Oil & Gas Industry News

Optimism from the US-China trade truce was overshadowed by bearish government data.

In a statement posted on its website this week, the U.S. Department of Energy announced 'the first step in the Energy Department's largest deregulatory effort in history'.

The agreements were signed during Trump's visit to the kingdom, in which the U.S. president secured $600 billion in investment commitments from Saudi partners.

President Donald Trump appears to prefer U.S. oil prices between $40 and $50 a barrel, according to Goldman Sachs Group Inc.

Ghana is encouraging investors to get the country's crude out of the ground.

Oil jumped nearly 3% as Trump threatened new sanctions on Iranian crude exports.

The incentives put in place by former President Joe Biden's signature climate law have been ripe targets for lawmakers looking for trillions of dollars to help pay for extending Trump's tax cuts.

'With Brent hovering around $65, it's unlikely that oil prices will dominate the agenda during the Saudi visit', SEB Commodities Analyst Ole R. Hvalbye said.

North America cut 12 rigs week on week, according to Baker Hughes' latest North America rotary rig count.

Analysts indicate the truce removed $3–$5 of downside from oil prices.