Oil prices settled higher after U.S. crude inventories fell and the U.S. Federal Reserve cut interest rates as expected, but gains were capped as the Fed signalled it would slow the pace of cuts

President-elect Donald Trump’s plan to impose a 25% tariff on Canadian and Mexican imports on his first day in office does not exempt oil from the trade sanctions

In a statement, the U.S. Environmental Protection Agency explained that this directive encourages companies to take immediate actions to reduce methane emissions

The Organization of Petroleum Exporting Countries (OPEC) is very positive on demand for oil in both the short and long term, Secretary General Haitham Al Ghais said at an energy industry event in Abu Dhabi

Companies drilling for the crude that turned the U.S. into the world’s top oil producer face an unexpected dilemma: their West Texas Midland crude is getting lighter, which could make it less appealing to some refiners

U.S. and global oil demand growth will be smaller next year than prior forecasts, the U.S. Energy Information Administration said in its Short-Term Energy Outlook report

The purchases are part of an effort to replenish stockpiles after President Joe Biden ordered the largest ever sale from the reserve in 2022 of 180 million barrels in an effort to control fuel prices

Crude inventories fell by 1.6 million barrels to 417.5 million barrels in the week ending Sept. 13, the EIA said, compared with analysts’ expectations

Global commodity traders Gunvor and Trafigura anticipate oil prices may range between $60 and $70 per barrel due to sluggish demand from China and persistent global oversupply, executives told a conference

U.S. oil production will increase by 320,000 barrels per day (bpd) this year, reaching 13.25 million bpd, a record slightly higher than previously forecast, the U.S. Energy Information Administration (EIA) reported