Middle East oil and gas operators will need to be vigilant about the risk of cyberattacks as the Israel-Gaza conflict continues, security experts warn, or else risk energy supply disruption globally.
LONDON: Oil prices tanked 4 percent on Wednesday as OPEC+ producers unexpectedly delayed a meeting on output planned for Sunday, raising questions about the future course of crude production cuts.
Newly released data from the Texas Workforce Commission (TWC) indicates that upstream oil and natural gas employment grew by an additional 2,200 jobs in October, the Texas Oil & Gas Association (TXOGA) noted in a statement sent to Rigzone recently.
Brent crude futures rose 14 cents, or 0.17%, to US $82.59 a barrel by 0800 GMT. U.S. West Texas Intermediate crude futures rose 13 cents, or 0.17%, to US $77.90
Oil prices crashed by 4% early on Wednesday morning after confirmation that this weekend’s OPEC+ meeting would be postponed.
Chinese refiners face weaker domestic margins and are grappling with limited fuel export quotas.
EU countries exceeded their target to reduce gas consumption in the period from August 2022 to March 2023.
Crude oil prices moved lower today, after the U.S. Energy Information Administration reported a sizeable inventory build of 8.7 million barrels for the week to November 17.
The costs of decommissioning oil and gas platforms in the UK’s North Sea could overtake capital expenditure in the industry by 2040, a new report from Offshore Energies UK has suggested.
The Federal Government has warned gas producers to stop discouraging awardees in the gas flare commercialisation programme from embarking on the project