite higher output and stronger refining margins. Brent oil prices averaged $67.88 The gas marketing and trading result is expected to be average, BP said, but noted that the “The oil trading result is expected to be strong.”

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