US sanctions

Chevron’s Venezuela oil contractors continue work despite impending Trump deadline

March 13, 2025

(World Oil) – Venezuelan oil contractors are continuing their work with Chevron Corp. and have not been warned of an impending shutdown despite a U.S. government deadline to stop producing oil there by early April. Local service companies working for three of Chevron’s joint ventures with state-owned Petroleos de Venezuela SA have not slowed down work, according to five people

Trump targets Iran’s oil but leaves the door open for talks

February 10, 2025

(Oil Price) – U.S. President Donald Trump is restoring the “maximum pressure” campaign on Iran, aiming to drive down the Islamic Republic’s oil exports to zero. But at the same time, President Trump signaled a willingness to negotiate a new nuclear deal with Iran that would allow it to “peacefully grow and prosper”—without obtaining a nuclear weapon. “I would much prefer a Verified

Iran says U.S. sanctions will destabilise oil and energy markets

February 5, 2025

(Investing) – DUBAI – Iran’s oil minister said imposing unilateral sanctions on crude producers would destabilise energy markets, the ministry’s SHANA news outlet reported on Wednesday, after U.S. President Donald Trump said he would seek to drive Tehran’s oil exports to zero. “Depoliticising the oil market is a vital issue for energy security. Imposing unilateral sanctions against major oil producers and

International diesel prices surge after U.S. sanctions on Russia

January 17, 2025

(Oil Price) – Diesel prices in Asia, Europe, and the U.S. jumped this week as the latest U.S. sanctions on Russia’s oil industry added to colder winter weather to boost futures prices and margins amid expectations of reduced diesel and crude supply from Russia. On January 10, the outgoing U.S. Administration imposed the most aggressive sanctions on Russia’s oil yet, designating two

Oil set for fourth straight week of gains as investors assess US sanctions