Industry News

The near-term outlook is 'highly uncertain', BMI analysts said.

The API said it opposes new Senate biofuels legislation that would expand sales of higher-ethanol gasoline and give exemptions from annual blending mandates for some small oil refineries.

'The transaction supports BP's continued focus on disciplined capital allocation and is also expected to lower underlying operating expenditure by around $1 billion'.

'Seven OPEC+ countries ... met virtually on 2 August 2026, to review global market conditions and outlook', a statement posted on OPEC's site highlighted.

Concurrently TotalEnergies agreed to sell a 50 percent stake in a 1.2-GW 'largely developed' portfolio of onshore solar and wind projects in Europe to KKR.

'Daily price movements are likely to remain sensitive to political rhetoric and developments', Carole Nakhle, Chief Executive Officer of Crystol Energy, told Rigzone.

The U.S. president said new Iran talks would begin after he called off a planned attack on Iran partially in response to pleas from Washington's allies in the Middle East.

The Australian LNG-focused producer reported $4.19 billion in revenue for the second quarter, up 28 percent from the prior three-month period on higher prices.

Abu Dhabi National Oil Co., the UAE's state oil company, said it would change how it prices its crude oil grades.

Oil finished July with its strongest monthly gain since March as geopolitical conflicts raised concerns about global crude supplies.

ExxonMobil Holdings Corp. and Chevron Corp. plowed blowout profits into debt reduction rather than huge buyback increases.

Chevron Corp. posted record second-quarter results that outperformed expectations.

Crude oil stocks, not including the SPR, stood at 404.5 million barrels on July 24, the EIA's latest weekly petroleum status report showed.

'Once fully constructed in 2032, the campus will support up to 1.8 gigawatts (GW) of utility capacity and over 1.2 GW of compute capacity - backed by up to 4.6 GW of dedicated generation resources paid for and built specifically for the project'.

Ukraine struck one of Russia's largest oil refineries.

'S.5039 reauthorizes a long-standing policy that is an important framework for federal land producers', Dan Naatz, IPAA EVP and Chief Policy Officer, said.

'Our decision to exit is driven by disciplined capital allocation and portfolio choices, as we focus on opportunities that strengthen our integrated LNG value chain'.

Both Brent and West Texas Intermediate oil prices were down on Friday but still on track for notable monthly gains, Naeem Aslam, CIO at Zaye Capital Markets, outlined.

'The decision forms part of BP's ongoing portfolio review and reflects its disciplined approach to capital allocation - all in service of creating a simpler, stronger and more valuable company'.

Saudi Arabia discussed with military representatives of 43 countries the formation of a multinational alliance charged with protecting maritime navigation, hoping to counter a blockade the Houthis imposed on the kingdom.