Oil & Gas Industry News

Oil rose as tight global supplies outweighed optimism over a potential US-Iran deal to reopen the Strait of Hormuz.

Commercial crude oil stocks, not including the SPR, came in at 426.39 million barrels on September 18, the EIA's latest weekly petroleum status report revealed.

Saudi Arabia has sold almost 100 million barrels of oil to Asian buyers since the middle of last week, according to traders familiar with the matter.

Amplitude Energy announced that one of its workers had passed away following a shark attack.

China's oil and gas demand outlook has weakened materially in 2026, analysts at BMI said.

Brent rose nearly 4% as tight fuel supplies, Hormuz risks and diesel export concerns drove trading.

The U.S. Energy Information Administration raised its U.S. crude oil production forecasts for both 2026 and 2027 in its latest short term energy outlook.

Imperial Oil Ltd came out against Alberta separatism.

The U.S.-Iran conflict has changed the definition of an available barrel, Ole Hvalbye, Partner at ABG Sundal Collier, told Rigzone.

Macquarie strategists, including Thierry Wizman, Global FX and Rates Strategist at Macquarie Group, noted that this was a 'critical week for oil'.