Oil & Gas Industry News

'If you're going to go for a big acquisition, one has to recognize that that can potentially distract'.

Oil prices climbed after a US report showed falling crude and gasoline inventories, signaling tighter short-term supplies.

The US said Russia and Ukraine agreed to a ceasefire in the Black Sea.

'The supply surpluses the market had feared have yet to materialize, and the outlook for Q2 and Q3 does not suggest that any surplus is imminent', analysts at Standard Chartered Bank said.

Macquarie strategists revealed that they are forecasting that U.S. crude inventories will be down for the week ending March 21.

Oil prices dipped as traders remained cautious over signs that sanctions on Russia's oil sector may ease.

'Bullish call option holders are attempting to maintain support at the $4.00 strike price ahead of contract options expiration tomorrow', Eli Rubin, an energy analyst at EBW Analytics Group, said.

Stratas Advisors outlined in a report that oil prices 'will get support' from several factors.

'The future of the North Sea is in our hands', OEUK Chief Executive David Whitehouse said.

North America cut 18 rigs week on week, according to Baker Hughes' latest North America rotary rig count.