Rigzone Industry News

'Oil and gas is undergoing a historic consolidation wave'

Oil rose to the highest in about two months as US inventories, Chinese stimulus and an attack on a Russian refinery ignited a rush of trend-following algorithmic buying.

'Carriers are trying to readjust services to make up for the additional sailing time around the Cape of Good Hope'.

The implementation of the ROCS on the Rosebank field is scheduled for June 2025 and is the first ROCS contract between the two companies.

Oil fell in a choppy session as traders weighed escalating military activity in the Middle East against expectations of rising supplies.

An online portal aimed at helping companies take advantage of clean energy tax credits in the US has now enrolled more than 1,000 projects.

Oil rose alongside equities, with the widening conflict in the Middle East adding to crude's gain.

Oil edged higher after another choppy session as traders weighed increased tensions in the Middle East and production outages in the US against a broader risk-off sentiment in financial markets.

OPEC forecast that global oil demand will continue to increase strongly next year.

'Ultimately, peak oil supply has never come to pass, and predictions of peak oil demand are following a similar trend'.