Oklahoma’s state revenues have been notably impacted by a decline in Gross Production Taxes, which are levied on oil and gas production....
Bloomberg News, via RigZone.com | China will see oil demand growth slowing next year, casting a pall over an already disappointing global...
Exxon Mobil (XOM.N) has outlined a steady investment strategy, aiming for an annual project expenditure of $22 billion to $27 billion through...
The U.S. Environmental Protection Agency (EPA) announced a pivotal climate regulation on Saturday, mandating significant methane emission reductions from oil and gas...
Venezuelan President Nicolás Maduro has directed state-owned enterprises to begin immediate exploration and exploitation of oil, gas, and minerals in Guyana’s Essequibo...
Occidental Petroleum is in advanced talks to acquire CrownRock, a prominent private oil producer in the US shale sector, specifically in the...
Story By Jerry Bohnen |OK Energy Today| Last week, AAA raised the question…”Is it the end of the road for falling gas...
As Dubai’s glittering skyline plays host to global leaders at COP28, the United Nations’ pivotal climate summit, a heated debate unfolds, not...
Story By Shelly Hagan|Bloomberg via RigZone.com| A Texas oil heir’s quest to make Dallas a hub for biotech is showing signs of...
DUBAI, United Arab Emirates (AP) — Commercial ships came under attack Sunday by drones and missiles in the Red Sea and a...
(Reuters)- Oil prices edged higher on Tuesday as investors took stock of positive demand indicators, while also treading cautiously ahead of an OPEC+ meeting to decide the group's August output policy.
Brent crude settled up 37 cents, or 0.6%, at $67.11 a barrel, while U.S. West Texas Intermediate crude settled 34 cents higher, or up around 0.5%, at $65.45 a barrel.
The gains were likely due to supportive data from a private-sector survey in China, which showed factory activity returned to expansion in June, said Randall Rothenberg, a risk intelligence expert at U.S. oil brokerage Liquidity Energy.
Expectations that Saudi Arabia will raise its August crude oil prices for buyers in Asia to a four-month high as well as firm premiums for Russian ESPO Blend crude oil were also supporting the notion of robust demand, Rothenberg said.
Oil's gains were kept in check by expectations that the OPEC+ group will boost its August crude oil output by an amount similar to the outsized hikes agreed in May, June, and July. Four OPEC+ sources told Reuters last week the group plans to raise output by 411,000 barrels per day next month when it meets on July 6.
U.S. stocks finished mixed on Tuesday to kick off the second half of the year, as investors began rotating out of megacap technology names and into cyclical sectors amid a broader market rally.
The Dow Jones Industrial Average rose 0.9%, to finish near 44,495, according to preliminary data from FactSet. The blue-chip index has risen for four straight trading days.
The S&P 500 was off 0.1%, to end at around 6,198.
The Nasdaq Composite fell 0.8%, ending near 20,202.
The S&P 500's information-technology and communication-services sectors were the only two of the index's 11 sectors to end in the red on Tuesday, while the materials sector advanced 2.3% and the healthcare sector was up 1.4%, according to FactSet data.
Earlier in the day, Senate Republicans narrowly approved President Donald Trump's signature tax-and-spending package. The vote was 51-50, with Vice President J.D. Vance casting the tie-breaking vote.
The sweeping bill must now pass the House of Representatives before heading to the president’s desk.
Federal Reserve Chair Jerome Powell also said on Tuesday morning that the U.S. central bank is still going "meeting by meeting" in its approach to interest-rate decisions. But he didn’t directly acknowledge whether or not a potential rate reduction at the end of this month would be too soon.
Wildfires are scorching parts of southern Europe as a lingering heat wave bakes swaths of the continent, prompting health alerts and evacuations.
by Andreas Exarheas | RigZone.com |In a release sent to Rigzone this week, Enverus announced...
Story By Andreas Exarheas | RigZone.com |The U.S. Energy Information Administration (EIA) revealed its...
By a 6–0 vote, the Texas Supreme Court has handed a major victory to...
The U.S. Interior Department has proposed a major rule change that could reshape onshore...
Story By Andreas Exarheas| RigZone.com |Executives from oil and gas firms have revealed where...
The oil and gas sector is undergoing a major digital overhaul, and data is...
By Tsvetana Paraskova for Oilprice.com | Equinor and its partners have decided to invest...
Global energy markets are watching a delicate balancing act unfold. Between renewed signals of...
(Reuters) -An $88 million satellite backed by billionaire Jeff Bezos that detected oil and...
🟢 OPEC+ surprised markets by announcing a larger-than-expected August output hike of...
Energy Exploration Technologies Inc. (EnergyX) has struck a major deal to expand its position...
Have your oil & gas questions answered by industry experts.