Rigzone Industry News

It remains unclear whether the deal will be backed by the full Democratic caucus in the 50-50 Senate.

Oil fell in a thin trading session as broader markets brace for an aggressive rate hike from the Federal Reserve.

Oil rose as tight near-term supplies outweighed expectations of another rate hike this week and an eventual economic slowdown.

Taiwan's Formosa 2 offshore wind farm has passed two significant construction milestones, completing the installation of twelve turbines, and transmitting power to the national grid.

Oil declined at the start of the week as concerns about an economic slowdown overshadowed signs of a tight physical crude market.

Oil posted a weekly loss with softer European economic data and signals of US fuel demand stalling souring the market's outlook.

The Department of the Interior has announced steps to bring the opportunity of offshore wind energy to the Gulf of Mexico.

Oil rose for a second day following a rally in equity markets as thin liquidity left crude susceptible to broader moves.

Oil rallied above $100 after the Saudis declined to make any promises regarding future output increases, while a weaker dollar also helped put wider commodity markets on firmer footing.

OPEC producers will need to pump crude at the fastest pace in five years in 2023 if they are to balance oil supply and demand.