The latest oil and gas news from around the world.
Updated: 3 min 35 sec ago
Reliance Gets USA License to Directly Buy VEN Crude
Reliance has historically been an important consumer of the country's heavy crude.
EIA Raises 2026 WTI Forecast, Lowers 2027 Projection
The EIA now sees the WTI spot price averaging $53.42 per barrel this year.
Some OPEC+ Members See Scope to Resume Hikes in April
Some OPEC+ members see scope for the alliance to resume supply increases in April.
ADNOC Drilling Delivers 'Best Year on Record'
ADNOC Drilling said it had delivered its 'best year on record with 2025 net profit of $1.45 billion'.
Market Positioning Itself for Period of Higher Geopolitical Risk
'This is evident in both the gradual push higher in flat price, adjustments in the forward curve and volatility skew', Standard Chartered Bank Energy Research Head Emily Ashford said.
Oil Trading Giants Say Sanctions Driving Up Prices
A ramp-up of sanctions pressure on Russia and Iran has tightened the screws on flows from the two nations over the past few months.
Oil Drops Amid Supply And Equity Jitters
Oil prices fell as investors turned cautious on Iran risks and weaker equities.
ADNOC May Expand LNG Tanker Fleet
Abu Dhabi National Oil Co.'s shipping arm is evaluating the purchase of liquefied natural gas tankers.
Global Exploration Signaling 'Early Recovery'
Global exploration is signaling an 'early recovery', according to Enverus Intelligence Research.
Ukraine Strikes 2nd Lukoil Refinery in Russia This Week
Ukrainian drones hit another Russian refinery owned by Lukoil PJSC.
USA Crude Oil Stocks Rise More Than 8MM Barrels WoW
Crude oil stocks, not including the SPR, stood at 428.8 million barrels on February 6, according to the EIA's latest weekly petroleum status report.
USA Labor Market Report Underpins Energy Demand
Rystad Energy outlined that the January U.S. labor market report 'surprise[d]... to the upside, underpinning energy demand'.
Crude Glut Is a Boon for USA Refiners
For U.S. refiners, the glut is proving a windfall.
Wright Says China Bought Some VEN Oil From the USA
China has bought some Venezuelan oil that was purchased earlier by the U.S., according to Energy Secretary Chris Wright.
Oil Gains As Middle East Tensions Rise
Traders balanced Iran uncertainty against growing inventories.
TotalEnergies Cuts Buyback to Lower End of Range
TotalEnergies SE trimmed its share buybacks to the lower end of its guidance range.
Ukraine Hits Lukoil Refinery
Ukraine attacked an oil refinery in Russia's Volgograd region.
EIA Sees Brent Price Dropping in 2026 and 2027
The U.S. Energy Information Administration projected that the average Brent spot price will drop in 2026 and 2027.
OPEC Says Oil Production Declined Last Month
OPEC+ oil production declined sharply last month amid losses in Kazakhstan, Venezuela and Iran, the group said.
EIA Fuel Update Shows Increasing Price Trend for USA Gasoline
The U.S. Energy Information Administration's latest gasoline fuel update showed an increasing trend for the U.S. regular gasoline price.
