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The history of the global oil and gas industry is inextricably linked to the Organization of the Petroleum Exporting Countries aka OPEC

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US producers set their sights on Canada's Montney Shale
With high-quality US shale assets in short supply, US oil and natural...
With high-quality US shale assets in short supply, US oil and natural gas producers are increasingly looking north to Canada's Montney Shale for growth opportunities. The Montney accounts for roughly half of Canada's natural gas output and captured $6.23 billion, or 28%, of Canadian upstream deal value this year, with US operators and private equity players among the buyers. Enverus estimates the basin holds more than 45 years of drilling inventory at current development rates, compared with just over a decade in the Permian, while acreage costs remain far lower.
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The US pursued a third oil tanker off the coast of Venezuela
After seizing a second oil tanker this month on Saturday, a...
After seizing a second oil tanker this month on Saturday, a US Coast Guard official told multiple outlets on Sunday that the third one was “a sanctioned dark fleet vessel that is part of Venezuela’s illegal sanctions evasion” and that it was flying a false flag, though the statement was provided anonymously. Last week, President Trump ordered a “total and complete blockade” on oil tankers under sanctions entering or leaving Venezuela in an attempt to put pressure on Venezuelan President Nicolás Maduro, whom the Trump administration wants to force out of office. Experts say cutting off Venezuela’s oil trade could devastate its economy. Trump has accused Maduro of using oil to finance “Drug Terrorism,” which Maduro denied. The US has not imposed sanctions on Venezuelan oil.
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☕️What Else is Brewing Monday Morning
Thousands of people flocked to Stonehenge to celebrate the winter...
Thousands of people flocked to Stonehenge to celebrate the winter solstice. There went the sun. Yesterday, the shortest day of the year, saw thousands of visitors gather at the prehistoric stone circle, built to align with the sun at the solstices. The site in Wiltshire, England, announced it had sold out of parking for its annual event and encouraged would-be revelers to tune in to livestreams. Many attendees gathered before dawn for what they consider a spiritual experience. Why get happy over the longest night of the year? Because in the Northern Hemisphere, it means every day from here until June 21 will get a little brighter.

A Russian general was killed in Moscow by a bomb that detonated underneath his car.

James Ransone, the actor best known for his work on The Wire and It Chapter Two, died on Sunday at age 46.

Israel’s Cabinet approved 19 new Jewish settlements in the West Bank. Settlements are widely considered illegal under international law.

Google, Apple, and Microsoft warned some visa-holding employees not to travel outside the US due to delays at embassies, according to Business Insider.

New York Gov. Kathy Hochul signed a major AI safety bill into law, a week after President Trump signed an executive order to override state AI laws.

Volkswagen canceled plans to bring its rebooted EV minibus to the United States next year, following the sharp decline in electric vehicle sales.

Engineer Michaela Benthaus, who is paraplegic, became the first wheelchair user in space following a Blue Origin flight on Saturday.
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Baker Hughes: US oil rig count down by 8 to 406
The number of oil rigs in the United States stood at...
The number of oil rigs in the United States stood at 406 in the week ending December 19, dipping by eight from the previous week, according to the Baker Hughes weekly rig count released on Friday. The rig count fell by 77 on an annual basis.

The US gas rig count remained unchanged at 127 in the reported week, and increased by 25 compared to the same period last year. The total number of rigs in the country currently stands at 542, down by six from last week and slipping by 47 from the previous year.
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DAILY OIL PRICE: December 19, 2025
Crude Oil: 56.66 (+0.51)....
- Crude Oil: 56.66 (+0.51).
- Nymex MTD AVG: 57.9281.
- Natural Gas: 3.984 (+0.076).
- Gasoline: 1.7082 (+0.0069).
- Spreads: January/February (+0.14) February/March (+0.16).
- Plains WTI Posting: 53.14 (+0.51).
Source: Odessa American
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