Vivakor expands recurring revenue opportunities to $420 million with a new WTI crude oil supply agreement starting in 2026. Vivakor Inc. (NASDAQ:VIVK) announced a new crude oil transaction at the Cushing terminal, boosting its annualized contracted revenue opportunities to
Chevron's finance chief says gasoline prices will fall but cites a natural lag between crude cost declines and pump prices. Chevron CFO Eimear Bonner dismissed accusations of price-gouging by oil companies, stating gasoline prices will decline as crude costs normalize but
Iraq may leave OPEC if the cartel rejects its demand to increase oil output quotas to offset war-related losses. Iraq, OPEC’s second-largest oil producer, is considering withdrawing from the cartel if its request for a higher production quota is denied. The move aims to co
Oil prices extend losses for a fourth session as markets price in higher Middle East supply risks. West Texas Intermediate crude fell to $69.20 per barrel, extending its decline for a fourth straight day amid rising expectations of increased oil supply from the Middle East
Iraq warns it may leave OPEC if its oil production quota is not raised, citing financial strain from reduced exports. Iraq has signaled it may withdraw from OPEC if its production quota is not increased, a senior oil ministry official said. The country faces a financial cr
The deal marks a continued recovery in Persian Gulf crude exports following recent sales to Indian refiners. Qatar has agreed to sell a cargo of Al-Shaheen crude to a Taiwanese refiner, signaling a rebound in Gulf oil trade. The transaction follows a separate sale of Marin
Falling oil prices reduce inflation tail risks, easing pressure on front-end rates amid weakening US growth dynamics. Oil prices have declined to pre-war levels, reducing the likelihood of a return to $100 per barrel and easing inflation concerns. This shift lowers reprici
WTI declines to near $69 West Texas Intermediate (WTI) futures have fallen to around $69, nearing pre-Middle East war levels. The decline is attributed to increased oil flows through the Strait of Hormuz and rising confidence among shipowners. The Internati
The bank lowers its year-end Brent price target citing softer demand and slower-than-expected OECD inventory draws. JPMorgan reduced its Brent crude price forecast for the second half of 2026, now expecting $86 per barrel in Q3, $80 in Q4, and a year-end exit at $78. The r
Beijing’s crude oil imports fell to their lowest level since 2018, signaling weaker domestic demand and potential pressure on global oil prices. China’s crude oil imports slumped to their lowest level since 2018, reflecting subdued domestic demand and broader economic head
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