Oil & Gas Industry News

Oil rose after Zelensky's comments tempered hopes for a swift Russia-Ukraine deal.

U.S. President Donald Trump said he will hold off on raising tariffs on Chinese goods over the country's purchases of Russian oil.

The award is TIPRO's top honor.

The U.S. Energy Information Administration cut its West Texas Intermediate average spot crude oil price forecast in its latest short term energy outlook.

Any talks about U.S. sanctions towards Russia are now blowing in the wind, Bjarne Schieldrop, Chief Commodities Analyst at Skandinaviska Enskilda Banken AB, said.

Oil drifted lower, settling below $66 a barrel, as investors awaited a face to face summit between Donald Trump and Vladimir Putin later Friday.

The U.S. Energy Information Administration cut its Brent spot average crude oil price forecast for 2025 and 2026 in its latest short term energy outlook.

'The threat of secondary sanctions has been particularly successful', Olga Tokariuk, a fellow with the Democratic Resilience Program at CEPA, said in an exclusive CEPA press briefing, which Rigzone was invited to.

WTI rebounded above $63 as traders awaited signals from the Trump-Putin summit.

Absent greater military involvement, the Trump administration has limited leverage over Russia without risking a spike in oil prices, analysts at J.P. Morgan said.