Oil & Gas Industry News

OPEC revealed that it held meetings with the second and third biggest oil consumers in the world.

More than 100 oil and gas firm executives revealed where they expect the WTI crude oil price to be at various points in the future in the third quarter Dallas Fed Energy Survey.

Brent is once again toiling around $100 per barrel as its reasons for trading much beyond the psychological three-digit mark are being eroded, PVM Oil Associates Analyst John Evans said.

Crude prices declined as Saudi Arabia cut Asian prices and Hormuz oil flows improved.

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

'Until Hormuz fully re-opens and confidence returns, the crude reality is that pressure at both ends of the barrel will intensify', Aramco Chief Executive Amin Nasser said.

A statement posted on OPEC's website revealed Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman's production plan for next month.

The transits are a lifeline to gulf energy producers and a boon to shipowners and commodity traders who stand to reap billions of dollars from the trade.

Diesel and oil prices fell as G7 nations moved to release emergency supplies.

Commercial crude oil stocks, not including the SPR, came in at 427.320 million barrels on September 25, the EIA's latest weekly petroleum status report showed.