Oil & Gas Industry News

Optimism over Trump's talks with China and Putin briefly steadied sentiment amid bearish fundamentals.

Colombia is poised for an about face.

In its latest short term energy outlook, the EIA raised its U.S. total energy consumption forecast for 2025 and 2026.

A BofA Global Research report sent to Rigzone recently noted that BofA sees 'a[n] [oil price] floor likely forming at $55 per barrel'.

Canadian oil exports to China are on pace for a record month.

Oil fell to a fresh five-month low.

'We ... expect OPEC to implement cuts to avoid a large increase in inventories in Q1-26', SEB Chief Commodities Analyst Bjarne Schieldrop said.

'The taskforce will help ensure the wealth of skills and experience developed in oil and gas fuels Britain's next generation of clean energy industries', GBE said.

OPEC+'s rapid production return has added pressure despite Fed rate cut optimism.

'It looks like we are now moving into a bit of a different market,' Torbjorn Tornqvist, chief executive officer of Gunvor Group, said in an interview in London.

Occidental Petroleum Corp. Chief Executive Officer Vicki Hollub said she is 'very bullish on oil prices, not this year or next, but I'm bullish on oil prices'.

More than 100 UK energy supply chain companies have called for Energy Profits Levy reform, industry body Offshore Energies UK announced.

Analysts and trading executives warn that oil could slide further into the $50s range amid contango and slowing demand.

'Mounting concerns of a global supply surplus weighed on the market', said Daniel Takieddine, Co-founder and CEO of Sky Links Capital Group.

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

Traders see short-term volatility persisting as tariffs, shipping fees, and OPEC output cloud demand prospects.

The U.S. Energy Information Administration lowered its Henry Hub natural gas spot price forecast for both 2025 and 2026.

OPEC kept its outlook for the oil market unchanged as the group and its allies continue to add barrels.

'Trump's aggressive stance keeps crude volatile', XMArabia Analyst Nadir Belbarka said.

A lack of spare OPEC+ capacity could potentially lead to an oil price spike, Hartree Partners Senior Adviser and Commodities Strategist Ed Morse highlighted to Rigzone in an exclusive interview.