The latest oil and gas news from around the world.
Updated: 36 min 30 sec ago
BMI Says Outlook for Oil Prices in Q3 Now Highly Uncertain
The outlook for oil prices in the third quarter of 2026 is now highly uncertain, analysts at BMI warned.
IMO SecGen Says Hormuz Is Too Dangerous for Ships
The International Maritime Organization said the Strait of Hormuz remains too dangerous for commercial vessels to transit.
Ukraine Says It Hit Russian Oil, Gas Tankers in Black Sea
Ukrainian forces hit multiple Russian vessels in the Black Sea overnight.
Oil Hits One-Month High
Oil climbed to a one-month high as renewed Middle East fighting heightened concerns over supplies through the Strait of Hormuz.
Vedanta Oil to Invest $5B to Boost Production Fivefold
Vedanta Oil and Gas Ltd. will invest $5 billion to expand production by more than five times.
Ukraine Hits Russian Refineries, Ships, Moscow Hits Odesa
Kyiv struck a slew of Russian energy targets overnight, while Moscow hit fuel facilities in the Ukrainian port of Odesa.
North America Drops Rigs for 1st Time in Months
North America's rig count dropped by 10 rigs week on week, according to Baker Hughes' latest North America rotary rig count.
Escalations Damage Hormuz Media Narrative
Escalations over the past week have damaged the media narrative that has built up over the past few weeks, Standard Chartered Bank Energy Research Head Emily Ashford told Rigzone.
Cross-Industry Group Issues Letter to Incoming UK Gov
A 'powerful' cross-industry group is delivering a 'strongly worded letter' to the incoming UK government, a statement sent to Rigzone by OEUK recently noted.
BP Flags $1B Writedown from Low Carbon Business
BP said it expects to write down another $1 billion from energy transition assets in the second quarter.
Houthis Strike Saudi Arabia in Major Escalation
The Iran-backed Houthi group in Yemen fired ballistic missiles and drones on Saudi Arabia.
Oil Soars on Hormuz Blockade
Oil surged after President Trump announced plans to reinstate a blockade on Iranian shipping and impose fees on cargo moving through the Strait of Hormuz.
Russian Refinery Runs Plunge to Lowest in More Than 2 Decades
A wave of Ukrainian attacks has pushed Russian refining runs to the lowest in more than 21 years.
UAE Tells OPEC Its Oil Production Surged Last Month
The United Arab Emirates informed OPEC that its oil production surged by 80 percent last month.
USA Strategic Petroleum Reserve is 56 Percent Empty
Or 44 percent full - depending on how you want to look at it.
South Africa Plans First Oil Reserves Boost Since Apartheid
South Africa plans to increase its strategic oil reserves for the first time since the apartheid government stockpiled crude.
Falling Fertility Threatens Energy Demand, WoodMac Warns
Falling fertility rates threaten long term energy demand, Wood Mackenzie warned.
Oil Jumps After Battle for Hormuz Control Escalates
'Fresh strikes by U.S. and Iran renewed concerns about the safe passage of oil and other key commodities through the narrow waterway', Saxo Bank said.
USA, Iran Trade Fresh Strikes
The U.S. and Iran exchanged fresh strikes overnight into Monday as they continued their tit-for-tat attacks.
TotalEnergies Sells Small-Scale Solar Assets in Europe
The sale is part of TotalEnergies' efforts 'to refocus its renewable development on large utility-scale solar and wind farms in order to benefit from economies of scale', the French energy giant said.
