Read the latest issue of World Oil | View In Browser     SATURDAY ROUNDUP   Jun 24, 2026

BRENT $80.57     West Texas Intermediate (WTI) $76.54     Henry Hub Natural Gas $3.20     Hormuz reopens, but obstacles remain as oil markets seek path to normalcy After months of disruption, oil and LNG shipments are beginning to flow through the Strait of Hormuz again, helping push Brent crude back toward $80/bbl. But questions remain over shipping rules, insurance requirements and long-term U.S.-Iran negotiations. Read More   IEA cuts 2026 oil demand outlook amid Hormuz recovery, weaker fuel consumption The IEA has cut its 2026 oil demand forecast by 700,000 bpd, now expecting global consumption to decline by 1.1 MMbpd this year as Middle East disruptions, higher fuel prices and tighter product markets weigh on demand. Read More   Iran ships 20 MMbbl of oil after U.S. peace deal Iran has shipped an estimated 20 million barrels of crude oil this week from the port of Chabahar, signaling a rapid return of exports following the interim U.S.-Iran agreement and adding fresh supply to global oil markets. Read More   Equinor targets 2.3 MMboed by 2030, boosts oil and gas investment Equinor has outlined plans to increase production to 2.3 MMboed by 2030, supported by higher investment in oil and gas projects, expanded activity on the Norwegian Continental Shelf and 30% growth in international production. Read More   Exxon reportedly evaluates Woodside as LNG acquisition target ExxonMobil is reportedly evaluating potential acquisition opportunities in the LNG sector, including Australia's Woodside Energy, as the company seeks to expand its presence in global gas markets and strengthen access to Asian LNG demand. Read More     Innovex to acquire Norway's TCO Group for $95 million Innovex has agreed to acquire Norway-based TCO Group for $95 million, adding intervention-free well technology and expanding its presence in key offshore markets including Norway and the UAE. Read More   ADNOC taps industry veteran to lead trading arm expansion ADNOC has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude marketing business and targets higher trading volumes alongside growing production capacity. Read More   A Baker Hughes executive assesses the electrification effort Upstream electrification continues to progress apace, as it helps to provide simplification of systems, reliability of operations and cost reductions in the field, says Baker Hughes executive Rodrigo Farias. Read More   What's new in exploration: Financial distractions, investor rationalizations, exploration laments Read More       Weekly Rig Count Update     U.S. Rotary Rigs -10 rigs (change from 3/29) 563     Canada Rotary Rigs -17 rigs (change from 3/29) 186     International Rotary Rigs + 3 rigs (change fromFebruary 2019) 1046       Kurt Abraham Editor-in-Chief   Mary Holcomb Digital Lead     Ivy Diaz Digital Editor   Olivia Kabell Associate Editor

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