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Russia, a key player in the oil industry, has recently announced plans to reduce its oil exports from western ports by approximately...
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By: Reuters – Global oil benchmark Brent hovered above $80 a barrel on Thursday after U.S. inflation data implied interest rates in...
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Story By Jov Onsat |RigZone| Libya’s oil revenue excluding royalties and fuel sales slid to around $7 billion (LYD 33.4 billion) for...
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On July 7, the US Department of Energy (DOE) revealed its intention to repurchase approximately 6 million barrels of sour crude oil....
U.S. energy firms cut the number of oil and natural gas rigs operating for a sixth week in a row for the first time since September 2023, energy services firm Baker Hughes (BKR.O) said in its closely followed report on Friday.
The total oil and gas rig count, an early indicator of future output, fell by four to 559 in the week to June 6, the lowest since November 2021. Oil rigs fell by nine to 442 this week, while gas rigs rose by five to 114.
Total rig counts in the Permian Basin in West Texas and eastern New Mexico, the Eagle Ford in South Texas and in the state of Texas all fell this week to their lowest levels since November 2021. Oklahoma dropped 2 rigs, now with 50 rigs running.
U.S. stocks closed sharply higher on Friday, with the Dow Jones Industrial Average erasing its 2025 loss as investors weighed a stronger-than-expected jobs report.
The Dow rallied 443.13 points Friday, or 1%, to end at 42,762.87.
The S&P 500 gained 61.06 points, or 1%, to close at 6,000.36.
The Nasdaq Composite climbed 231.50 points, or 1.2%, to finish at 19,529.95.
Friday marked the first time since Feb. 21 that all three equities benchmarks closed in positive territory on a year-to-date basis, according to Dow Jones Market Data. The S&P 500 ended 2.3% below its record closing peak notched Feb. 19.
The U.S. economy added 139,000 jobs in May while the unemployment rate remained unchanged at 4.2%, according to a report Friday from the Bureau of Labor Statistics. The pace of job growth slowed last month, but the total number of jobs created was stronger than Wall Street expected.
All three major U.S. stock-market benchmarks booked back-to-back weekly gains, with investors appearing encouraged by President Donald Trump’s phone call this week with China’s leader Xi Jinping about trade. The Dow rose 1.2% for the week, while the S&P 500 advanced 1.5% and the technology-heavy Nasdaq rallied 2.2%.
Presidio Petroleum is preparing to enter the public markets through a strategic merger with...
By Adam Smeltz | UNIVERSITY PARK, Pa. – Oil produced from shale reservoirs drove...
Trying to catch up in oil and gas production is difficult enough. It becomes...
Hart Energy, via Yahoo News | Occidental Petroleum [OXY • NYSE] is selling off...
Author Mark Davidson, Washington|Editor–Everett Wheeler|Energy Intelligence Group| The number of active US gas rigs...
Fossil fuel financing by Wall Street’s leading banks has declined sharply in 2025, highlighting...
Key Highlights Global oil inventories are expected to grow more than 2 million b/d...
The race to lower costs and accelerate production timelines in the Permian Basin has...
Mexico’s energy story has turned again. After years of political resistance to hydraulic fracturing,...
by Bloomberg, via RigZone.com|Weilun Soon, Rakesh Sharma, Reporting| At least four tankers discharged millions...
By Andreas Exarheas | RigZone.com |The U.S. Energy Information Administration (EIA) cut its West...
˃ Financing from the six largest Wall Street banks for oil, gas, and coal...
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