Oil & Gas Industry News

Oil fell over 2% as a key technical breach and potential Iraqi supply increase pressured prices, while OPEC+ considers delaying production hikes.

The U.S. continues to pursue the mineral deal.

'Two Pemex workers were evacuated from the platform, due to a possible stress scenario resulting from the incident', Pemex said.

The EU trade chief said talks with the US at this stage are aimed at finding common ground and building momentum.

Oil prices extended modest gains above $72 as supply concerns, a weaker dollar, and refinery shifts influenced market sentiment, while trading remained rangebound amid investor caution.

'LNG and LPG carriers have shown the most severe impact', Dryad Global said.

Oil prices climbed as supply uncertainties from OPEC+, Russia, and Kazakhstan, along with geopolitical tensions and technical support levels, drove crude higher.

The global energy market needs trilateral discussions between Russia, the US and Saudi Arabia, said President Vladimir Putin.

According to its February STEO, the EIA sees the WTI spot price averaging $70.62 per barrel in 2025.

Rigzone talks to Dave Mount, Executive Vice President of Louisiana-based OneSource Professional Search, and Brian Binke, the President and CEO of Michigan based the Birmingham Group.