Venezuela claims to have more than 300 billion barrels in the ground, but it is only producing about one million barrels a day.

Brent crude oil prices fell to below $60 a barrel on Tuesday, the lowest since May, amid investor optimism over progressing peace talks between Russia and Ukraine, and a wave of oversupply hitting ...

Dec. 16 (UPI) --U.S. crude fell below $55 a barrel Tuesday to its lowest since early 2021 as markets reacted to surplus concerns and potential peace deal in Ukraine. West Texas Intermediate fell to a ...

Brent oil dropped below $60 a barrel for the first time since May, breaching a key level as supply outpaces demand and is on course to continue do so at a record clip next year. Brent fell as much as ...

Silver has finally crossed a threshold untouched since 1980. Today, the white metal trades above $60 per ounce, while oil sits below $60 per barrel. In essence, that means one ounce of silver can now ...

The oil market is grappling with whether sanctioned Russian and Iranian cargoes should still be counted as supply. This may explain why oil prices have been slow to react to a huge glut that is ...

-- Brent crude oil is down 0.8% to $61.47 a barrel. -- European benchmark gas is down 2.9% to 26.70 euros a megawatt-hour. -- Gold futures are down 0.3% to $4,221.50 a troy ounce. -- LME three-month ...

U.S. crude oil inventories increased more than expected last week as U.S. production hit a record high and exports fell, according to data released Thursday by the U.S. Energy Information ...

A buildup of a billion barrels of oil on the world’s oceans includes a disproportionately large amount of crude from nations subject to some kind of sanctions — a sign the measures are bringing a ...

U.S. oil prices retreated below $60 a barrel Wednesday, closing at their lowest level in three weeks. Front-month crude futures in New York dropped 4.2%, or $2.55 a barrel, to $58.49. Saudi-led OPEC ...

President Donald Trump’s announcement of a U.S.-China trade truce may have overshadowed a new report that has helped raise the alarm about a potential record-high global surplus of crude oil next year ...

Diamondback Energy sees “no need for incremental oil barrels” until global prices settle, the US shale operator said Monday in its quarterly earnings report. Earlier this year, as oil prices began to ...