NEW DELHI/LONDON (Reuters) – U.S.-led international sanctions on Russia have begun to erode the dollar’s decades-old dominance of international oil trade as...
By: The New York Times – New intelligence reviewed by U.S. officials suggests that a pro-Ukrainian group carried out the attack on...
By: Reuters – U.S. energy executives and top OPEC officials on Monday discussed concerns about a lack of spare oil production capacity...
By – Reuters – Environmental groups sued the Biden administration on Monday to block the sale of oil and gas drilling rights...
By: Reuters – Guyana, the South American country that is home to the world’s largest oil discoveries in a decade, next wants...
Story from Michael Kern at OilPrice.com. Natural gas is a fossil fuel that has been used for centuries to power homes, businesses,...
By: Reuters – Oil prices slumped on Friday after the Wall Street Journal reported that the United Arab Emirates had an internal...
[Reuters] Deutsche Bank on March 2 tightened its coal financing policies but has yet to change its criteria for the oil and...
By: Evening Standard – US President Joe Biden is facing a dilemma in the fight over a large-scale oil project in Alaska. The Biden administration is...
By: Forbes – Calgary-based Baytex Energy Corp. announced on Tuesday that is has agreed to acquire Eagle Ford Shale pure-play Ranger Oil Corp....
(Reuters) - Oil prices rose nearly 2% on Monday as signs of strong demand more than offset the impact of a higher-than-expected OPEC+ output hike for August and fresh concerns about the potential impact of U.S. tariffs.
Brent crude futures settled up $1.28, or 1.9%, at $69.58. U.S. West Texas Intermediate crude settled up 93 cents or 1.4%, at $67.93. Early in the session, Brent had fallen as low as $67.22 and WTI's session low was $65.40.
"The supply picture definitely looks to be elevating; however, the stronger demand is remaining above expectations as well," said Dennis Kissler, senior vice president of trading at BOK Financial.
Travel industry statistics released last week showed that a record number of Americans had planned to travel for the Fourth of July holiday by road and air.
On Saturday, the Organization of the Petroleum Exporting Countries and allies in OPEC+ agreed to raise production by 548,000 barrels per day in August, exceeding the 411,000-bpd hikes they made for the prior three months.
The OPEC+ decision will bring nearly 80% of the 2.2 million-bpd voluntary cuts from eight OPEC producers back into the market, RBC Capital analysts, led by Helima Croft, said in a note.
However, the actual output increase has been smaller than planned so far and most of the supply has been from Saudi Arabia, analysts said.
U.S. stocks ended lower on Monday after President Donald Trump released letters to trading partners including Japan, South Korea, Laos and Myanmar, announcing tariffs ranging from 25% to 40%.
The Dow Jones Industrial Average went down 422.17 points or 0.9% to close at 444,06.36, recording its largest one-day point and percentage decline since June 13.
The S&P 500 fell 49.37 points or 0.8% to finish at 6,229.98, snapping its back-to-back gains.
The Nasdaq Composite declined 188.59 points or 0.9% to end at 20,412.52, also snapping back-to-back gains.
Bill Armstrong isn’t following the industry playbook. As U.S. shale producers consolidate and shrink...
Haynesville Gas Takeaway Grows With Leg Pipeline Launch (P&GJ) — Williams Companies has placed its...
Yuka Obayashi and Katya Golubkova | TOKYO (Reuters) -U.S. President Donald Trump said on...
By Charles Kennedy for Oilprice.com | Shell and other major energy players have withdrawn...
Merger and acquisition activity in the U.S. upstream oil and gas sector slowed significantly...
by Andreas Exarheas| RIGZONE.COM | Chevron will “consolidate or eliminate some positions” as part of...
The U.S. oil and gas industry is riding a line between productivity and paralysis....
The newly unveiled U.S.–EU energy framework, announced during the July 27–28 summit in Brussels,...
By Haley Zaremba for Oilprice.com | The United States electric vehicle industry is facing...
(Reuters) – U.S. gasoline demand in May fell to the lowest for that month...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Have your oil & gas questions answered by industry experts.