OPEC+ is likely to consider increasing oil output by 137,000 barrels per day (bpd) for April 2026, ending a three-month pause in hikes as they prepare for peak summer demand and navigate market share strategies
Supertanker rates to ship crude on the key Middle East-to-China route have surged to a six-year high as Persian Gulf supply to India soars and traders rush shipments to precede a potential U.S. military campaign in Iran, industry data and sources tell Reuters.
Russia’s pipeline operator Transneft has cut crude intake into its system by roughly 250,000 barrels per day after damage at the Kaleykino pumping station in Tatarstan, according to Reuters sources.
The American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 11.4 million barrels in the week ending February 20, after falling by 609,000 barrels in the week prior. Analysts had expected a smaller build of 1.85 million barrels.
In a statement sent to Rigzone on Monday, Saipem announced that it has been awarded an additional offshore contract in Saudi Arabia under its existing long-term agreement with Aramco.
The UK government announced new sanctions on Russia’s so-called shadow oil fleet as it ramped up efforts to squeeze energy revenues funding the Kremlin’s war in Ukraine.
ExxonMobil Corp. is betting the economic boom unleashed by its giant discovery in Guyana will give the company an edge when negotiating fiscal terms with other nations looking to develop their own oil and gas reserves.
Fears of a global oil glut that had been expected to crater crude prices are fading amid resilient energy demand, according to Permian basin driller Diamondback Energy Inc.
CH4 Systems LLC has formed a strategic alliance aimed at enabling U.S. energy companies to restore Venezuela’s oil and gas infrastructure under a U.S. governance framework.
State-held Kuwait Petroleum Corporation (KPC) is considering following in the footsteps of its Saudi and Abu Dhabi peers by tapping major international infrastructure investors to buy a stake in its crude oil pipeline network in a deal that could be valued at about $7 billion, sources with knowledge of the plan told Reuters.