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Oil Prices

Oil set for weekly rise amid Red Sea shipping attacks, Kazakhstan output cuts

Oil headed for weekly gains as Red Sea tanker attacks and Kazakhstan's export disruption raised supply fears, with Brent near $100 and WTI set for strong weekly advances.

Oil set for weekly rise amid Red Sea shipping attacks, Kazakhstan output cuts
Oil rises on intensifying US-Iran hostilities and threat of Red Sea closure

Oil rises on intensifying US-Iran hostilities and threat of Red Sea closure

Oil eases as traders weigh US-Iran conflict risks

Oil eases as traders weigh US-Iran conflict risks

Oil rises after US-Iran hostilities flare again with strikes on energy targets

Oil rises after US-Iran hostilities flare again with strikes on energy targets

Oil hits one-month high as US, Iran step up attacks in Strait of Hormuz

Oil hits one-month high as US, Iran step up attacks in Strait of Hormuz

Oil edges lower, but heads for weekly gain as Middle East supply risks persist

Oil edges lower, but heads for weekly gain as Middle East supply risks persist

Oil rises more than a dollar per barrel as US launches fresh strikes against Iran

Oil rises more than a dollar per barrel as US launches fresh strikes against Iran

Oil prices gain as focus shifts to supply recovery and demand

Oil prices gain as focus shifts to supply recovery and demand

Oil slips after OPEC+ agrees to raise output targets

Oil slips after OPEC+ agrees to raise output targets

Govt reduces petrol, diesel prices by Rs1.97 per litre

Govt reduces petrol, diesel prices by Rs1.97 per litre

Oil up slightly ahead of long US weekend as peace efforts hold

Oil up slightly ahead of long US weekend as peace efforts hold

Oil ticks higher as Iran's refusal to meet US envoys dims ceasefire hopes

Oil ticks higher as Iran's refusal to meet US envoys dims ceasefire hopes

Oil falls as investors focus on potential Iran-US talks in Doha

Oil falls as investors focus on potential Iran-US talks in Doha

Oil climbs following renewed US, Iran strikes in Middle East

Oil climbs following renewed US, Iran strikes in Middle East

Govt keeps petrol, diesel prices unchanged

Govt keeps petrol, diesel prices unchanged

Oil prices extend decline on expectations of smoother crude flows via Hormuz

Oil prices extend decline on expectations of smoother crude flows via Hormuz

Pakistan ends fuel conservation, austerity measures

Pakistan ends fuel conservation, austerity measures

Jet fuel prices slashed after petrol, diesel cuts

Jet fuel prices slashed after petrol, diesel cuts

Brent, WTI crude prices rise globally

Brent, WTI crude prices rise globally

Petroleum prices still above pre-war levels, consumers bear additional costs in Pakistan

Petroleum prices still above pre-war levels, consumers bear additional costs in Pakistan

Oil falls as supply starts moving through Strait of Hormuz

Oil falls as supply starts moving through Strait of Hormuz

Oil slips again as US, Iran sign peace deal

Oil slips again as US, Iran sign peace deal

Oil rises more than $1 as escalation in US-Iran strikes unnerve traders

Oil rises more than $1 as escalation in US-Iran strikes unnerve traders

Oil rises nearly 1pc as US launches new strikes against Iran, supply tightens

Oil rises nearly 1pc as US launches new strikes against Iran, supply tightens

Oil falls as investors await clarity after Iran-Israel halt attacks

Oil falls as investors await clarity after Iran-Israel halt attacks

Oil prices rise more than $2 on Israel strikes on Lebanon

Oil prices rise more than $2 on Israel strikes on Lebanon

Oil falls, stocks mixed on US-Iran truce prospects

Oil falls, stocks mixed on US-Iran truce prospects

Oil back at $100 as US strikes douse Iran war hopes

Oil back at $100 as US strikes douse Iran war hopes

Oil rebounds on uncertainty over Iran peace deal and inventory drawdowns

Oil rebounds on uncertainty over Iran peace deal and inventory drawdowns

Oil prices slip on teetering Iran ceasefire as Trump heads to China

Oil prices slip on teetering Iran ceasefire as Trump heads to China

Kerosene oil price reduced by Rs41.80 per litre

Kerosene oil price reduced by Rs41.80 per litre

Oil prices rise about $1 as investors weigh Middle East peace prospects

Oil prices rise about $1 as investors weigh Middle East peace prospects

Oil prices jump as Iran attacks UAE, US warships enter Hormuz

Oil prices jump as Iran attacks UAE, US warships enter Hormuz

OPEC+ nations agree to adjust oil output by 188,000 barrels per day

OPEC+ nations agree to adjust oil output by 188,000 barrels per day

Oil slips after Trump says US will help free ships stranded in Strait of Hormuz

Oil slips after Trump says US will help free ships stranded in Strait of Hormuz

Oil prices extend gains as US-Iran war deadlock keeps supply off market

Oil prices extend gains as US-Iran war deadlock keeps supply off market

Oil rises on reports US will extend Iran blockade, prolonging Mideast supply disruptions

Oil rises on reports US will extend Iran blockade, prolonging Mideast supply disruptions

UAE leaves OPEC and OPEC+ in major blow to global oil producers' group

UAE leaves OPEC and OPEC+ in major blow to global oil producers' group

Oil prices rise as no end to Iran war stand-off seems in sight

Oil prices rise as no end to Iran war stand-off seems in sight

Oil climbs nearly 2% as US-Iran peace talks stall

Oil climbs nearly 2% as US-Iran peace talks stall

Oil rises on concerns over escalating military tensions in the Middle East

Oil rises on concerns over escalating military tensions in the Middle East

Attock Refinery halts operations amid road closures, fuel supply risks emerge

Attock Refinery halts operations amid road closures, fuel supply risks emerge

Oil prices turn lower as investors assess outlook for US-Iran peace talks

Oil prices turn lower as investors assess outlook for US-Iran peace talks

Oil falls on expectations US-Iran talks likely to proceed, opening supply

Oil falls on expectations US-Iran talks likely to proceed, opening supply

Oil prices rise again amid Strait of Hormuz tensions

Oil prices rise again amid Strait of Hormuz tensions

Oil claws back losses as Strait of Hormuz is closed again

Oil claws back losses as Strait of Hormuz is closed again

Oil falls on prospects for talks to end Iran war and revive supply

Oil falls on prospects for talks to end Iran war and revive supply

Oil prices fall as hopes for US-Iran deal outweigh supply disruption concerns

Oil prices fall as hopes for US-Iran deal outweigh supply disruption concerns

Oil prices fall for a second day on expectations US-Iran talks may resume

Oil prices fall for a second day on expectations US-Iran talks may resume

Oil prices fall as US-Iran dialogue hopes ease supply concerns

Oil prices fall as US-Iran dialogue hopes ease supply concerns

Oil jumps 7% to above $100 ahead of US blockade on Iran

Oil jumps 7% to above $100 ahead of US blockade on Iran

Oil prices rise after strikes on Saudi oil facilities

Oil prices rise after strikes on Saudi oil facilities

Oil gains 4% as fragile ceasefire, Hormuz restrictions keep supply risks elevated

Oil gains 4% as fragile ceasefire, Hormuz restrictions keep supply risks elevated

Oil prices mixed; Brent flat, US crude up as Iran keeps Hormuz shut ahead of Trump deadline

Oil prices mixed; Brent flat, US crude up as Iran keeps Hormuz shut ahead of Trump deadline

Oil prices extend gains as Trump sharpens rhetoric on Iran

Oil prices extend gains as Trump sharpens rhetoric on Iran

Oil prices rise as US-Israeli war with Iran continues to disrupt supply

Oil prices rise as US-Israeli war with Iran continues to disrupt supply

Oil surges, stocks mixed as Trump dashes hopes of quick end of war

Oil surges, stocks mixed as Trump dashes hopes of quick end of war

Public fumes over unprecedented hike in fuel prices

Public fumes over unprecedented hike in fuel prices

Front-month Brent oil futures extend gains after record monthly rise in March

Front-month Brent oil futures extend gains after record monthly rise in March

UAE announces higher petrol and diesel prices for April 2026

UAE announces higher petrol and diesel prices for April 2026

Oil down 1% after report says Trump open to ending campaign against Iran

Oil down 1% after report says Trump open to ending campaign against Iran

Brent heads for record monthly jump as Iran conflict widens

Brent heads for record monthly jump as Iran conflict widens

Global oil prices pose threat to Pakistan's fiscal stability: report

Global oil prices pose threat to Pakistan's fiscal stability: report

PM rejects proposal to hike petrol by Rs 95 per litre, diesel by Rs 203 per litre

PM rejects proposal to hike petrol by Rs 95 per litre, diesel by Rs 203 per litre

Petrol, diesel prices unchanged as PM Shehbaz rejects steep hike proposal again

Petrol, diesel prices unchanged as PM Shehbaz rejects steep hike proposal again

India cuts excise duties on petrol, diesel as global oil prices surge

India cuts excise duties on petrol, diesel as global oil prices surge

Oil prices fall as Trump pauses attacks on Iranian energy plants

Oil prices fall as Trump pauses attacks on Iranian energy plants

Punjab government approves partial opening of offices on Friday with essential staff only

Punjab government approves partial opening of offices on Friday with essential staff only

All Pakistan Petrol Pump Owners Association raises concerns over fuel pricing mechanism

All Pakistan Petrol Pump Owners Association raises concerns over fuel pricing mechanism

Oil prices drop on prospect of Middle East ceasefire easing supply disruption

Oil prices drop on prospect of Middle East ceasefire easing supply disruption

Oil prices jump, stocks slip as Trump's Iran claims raise doubts

Oil prices jump, stocks slip as Trump's Iran claims raise doubts

Federal govt reduces office days, implements work-from-home to tackle energy crisis

Federal govt reduces office days, implements work-from-home to tackle energy crisis

Oil falls over 13% on Trump postponing military strikes on Iran energy infrastructure

Oil falls over 13% on Trump postponing military strikes on Iran energy infrastructure

Oil prices ease as Iraqi and Kurdish authorities agree to export deal

Oil prices ease as Iraqi and Kurdish authorities agree to export deal

Oil gains over 2% as market weighs Iran war supply risks

Oil gains over 2% as market weighs Iran war supply risks

Oil poised for further gains as Middle East conflict threatens export facilities

Oil poised for further gains as Middle East conflict threatens export facilities

Oil climbs as tankers are attacked in Iraqi waters amid Middle East war

Oil climbs as tankers are attacked in Iraqi waters amid Middle East war

Oil prices choppy as WSJ reports IEA eyes biggest oil release ever

Oil prices choppy as WSJ reports IEA eyes biggest oil release ever

Oil prices surge 20pc as expanding US-Israeli war with Iran cuts supplies from Mideast

Oil prices surge 20pc as expanding US-Israeli war with Iran cuts supplies from Mideast

KP CM Afridi criticises fuel price hike amid Iran-US-Israel tensions

KP CM Afridi criticises fuel price hike amid Iran-US-Israel tensions

PM Shehbaz meets Nawaz Sharif at Jati Umra to discuss economy and oil supply

PM Shehbaz meets Nawaz Sharif at Jati Umra to discuss economy and oil supply

Pakistan hikes kerosene price by Rs130 after US-Israel war on Iran drives oil surge

Pakistan hikes kerosene price by Rs130 after US-Israel war on Iran drives oil surge

Brent crude hits $90 as Middle East tensions rattle global oil markets

Brent crude hits $90 as Middle East tensions rattle global oil markets

Oil falls as US may intervene in futures market, issues waiver for Russian purchases

Oil falls as US may intervene in futures market, issues waiver for Russian purchases

Oil rises over $1 as Iran crisis disrupts Middle East supply

Oil rises over $1 as Iran crisis disrupts Middle East supply

Oil rises as expanding US-Israeli conflict with Iran elevates supply risks

Oil rises as expanding US-Israeli conflict with Iran elevates supply risks

Oil prices jump, stocks skid on Middle East turmoil

Oil prices jump, stocks skid on Middle East turmoil

Oil prices edge lower after US, Iran extend talks

Oil prices edge lower after US, Iran extend talks

Oil climbs as US-Iran tensions keep supply risks in focus

Oil climbs as US-Iran tensions keep supply risks in focus

Oil prices hover near seven-month highs ahead of US-Iran talks

Oil prices hover near seven-month highs ahead of US-Iran talks

Oil slides on Iran nuclear talks, fresh US tariff uncertainty

Oil slides on Iran nuclear talks, fresh US tariff uncertainty

Oil prices rise as Trump puts time limit on Iran stand-off

Oil prices rise as Trump puts time limit on Iran stand-off

Oil drifts ahead of US-Iran nuclear talks

Oil drifts ahead of US-Iran nuclear talks

Oil prices rise on concerns about US-Iran tensions

Oil prices rise on concerns about US-Iran tensions

Oil holds steady as US–Iran tensions provide support

Oil holds steady as US–Iran tensions provide support

Oil drifts lower as traders weigh supply risks amid US–Iran tensions

Oil drifts lower as traders weigh supply risks amid US–Iran tensions

Oil drops as US, Iran pledge to continue talks

Oil drops as US, Iran pledge to continue talks

OpenAI unveils AI agent service as part of push to attract businesses

OpenAI unveils AI agent service as part of push to attract businesses

Oil extends decline ahead of US-Iran talks

Oil extends decline ahead of US-Iran talks

Russia's Putin and Saudi crown prince discuss work of OPEC+, Kremlin says

Russia's Putin and Saudi crown prince discuss work of OPEC+, Kremlin says

Oil prices fall by 3% on US-Iran de-escalation

Oil prices fall by 3% on US-Iran de-escalation

Diesel prices up by Rs6 per litre, petrol stay steady

Diesel prices up by Rs6 per litre, petrol stay steady

Mari Petroleum strikes oil and gas in Sindh's Ghotki district

Mari Petroleum strikes oil and gas in Sindh's Ghotki district

Petrol prices raised by Rs4.07, diesel by Rs4.04 per litre

Petrol prices raised by Rs4.07, diesel by Rs4.04 per litre

Diesel price slashed by Rs3 per litre, petrol's kept unchanged

Diesel price slashed by Rs3 per litre, petrol's kept unchanged

Fuel prices likely to be revised for next 15 days

Fuel prices likely to be revised for next 15 days

Pakistan to import US crude oil for the first time in October

Pakistan to import US crude oil for the first time in October

Crackdown launched on smoke-emitting trucks and buses across Punjab

Crackdown launched on smoke-emitting trucks and buses across Punjab

Miftah Ismail criticises govt's policy in dealing with IMF

Miftah Ismail criticises govt's policy in dealing with IMF

OPEC plus rolls over oil policy, ditches US government data

OPEC plus rolls over oil policy, ditches US government data

Oil retreats slightly after boost from US crude draw, Russia sanctions

Oil retreats slightly after boost from US crude draw, Russia sanctions

Oil set for weekly gains on colder weather, Chinese policy support

Oil set for weekly gains on colder weather, Chinese policy support

Oil set for annual loss although buoyed on the day by China data

Oil set for annual loss although buoyed on the day by China data

Russian region declares emergency situation as Black Sea oil spill fallout widens

Russian region declares emergency situation as Black Sea oil spill fallout widens

Oil steady as markets weigh Fed rate cut expectations, Chinese demand

Oil steady as markets weigh Fed rate cut expectations, Chinese demand

Iraq, Saudi, Russia stress need for stable oil market

Iraq, Saudi, Russia stress need for stable oil market

Iran's president says subsidised fuel prices are irrational

Iran's president says subsidised fuel prices are irrational

JI Emir Hafiz Naeem hopeful of successful strike today

JI Emir Hafiz Naeem hopeful of successful strike today

Oil falls on weak China demand concerns, Mideast ceasefire talks

Oil falls on weak China demand concerns, Mideast ceasefire talks

Oil settles at one-month low on Gaza ceasefire hopes

Oil settles at one-month low on Gaza ceasefire hopes

Govt all set to drop another petrol bomb on inflation-battered people

Govt all set to drop another petrol bomb on inflation-battered people

Oil settles 1pc lower as Mideast ceasefire talks ease supply disruption concerns

Oil settles 1pc lower as Mideast ceasefire talks ease supply disruption concerns

Oil prices up over 3pc for the week

Oil prices up over 3pc for the week

Oil up 4pc for the week after solid demand forecasts

Oil up 4pc for the week after solid demand forecasts

Oil down for third week on a row amid deflated US rate cut expectations

Oil down for third week on a row amid deflated US rate cut expectations

Oil on a slide despite extension in OPEC+ production cuts

Oil on a slide despite extension in OPEC+ production cuts

OPEC+ extends oil production cuts deep into 2025

OPEC+ extends oil production cuts deep into 2025

Oil down ahead of OPEC+ meeting, posts weekly loss

Oil down ahead of OPEC+ meeting, posts weekly loss

Petroleum prices to go down? Iran plans to raise oil output to 4m barrels per day

Petroleum prices to go down? Iran plans to raise oil output to 4m barrels per day

Oil gains 1pc on hopes of firmer demand

Oil gains 1pc on hopes of firmer demand

Chinese companies win more bids to explore for Iraq oil and gas

Chinese companies win more bids to explore for Iraq oil and gas

Iraq won't agree to new OPEC+ oil production cuts: Minister

Iraq won't agree to new OPEC+ oil production cuts: Minister

Iraq hopes oil reserves will exceed 160 bn barrels

Iraq hopes oil reserves will exceed 160 bn barrels

Oil falls on prospect of higher-for-longer US interest rates, stronger dollar

Oil falls on prospect of higher-for-longer US interest rates, stronger dollar

Oil down on rising US stockpiles, cautious supply expectations

Oil down on rising US stockpiles, cautious supply expectations

Petrol demand growth to slow this year on higher EV sales in China, US

Petrol demand growth to slow this year on higher EV sales in China, US

Oil down over 7pc for the week -- the steepest loss in three months

Oil down over 7pc for the week -- the steepest loss in three months

Oil falls for a third day amid easing Middle East tensions, increased production

Oil falls for a third day amid easing Middle East tensions, increased production

Oil prices up for the week on supply concerns, but economic woes subdue gains

Oil prices up for the week on supply concerns, but economic woes subdue gains

Russia cuts oil price forecast to $65 per barrel in 2024-27

Russia cuts oil price forecast to $65 per barrel in 2024-27

Refineries against fuel price deregulation which Ogra says will boost competition

Refineries against fuel price deregulation which Ogra says will boost competition

Oil down over 3pc during the week despite Israel-Iran tensions

Oil down over 3pc during the week despite Israel-Iran tensions

Oil posts weekly loss after nearing a six-month high

Oil posts weekly loss after nearing a six-month high

Pakistan consumers may face the brunt as oil prices up over 4pc in a week

Pakistan consumers may face the brunt as oil prices up over 4pc in a week

OPEC oil output falls in March, led by Iraq

OPEC oil output falls in March, led by Iraq

Saudi oil giant Aramco profit stood at $121bn last year, down from 2022 record

Saudi oil giant Aramco profit stood at $121bn last year, down from 2022 record

Oil posts nearly 2pc weekly loss as markets weigh Chinese demand

Oil posts nearly 2pc weekly loss as markets weigh Chinese demand

OPEC+ oil output cuts extended to second quarter

OPEC+ oil output cuts extended to second quarter

Oil makes more weekly gains as OPEC+ is expected to continue production cuts

Oil makes more weekly gains as OPEC+ is expected to continue production cuts

Brent down 2pc, WTI falls over 3pc as US rate cut hopes dim

Brent down 2pc, WTI falls over 3pc as US rate cut hopes dim

Greek farmers take tractors to Athens

Greek farmers take tractors to Athens

Brent and WTI prices up for the week amid Middle East tensions

Brent and WTI prices up for the week amid Middle East tensions

Petrol price up by Rs2.73 per litre

Petrol price up by Rs2.73 per litre

Shell expects 50pc rise in LNG demand by 2040

Shell expects 50pc rise in LNG demand by 2040

Oil little changed as demand concerns offset Middle East tensions

Oil little changed as demand concerns offset Middle East tensions

India will be world's biggest oil demand growth driver through 2030

India will be world's biggest oil demand growth driver through 2030

Oil, gas and IT stocks lead rise in Indian shares

Oil, gas and IT stocks lead rise in Indian shares

Saudi Arabia orders Aramco to lower oil capacity target

Saudi Arabia orders Aramco to lower oil capacity target

Oil record weekly gain over Middle East tensions, global economy woes

Oil record weekly gain over Middle East tensions, global economy woes

Oil prices down for the week despite Red Sea developments

Oil prices down for the week despite Red Sea developments

Oil prices rise 2pc after US, Britain strikes in Yemen

Oil prices rise 2pc after US, Britain strikes in Yemen

Saudi Arabia saying good bye to oil?

Saudi Arabia saying good bye to oil?

Rising prices cap India's thirst for Russian oil

Rising prices cap India's thirst for Russian oil

Oil falls over 3pc as Saudi price cuts add to demand doubts

Oil falls over 3pc as Saudi price cuts add to demand doubts

Brent up $1.74, WTI $2.16 during the week amid Middle East tensions

Brent up $1.74, WTI $2.16 during the week amid Middle East tensions

Oil prices rise on Middle East tensions

Oil prices rise on Middle East tensions

Oil prices shed 10pc in 2023 as supply, demand concerns weigh

Oil prices shed 10pc in 2023 as supply, demand concerns weigh

Oil continues slipping as ships return to Red Sea

Oil continues slipping as ships return to Red Sea

Payment woes delay supply of Russian Sokol oil to India

Payment woes delay supply of Russian Sokol oil to India

Russia exports almost all its oil to China and India

Russia exports almost all its oil to China and India

Oil steadies as investors eye Middle East tensions and US rate cut

Oil steadies as investors eye Middle East tensions and US rate cut

Congo reaffirms commitment to OPEC

Congo reaffirms commitment to OPEC

First output from Venezuela's Dragon gas field expected in 2 years

First output from Venezuela's Dragon gas field expected in 2 years

Oil posts around 3pc weekly gain as Red Sea attacks increase shipping costs

Oil posts around 3pc weekly gain as Red Sea attacks increase shipping costs

Angola leaves OPEC, in blow to producer group

Angola leaves OPEC, in blow to producer group

ING to ditch upstream oil and gas by 2040

ING to ditch upstream oil and gas by 2040

OPEC+ influence is waning as prices flag despite oil production cuts

OPEC+ influence is waning as prices flag despite oil production cuts

Saudi Arabia's crude exports rise to four-month high in October

Saudi Arabia's crude exports rise to four-month high in October

Oil edges lower as US launches Red Sea task force

Oil edges lower as US launches Red Sea task force

Oil rises on Red Sea jitters, ample supply weighs

Oil rises on Red Sea jitters, ample supply weighs

US-Europe to talk Russia oil price cap enforcement

US-Europe to talk Russia oil price cap enforcement

India to buy Venezuelan oil

India to buy Venezuelan oil

Oil manages to escape weeks-long streak of losses with slight gains

Oil manages to escape weeks-long streak of losses with slight gains

Oil slips as weak sentiment counters Middle East tensions

Oil slips as weak sentiment counters Middle East tensions

Oil prices hold steady, propped up by US purchases

Oil prices hold steady, propped up by US purchases

Oil down for seventh consecutive week, Brent settles at $75.84

Oil down for seventh consecutive week, Brent settles at $75.84

China oil demand seen peaking by 2030

China oil demand seen peaking by 2030

Oil falls 4pc as build in gasoline stocks fuel demand concerns

Oil falls 4pc as build in gasoline stocks fuel demand concerns

How would Canada's proposed oil and gas emissions cap work?

How would Canada's proposed oil and gas emissions cap work?

Oil prices continue slipping amid global economic uncertainty

Oil prices continue slipping amid global economic uncertainty

US, allies pressure Liberia, Marshall Islands, Panama over Russia oil sanctions

US, allies pressure Liberia, Marshall Islands, Panama over Russia oil sanctions

Oil prices well below $80, fall more than 2pc despite OPEC+ cuts

Oil prices well below $80, fall more than 2pc despite OPEC+ cuts

Canada's oil province Alberta forecasts increased C$5.5 billion budget surplus

Canada's oil province Alberta forecasts increased C$5.5 billion budget surplus

India's oil imports from Russia

India's oil imports from Russia

Oil inches up, all eyes on OPEC+ meeting

Oil inches up, all eyes on OPEC+ meeting

Gabon seeks to preempt $1.3 bln sale of Carlyle's oil business

Gabon seeks to preempt $1.3 bln sale of Carlyle's oil business

Currency clashes sour Russia's oil trade with Asia

Currency clashes sour Russia's oil trade with Asia

Oil prices: Brent down 1pc, WTI decline 2pc to close the week

Oil prices: Brent down 1pc, WTI decline 2pc to close the week

Oil retreats on caution ahead of OPEC meeting

Oil retreats on caution ahead of OPEC meeting

China resumed storing crude oil

China resumed storing crude oil