Oil & Gas Industry News

In recent days, there have been increasing signs that Trump's patience with Putin is wearing thin.

Oil rose as Russian supply risks clashed with surplus forecasts.

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

At least two tankers have completed loadings at Russia's Primorsk.

The U.S. Energy Information Administration revealed its latest WTI spot price forecast for 2025 and 2026 in its September short term energy outlook.

Traders balanced geopolitical risks with bearish supply forecasts, keeping WTI range bound.

The U.S. will urge its allies in the Group of Seven to impose tariffs as high as 100 percent on China and India for their purchases of Russian oil.

'We expect the Brent crude oil price will decline significantly in the coming months', the EIA warned.

The number of employees in the oil and gas extraction industry has dropped by thousands since the start of the year, data on the U.S. Bureau of Labor Statistics website shows.

Oil fell 2% to settle below $63 as the IEA projected a record surplus next year amid rising OPEC+ and rival supply.