Oil & Gas Industry News

Saudi Arabia cut its main crude oil price as some Persian Gulf producers continue to send barrels through the Strait of Hormuz.

Enverus Intelligence Research announced that U.S. upstream merger and acquisition activity slowed in the second quarter.

There has been one constant through it all, the S&P Global Energy Crude Oil Markets team outlined.

A growing flotilla of Iranian oil tankers is gathering off the country's coast.

Oil fell for a third day as optimism over a potential Strait of Hormuz shipping agreement outweighed ongoing geopolitical risks.

'The new program represents a major advancement for the RRC', the Texas oil regulator stated.

'I think another temporary extension of the Jones Act waivers are quite likely to happen', Energy Secretary Chris Wright said during a media briefing at the Port of Brownsville in Texas.

'EIR finds that global oil markets remain structurally tight despite recent price volatility', the company said.

Oil prices tumbled as hopes for a US-Iran agreement raised expectations that shipping through the Strait of Hormuz could resume more normally.

North America added 16 rigs week on week, according to Baker Hughes' latest North America rotary rig count.