Rigzone Oil & Gas Headlines
- The diversions show the disruption to supply chains caused by the trade fight between the U.S. and China.
- Oil prices edged up slightly as conflicting US-China trade signals kept markets cautious.
- Energy Secretary Chris Wright sought to reassure U.S. oil companies during a visit to Oklahoma.
- 'AccuWeather is forecasting seven to nine million acres to burn across the country this year, which is more than the historical average', AccuWeather Lead Long-Range Expert Paul Pastelok said.
- At this week's flagship international summit on energy security, the clashing visions of the US and its allies were on full display.
- Tight supplies and bullish market signals supported gains in both WTI and Brent.
- Enverus Intelligence Research revealed that U.S. upstream mergers and acquisitions (M&A) hit $17 billion in deal value in the first quarter of 2025.
- 'We believe it is important for the offshore energy industry to take seriously the need for optimum security', said Mark Wilson, OEUK's director of health, safety, environment, and operations.
- Oil dropped over 2% as reports of accelerated OPEC+ output overshadowed easing US-China trade tensions.
- Birol is visiting London as the IEA and the UK government convene a two-day summit of more than 60 countries and numerous companies to discuss the future of energy security.