Rigzone Industry News

Oil tumbled to near a two-month low as traders assessed a higher-than-expected price cap on Russian crude between $65 and $70 a barrel and a surprise build in US products.

SLB noted that its OneSubsea business and Subsea Integration Alliance secured a large job for BP offshore Trinidad & Tobago.

Oil dropped as a pipeline carrying Russian crude to Europe was reported to have restarted and tensions over Poland eased, pushing demand concerns to the market's forefront.

OPEC reduced its forecasts for global oil demand again.

Oil declined as US crude inventories rose while China struggles to contain rising Covid cases.

With six offshore CCS projects in development or planning phases, operators look to breathe new life into the US Gulf of Mexico.

Oil fell alongside broader markets as Federal Reserve Chair Jerome Powell said interest rates will rise more than earlier expected, overshadowing concerns of tightening fuel supplies.

Oil rose as fuel stockpiles continue to tighten, clinging to gains even as hawkish comments from Federal Reserve Chairman Jerome Powell knocked the wind out of Wall Street.

OKEA has completed the acquisition of Wintershall Dea's interests in three offshore fields in the Norwegian part of the North Sea.

Oil gained on speculation that China is preparing to gradually exit the country's Covid-Zero policy.