Rigzone Industry News

The outlook for Chinese oil markets is looking a little brighter after a boom in travel over the Lunar New Year, raising hopes of a more sustained recovery in demand.

Oil fell as the lack of fresh drivers prompted some investors to exit positions ahead of the weekend and the dip below a key technical indicator accelerated selling.

Oil rose to near the top of its recent trading range after a smaller-than-expected increase in US crude stockpiles added to signs of a tightening physical market.

'This strategic acquisition will facilitate further expansion of OEG Renewables' service offering and operating footprint in the growing European offshore energy market'.

OGDCL announced a 'significant gas-condensate discovery at the Kharo-1 well in District Khairpur, Sindh Province, Pakistan.

Oil rose as traders weighed tightening physical supplies against financial markets that have remained under pressure.

Oil fell as concerns about a longer period of elevated interest rates weighed on broader sentiment, countering signs of a tightening physical oil market.

The BOEM finalized two wind energy areas off the coast of Oregon, covering about 195,000 acres that offer a potential 2.4 GW.

OEUK's CEO says the group remains 'deeply concerned about what Labour's proposals could do'.

Oil closed at its highest settling price this year as increasing tensions in the Middle East outweighed hotter-than-expected US inflation data that's damping the prospect of interest rate cuts.