Oil & Gas Industry News

Brent settled above $106 amid escalating Middle East tensions and uncertainty over a Russia-Ukraine energy truce.

North America added 11 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

Ukrainian President Volodymyr Zelenskyy is on a collision course with President Donald Trump.

The number of employees in the oil and gas extraction industry hit a post pandemic September low, data on the U.S. Bureau of Labor Statistics website showed.

The energy market continues to mistake adaptation for normalization, Standard Chartered Bank Energy Research Head Emily Ashford said.

Russia's oil product shipments climbed to a three-month high in September.

Oil prices edged higher as Middle East tanker attacks and Hurricane Isaias heightened supply concerns.

Commercial crude oil stocks, not including the SPR, came in at 424.134 million barrels on October 2, the EIA revealed.

IEA member governments 'expressed support for accelerating the oil stock releases announced in the Collective Action of March 2026', IEA Executive Director Fatih Birol said.

That represents 34.77 percent of the 371 manned platforms in the Gulf of America, the Marine Minerals Administration highlighted.