Industry News

Oil prices plunged as renewed Iran peace hopes eased concerns over Middle East supply disruptions.

A Houthi attack damaged one of the landmarks of the Saudi Arabian capital's financial district.

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

A bipartisan plan to speed the federal approval process for major energy and infrastructure projects received the endorsement of President Donald Trump on the eve of a key Senate vote.

Strathcona agreed to acquire Greenfire for up to around $2.06 billion, a combination that the Canadian companies said would create an oil sands major that offers faster growth than larger rivals.

ADNOC Gas and Sharjah National Oil agreed to study potential collaboration aligned with strengthening natural gas supply security in the United Arab Emirates.

Which U.S. oil major produced the most in the third quarter of 2026 - ExxonMobil, Chevron, or ConocoPhillips?

QatarEnergy is entering into another partnership with Chevron offshore Namibia with the acquisition of a 25 percent stake in Petroleum Exploration License 82.

Hungary's state-backed MOL Group reported around $865 million in net profit for the third quarter, up 143 percent from the same three-month period last year as refining margins soared.

Crude oil experienced its sharpest weekly decline in months on Friday, Ole S. Hansen, Saxo Bank's Head of Commodity Strategy, said in a report sent to Rigzone.

On the other hand, Rubio, Trump's secretary of state, played down the chances of rapid progress in negotiations, saying Tehran's demands to date are unacceptable.

South Bow reported $99 million in normalized net profit - its version of net profit adjusted for special items - for the third quarter, down quarter-on-quarter and flat year-on-year as Keyston Pipeline throughput dropped.

OPEC's crude production rose toward pre-war levels last month as Saudi Arabia led a further recovery in Persian Gulf supplies, according to a Bloomberg survey.

Crude prices fluctuated as traders weighed Iran diplomacy, recovering Gulf exports and broader market weakness.

UK cabinet ministers are lobbying Prime Minister Andy Burnham and Energy Secretary Miatta Fahnbulleh to approve drilling at the Rosebank oil and gas field in the North Sea.

Commercial crude oil stocks, not including the SPR, came in at 409.760 million barrels on October 30, the EIA's latest weekly petroleum status report showed.

Ukraine struck a sixth Russian oil refinery in a week.

Orsted announced the start of commercial operation at the 704-megawatt Revolution Wind, a 50:50 partnership with GIP that was among several U.S. offshore wind projects threatened with cancelation by the Trump administration.

The oil market has arrived at a remarkable destination, analysts at J.P. Morgan said.

The Indian state-owned company reported around $3.46 billion in net income for the first half of its 2027 financial year, up 82 percent from the same six-month period of the prior year as high realized oil and gas prices offset lower production.