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Oil

Business Series

Inside this country's push into international clean energy

In partnership with Azpromo

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Business

Global oil inventories are alarmingly low, Aramco warns

The CEO of the world's biggest oil company warned at a conference that the global oil supply system is reaching its limit and that replenishing global oil stockpiles could take two years.

Economy

Gulf crude exports return to pre-war levels, excluding Iran

Oil exports from the Middle East, excluding Iran, exceeded their pre-war average last week, Kpler data showed, as pipelines helped bypass the Strait of Hormuz despite continued attacks on shipping.

France

IEA says 325 million barrels of emergency oil has been released

G7 leaders agreed on Friday to release 100 million barrels of diesel and crude after US pressure on Europe, with supplies squeezed by Iran's restrictions on shipping through the Strait of Hormuz.

Europe News

‘Releasing strategic reserves is possible,’ EU energy chief says

Member states are discussing a coordinated release through the IEA, as the US pressures Europe to put more oil on the market. The Energy Commissioner told Euronews that Brussels can help coordinate the effort.

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Cinema

Euronews Culture's Film of the Week: 'Digger' – Tom Cruise stuck in postmodernist misfire

Oscar-winning director Alejandro González Iñárritu teams up with Tom Cruise for 'Digger', one of the boldest and wildest films of 2026. It may also be one of this year's biggest misfires.

Markets

Oil hovers around $100 as US bonds suffer worst quarter since 1994

Oil prices bounced back above $100 a barrel on Thursday as a US-Iran deal remained elusive, while European stocks fell and US government bonds came off their worst quarter since 1994, with the 10-year Treasury yield at its highest since 2007.

Business

The Meloni government extends the excise tax cut until 1 May

"It will cost 500 million euros," Economy Minister Giorgetti announced after Friday morning's cabinet meeting. The 25-cent discount due to end on 7 April, with tax credits extended to agricultural firms.

Tech News

Kazakhstan wants crypto miners to use power generated by excess oil field gas

Kazakhstan is allowing crypto miners to use excess associated gas from oil fields to generate their own electricity, in a bid to reduce gas flaring and increase oil output while attracting miners back to the country.

Climate

Mapped: Oil slicks cover an area 3 times the size of Spain every year

More than 90 per cent of the estimated oil pollution in the oceans occurs within national waters – including in protected areas.

Business

Spanish farmers demand urgent aid as war in Iran drives up costs

Asaja, COAG, UPA, Unión de Uniones and the agri-food cooperatives are urging the government for direct aid over soaring farm diesel and fertiliser prices caused by the war in Iran, warning protests will go ahead if no action is taken.

Europe News

Brussels to keep ban on Arctic oil and gas drilling

Euronews has learned that the European Commission will maintain its ban on new oil and gas drilling in the Arctic, ahead of the 20 October announcement of its revamped Northern Neighbourhood strategy.

Europe News

Explainer: How a Saudi pipeline attack is testing EU’s oil security

A prolonged disruption to Saudi supplies could force European refiners to scramble for alternative grades, potentially raising their costs or cutting fuel output. A shortage of diesel could quickly translate into higher costs for haulers, farmers, businesses and consumers.

Syria

Fuel price protests spread across Syria as minister faces hearing

Demonstrators blocked oil tanker routes and roads in six provinces on the second consecutive day of unrest over a 25-40% fuel price rise, as more than 50 MPs signed a demand to question the energy minister.

Saudi Arabia

Saudi pipeline shutdown threatens oil supplies to Europe and Asia

The pipeline disruption comes as Gulf oil exports have already fallen sharply and shipping routes face further threats. With no restart date announced, the impact on deliveries to Europe and Asia depends on how long the shutdown lasts.

Economy

Oil surges past $108 after Hormuz attack and Saudi pipeline shutdown

Brent crude climbed above $108 a barrel on Monday morning after a merchant vessel was struck in the Strait of Hormuz, killing one crew member, and Saudi Arabia shut its main pipeline bypassing the waterway, renewing fears that Middle East supply routes are closing.

Europe News

Diesel in Portugal hits record high, Spain introduces new discount

Many Portuguese already cross the border to fill up; the trend is now even clearer, as Spain's government adds a 20-cent-per-litre discount, making Spanish diesel the second cheapest in the EU.