Oil & Gas Industry News

Oil posted a strong weekly gain as Middle East conflict and mounting supply risks kept markets on edge.

The International Energy Agency cut forecasts for oil demand this year and warned consumption may decline further in the coming months.

What if the assumptions embedded in the oil curve are wrong - J.P. Morgan analysts, including Natasha Kaneva, J.P. Morgan's Head of Global Commodities Strategy, ask.

Brent surged more than 6% to $107.63 as escalating Middle East tensions heightened global supply concerns.

Iran and the U.S. are digging in for a protracted war.

The Brent oil price closed at $101.21 per barrel on Wednesday.

Mexico plans to cut financial support for state-owned Petroleos Mexicanos by nearly 70 percent next year.

Brent reached $101 as Middle East disruptions, falling inventories and renewed Chinese buying tightened markets.

South Korea has identified a gas-fired power project in Texas as the first U.S. investment under a trade deal agreed last year, local media reported.

The number of employees in the oil and gas extraction industry rose month on month, bucking a trend, data on the U.S. Bureau of Labor Statistics website showed.