Oil and Gas Prices
News
May 02, 2025
OPEC+ agreed to increase output again in June, as the group continues a supply revival aimed at punishing over-producing members that has sent crude prices plunging. Key nations agreed to add 411,000 bpd next month, according to a statement.
News
May 02, 2025
Exxon Mobil Corp. and Chevron Corp. are likely to shoulder more of the Permian basin’s oil growth as independent producers cut back in response to U.S. President Donald Trump’s trade war and supply increases from OPEC+, which have caused oil to drop nearly 18% since April 1.
News
April 30, 2025
Oil prices tumbled as signs emerged that OPEC+ may be entering a prolonged period of higher production. Beyond OPEC+, non-cartel nations are also expected to add supplies, including drillers in Canada and Guyana, feeding concerns about a global glut.
News
April 29, 2025
CNOOC has led Beijing’s efforts to boost oil and gas output and bolster energy security, and its focus on extraction helped deliver near-record annual profits last year. But that dependence on upstream prices was a burden in Q1 2025.
News
April 29, 2025
bp Plc is off to a “great start” in its strategy reset and can follow through on the turnaround despite the recent drop in oil prices driven by U.S. President Donald Trump's trade war, said Chief Executive Officer Murray Auchincloss.
News
April 28, 2025
Drillers in Canada’s Alberta energy region are shifting their focus to natural gas as the global trade war and OPEC+ output increase hammers crude prices. The number of licenses for new gas wells issued in Q1 rose 26%, according to Alberta Energy Regulator data.
News
April 28, 2025
U.S. President Donald Trump's desire for lower crude prices and his disruption of the global economy with trade tariffs during the first quarter of 2025 is stressing the oil industry’s finances, calling into question both shareholder returns and drilling plans.
News
April 24, 2025
Texas shale-oil company Matador Resources Co. plans to drop one of its nine drilling rigs by the middle of the year in response to plunging crude prices. Matador is the first significant shale company to announce it’s cutting back on drilling since crude futures began nosediving earlier this month.
News
April 23, 2025
Oil prices may decline further this year as new production swells and demand remains capped by China’s faltering growth, the head of the International Energy Agency said. Crude futures remain nearly 9% below levels traded before U.S. President Donald Trump's tariffs announcements.
News
April 23, 2025
OPEC+’s audacious bid to punish its oil-quota cheats prompted a renewed plunge in crude on Wednesday, amid growing tensions with Kazakhstan. Kazakhstan Energy Minister Erlan Akkenzhenov appeared on Wednesday to reject pressure to bring output in line with OPEC+'s quota.
News
April 22, 2025
Oil rose as the potential for the U.S. to curtail Iranian flows added to a rebound driven by broader markets. Crude slumped earlier this month on concern that tensions between the U.S. and its trading partners will hurt economic growth and oil consumption.
News
April 22, 2025
Halliburton fell sharply after warning investors that tariffs will impact a wide swath of the company’s business units. Halliburton is the first major company in the U.S. oil industry to disclose a specific financial impact from the global trade war.
News
April 18, 2025
Oil rose slightly at the end of the week after the Trump administration ratcheted up pressure on Iran’s energy exports, while talks between the U.S. and a handful of key trade partners stirred optimism that agreements on trade can be reached.
News
April 17, 2025
Liberty Energy Inc., one of the biggest U.S. fracing companies, expects most producers to stick with their production plans as long as crude prices can hang on near current levels. Denver-based Liberty's shares are down about 20% since Trump announced tariffs earlier this month.
News
April 16, 2025
Shale fracing major Liberty Energy Inc., formerly run by U.S. Energy Secretary Chris Wright, posted its worst earnings in three years amid plunging oil prices and mounting concerns about energy demand.
News
April 16, 2025
bp Plc’s major strategy reset is less than two months old, but the foundations of the company’s pivot back to oil are already starting to look shaky as Brent crude prices fell below $70 per barrel last week -- a level bp has said is crucial for meeting its targets.
News
April 14, 2025
OPEC cut forecasts for global oil demand growth slightly this year and next as President Donald Trump’s tariff onslaught takes a toll on consumption, while remaining more bullish than other forecasters.
News
April 11, 2025
The number of U.S. rigs drilling for crude fell by nine to 480 this week, the biggest drop since June 2023. Domestic oil prices have been hovering around the low $60s-a-barrel, below levels that energy executives have said they need to make new drilling profitable.
News
April 09, 2025
The plunge in oil prices over the past week was more severe than the market’s dynamics justify, and the drop may be short-lived, according to Canadian energy executives gathered in Toronto. “What we learned from Covid is that energy demand is pretty resilient,” said one executive.
News
April 09, 2025
The market rout sparked by President Donald Trump’s trade war is touching almost every part of the economy. But there are probably few industries feeling more aggrieved right now than U.S. shale oil.
News
April 08, 2025
The sudden plunge in oil prices begs the question, what if WTI prices go as low as $50 per barrel? At that level, U.S. Lower 48 onshore crude oil production could decline by more than 1 million bpd over 12 months, according to S&P Global Commodity Insights.
