Oil & Gas Industry News

'Seven OPEC+ countries ... met virtually on 2 August 2026, to review global market conditions and outlook', a statement posted on OPEC's site highlighted.

'Daily price movements are likely to remain sensitive to political rhetoric and developments', Carole Nakhle, Chief Executive Officer of Crystol Energy, told Rigzone.

Oil finished July with its strongest monthly gain since March as geopolitical conflicts raised concerns about global crude supplies.

'S.5039 reauthorizes a long-standing policy that is an important framework for federal land producers', Dan Naatz, IPAA EVP and Chief Policy Officer, said.

Both Brent and West Texas Intermediate oil prices were down on Friday but still on track for notable monthly gains, Naeem Aslam, CIO at Zaye Capital Markets, outlined.

Oil loadings by Saudi Arabia and other major producers inside the Persian Gulf remained subdued.

Oil prices fell as increased shipping through the Strait of Hormuz offset escalating geopolitical tensions.

Eni announced that it is opening up its supercomputing capabilities to the 'innovation ecosystem'.

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.