Oil & Gas Industry News

Saudi Aramco is preparing a new selling price for oil loaded at Egypt's Mediterranean port of Sidi Kerir for delivery to Asia.

Oil prices surged after renewed military action between the US and Iran reignited concerns over Middle East energy supplies.

President Donald Trump said the U.S. would hit Iran hard after a recent attack that targeted a military base in Jordan.

In a statement sent to Rigzone this week, Wood Mackenzie said the oil and gas industry is 'cash rich but capital cautious'.

Why is oil up today?

Crude futures posted their biggest three-day decline since 2020 as hopes for diplomacy with Iran reduced supply concerns.

North America added five rigs week on week, according to Baker Hughes' latest North America rotary rig count.

Trump has signaled support for the measure, which had been championed by the late Senator Lindsey Graham.

Oil prices dropped yesterday and today as the market rapidly stripped out its Iran war premium, Petros Pantzari, Chief Dealer at Monaxa, said.

Tributes have poured in for Sir Ian Wood following news that the Aberdeen-based businessman has passed away.