Oil and Gas News
The latest Oil and Gas coverage from hundreds of sources, newest first.
Oil and gas news covers crude oil, natural gas and refined fuels, and the companies that produce, ship and refine them.
Stories here include OPEC+ production decisions, weekly US inventory reports, shale output, LNG exports, refinery outages and gasoline prices. Supply shocks from wars, sanctions and Gulf of Mexico hurricanes can move prices within hours, while demand depends on economic growth, above all in China and the US. The large integrated companies, the shale producers and the oilfield service firms are covered here too, including their results, dividends and buybacks, and the acquisitions that have consolidated US shale into fewer, larger producers.
A story is listed here when our topic model tags it Oil and Gas. Each story's page links to the reports it draws on.
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- Market Flux Event
Saudi Arabia Surges Oil Output 26% to War-Time High as OPEC+ Production Jumps 2 Million Barrels Per Day
Saudi Arabia reported to OPEC that its crude oil production jumped 26% in October to 10.563 million barrels per day, up from 8.372 million bpd in September, reaching its highest level since…
- Market Flux Event
Brent Crude Climbs to $92.77 as Strait of Hormuz Tanker Attacks Undercut Iran Truce Hopes
Oil prices rebounded Wednesday after falling to two-month lows earlier in the week, with Brent crude rising to $92.77 a barrel as fresh tanker attacks in and near the Strait of Hormuz…
- Market Flux Event
Oil Prices Slide to $90 a Barrel as US-Iran Diplomacy Raises Hopes for End to Mideast War
Crude oil prices extended their decline for a second consecutive session on Tuesday, falling to around $90 a barrel as growing optimism over diplomatic efforts to end the Iran war drove a…
- Market Flux Event
API Crude Inventory Report Shows Large Build After Initial Draw Figures Corrected, WTI Falls 2%-5%
The American Petroleum Institute's weekly inventory report for the week ending November 10, 2026 was quickly clouded by a significant data error. API figures initially circulated showed US…
- Market Flux Event
Occidental Petroleum Beats Q3 2026 Profit Forecasts as Shares Rise on Debt Milestone
Occidental Petroleum reported third-quarter 2026 net income attributable to common stockholders of $1.6 billion, or $1.61 per diluted share, with adjusted earnings per share from continuing…
- Market Flux Event
Iran's IRGC Claims Three Oil Tankers Hit Naval Mines in Strait of Hormuz in a Single Day
Iran's Islamic Revolutionary Guard Corps said three oil tankers caught fire on November 10 after striking naval mines in the eastern Strait of Hormuz, framing each vessel as involved in…
- Market Flux Event
EIA Raises Oil and Gas Price Forecasts While Trimming Long-Term Demand Growth Outlook
The U.S. Energy Information Administration released its November Short-Term Energy Outlook, lifting its price forecasts for both WTI and Brent crude while making modest adjustments to…
- Market Flux Event
Houthis Claim Strikes on Riyadh Airport, Aramco Facilities and Saudi East-West Oil Pipeline
Yemen's Houthi forces announced a broad wave of attacks targeting critical Saudi infrastructure on November 10, claiming to have struck King Khalid International Airport in Riyadh, a…
- Top Story
Brent Crude Breaks Below $90 as Iran Tensions Ease and Ukraine Peace Talks Open in Abu Dhabi
Brent crude fell below $90 a barrel for the first time since August on November 10, dropping roughly 3.6% after President Trump signaled that further military strikes on Iran would not be…
- Market Flux Event
ADNOC Gas Weighs Alternative LNG Export Routes as Hormuz Shipments Stay Below Pre-Conflict Levels
ADNOC Gas is actively studying ways to reduce its reliance on the Strait of Hormuz for LNG exports, with both its CEO and CFO confirming the review is ongoing but no final decisions have…
- Market Flux Event
ExxonMobil Signs MoU With Venezuela Nearly Two Decades After Being Forced Out
ExxonMobil has signed a memorandum of understanding with the Venezuelan government and state-owned Petróleos de Venezuela SA to evaluate potential upstream oil opportunities, the company…
- Most Active
Sable Offshore Crashes to Record Low After Sole Crude Buyer Halts Purchases and Company Flags Going-Concern Doubt
Sable Offshore Corp. shares collapsed to a record low of 76 cents on November 9 after the company disclosed in its third-quarter 10-Q that there is substantial doubt about its ability to…
- Top Mover
NRG Energy Surges Nearly 10% After $4 Billion Gas Asset Sale to LS Power and Strong Q3 Beat
NRG Energy announced a definitive agreement to sell six natural gas generation assets totaling 4.9 gigawatts to LS Power for $4 billion in cash, a price representing an implied 2027…
- Market Flux Event
Saudi East-West Oil Pipeline Attacked Again Near Medina, Small Fire Quickly Contained
Saudi Arabia's East-West crude oil pipeline was targeted in the Medina region on November 9, according to the Saudi state news agency SPA and the Saudi Energy Ministry. A limited fire broke…
- Market Flux Event
Drone Strike Halts Production at Iraq's Khor Mor Gas Field in Kurdistan
A drone strike hit the Khor Mor gas field in Chamchamal, Sulaymaniyah province, in Iraq's Kurdistan region on November 8, triggering a fire visible from a distance and forcing a complete…
- Market Flux Event
Houthis Strike Aramco Tower in Riyadh in Broad Attack on Saudi Energy and Financial Targets
Yemen's Houthi movement launched a wide-ranging missile, cruise missile and drone assault on Saudi Arabia on Sunday, November 8, damaging an administrative tower belonging to Saudi Aramco…
- Market Flux Event
France Has Sold 3.6 Million Barrels of Diesel From Strategic Reserves to Curb Pump Prices
France's Energy Ministry confirmed on November 6 that 3.6 million barrels of diesel have been sold out of the country's strategic reserves to date, as part of a government-backed effort to…
- Market Flux Event
Tanker Sinking in Strait of Hormuz After Strike as Wave of Gulf Ship Attacks Kills One Seafarer
A crude tanker identified as the VIEIRA, a Marshall Islands-flagged VLCC operated in connection with Greek shipping interests, was reported sinking in the Strait of Hormuz on November 6…
- Market Flux Event
Enbridge Q3 Profit Nearly Doubles to $1.29 Billion on Natural Gas Strength and Derivative Gains
Enbridge Inc. reported third-quarter net profit of $1.29 billion, nearly double the $682 million it earned in the same period a year earlier, driven by strength in its natural gas…
- Market Flux Event
Devon Energy Beats Third-Quarter 2026 Profit Estimates as US Shale Output Holds Strong
Devon Energy Corp. topped Wall Street's third-quarter 2026 profit estimates when it reported results after the close of US markets on November 5. Analysts had been watching the Oklahoma…
- Market Flux Event
QatarEnergy Seeks 3 to 6 Million Tons of Annual US LNG to Offset Persian Gulf Supply Risks
QatarEnergy is in talks to sign additional long-term contracts to buy liquefied natural gas from US companies, targeting purchases of 3 million to 6 million tons annually, according to…
- Market Flux Event
Multiple Oil Tankers Hit Mines and Catch Fire East of Strait of Hormuz as Iran Escalates Shipping Attacks
A series of tanker incidents struck the Strait of Hormuz on Thursday, November 5, as Iran's Islamic Revolutionary Guard Corps claimed that multiple oil tankers had collided with naval mines…
- Market Flux Event
Trump Russia Diesel Deal Collapses as Four Tankers Veer Off Course and US Fuel Stocks Hit 20-Year Low
A White House effort to ease soaring US fuel costs by importing Russian diesel has faltered badly, with two of the four tankers dispatched under the Trump-Putin deal changing course and the…
- Market Flux Event
UAE Considers Third Oil Export Pipeline Bypassing Strait of Hormuz via Fujairah
The United Arab Emirates is weighing the construction of a third crude oil export pipeline designed to route oil outside the Strait of Hormuz, as Abu Dhabi seeks to sharply reduce its…
- Market Flux Event
Iran Claims Four Tankers Destroyed by Naval Mines South of Strait of Hormuz as Oil Prices Swing
Iran's Islamic Revolutionary Guard Corps said four oil tankers were destroyed and two others seized after striking naval mines south of the Strait of Hormuz early Wednesday, with the IRGC…
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- Market Flux Event
Gas Prices Hit an All-Time Election Day Record as US Voters Head to the Polls
Americans are voting in the 2026 midterm elections with gasoline prices at their highest level ever recorded on an Election Day. The national average reached approximately $4.12 to $4.20…
- Market Flux Event
CVR Energy to Acquire Two Marathon Petroleum Refineries and Marketing Business for $4.2 Billion
CVR Energy, the refiner controlled by billionaire Carl Icahn, agreed on November 3 to buy Marathon Petroleum's St. Paul Park refinery in Minnesota and its Mandan refinery in North Dakota…
- Unusual Volume
CVR Energy Agrees to Buy Two Marathon Petroleum Refineries and Marketing Business for $4.2 Billion
CVR Energy, the oil refiner controlled by billionaire Carl Icahn, agreed on November 3 to acquire Marathon Petroleum's St. Paul Park refinery in Minnesota and its Mandan refinery in North…
- Market Flux Event
Ukraine Strikes Yaroslavl Refinery in Fifth Major Russian Energy Attack in Five Days
Ukraine struck the Slavneft-Yanos oil refinery in Yaroslavl overnight on November 3, setting multiple sections of the facility ablaze, according to regional Russian governor reports…
- Market Flux Event
CVR Energy Near $4 Billion-Plus Deal to Buy Marathon Petroleum Refineries
CVR Energy, the oil refiner controlled by activist investor Carl Icahn, is close to a deal worth more than $4 billion to acquire refineries from Marathon Petroleum, according to the Wall…
- Market Flux Event
TotalEnergies CEO Says Europe Faces Higher Gas Prices This Winter, Not Shortage
TotalEnergies CEO Patrick Pouyanne said Monday that Europe will not face a gas shortage this winter but will be forced to pay more to secure sufficient supply. The distinction is…
- Market Flux Event
Blackstone Leads $3.1 Billion Acquisition of LNG Canada Stake as TotalEnergies Expands in Malaysia
A Blackstone-led investor group agreed on November 2 to acquire a 49.9% interest in a Mitsubishi Corporation subsidiary that holds Mitsubishi's stake in the LNG Canada liquefaction business…
- Market Flux Event
BP Receives $6 Billion From Sale of 65% Castrol Stake to Stonepeak Partners
BP has completed the sale of a 65% stake in its Castrol lubricants business to infrastructure investment firm Stonepeak Partners, generating $6 billion in proceeds that the oil major will…
- Top Story
Oil Tumbles 7% as Iran Grants Government Authority for US Peace Talks and Draft Hormuz Deal Circulates
Oil prices plunged as much as 7% on November 2 as a cascade of diplomatic signals raised hopes that the US-Iran war and the Strait of Hormuz disruption could be nearing a resolution. Brent…
- Market Flux Event
Seven OPEC+ Members Hold December Output Quotas Steady Amid Gulf Shipping Disruptions
Seven core members of the OPEC+ alliance voted on Sunday, November 1, to keep oil output quotas unchanged for December 2026, maintaining the production levels set in September 2026. The…
- Market Flux Event
Qatari LNG Tanker Al Mayeda Attacked Near Strait of Hormuz Hours After Iran Granted Safe Passage
A Qatari liquefied natural gas carrier, the Al Mayeda, was struck by unidentified objects near the Strait of Hormuz on Friday despite Iran having granted the vessel explicit safe-passage…
- Market Flux Event
Oil Tanker Catches Fire After Hitting Naval Mines in Prohibited Zone East of Strait of Hormuz
Iran's navy said an oil tanker caught fire on October 31 after striking naval mines while transiting what Iran describes as a prohibited and unsafe area in the eastern Strait of Hormuz…
- Market Flux Event
Big Oil Posts $56 Billion in Q3 Profits Fueled by Iran War and Soaring Fuel Prices
ExxonMobil, Chevron, BP, Shell, and TotalEnergies combined for $56.3 billion in adjusted net income in the third quarter of 2026, surpassing expectations across the board, as the US-Israeli…
- Market Flux Event
Russia Extends Diesel Export Ban Through January 31 2027 to Stabilize Domestic Fuel Market
Russia has extended its ban on diesel exports by direct producers through January 31, 2027, according to a government decree signed on October 31, 2026. The restriction covers diesel fuel…
- Unusual Volume
Chevron Q3 Profit Nearly Triples to $9.9 Billion as War-Driven Refining Surge Lifts Earnings to Fourth Highest in Company History
Chevron reported third-quarter 2026 net income of $9.9 billion, nearly tripling year over year, as record U.S. refining margins driven by attacks on Russian and Middle Eastern refineries…
- Unusual Volume
ExxonMobil Posts Record Refining Profit in Q3 as War-Driven Diesel Crunch Doubles Net Income
ExxonMobil reported third-quarter 2026 adjusted earnings per share of $4.23, beating the Wall Street consensus of $4.08 by $0.15, on revenue of $113.16 billion that topped estimates of…
- Market Flux Event
Valero Agrees to Buy Former LyondellBasell Houston Refinery Site for $320.5 Million
Valero Energy Corporation announced Friday that its wholly owned subsidiary, Valero Refining-Texas, L.P., has entered into a definitive agreement to acquire all outstanding equity interests…
- Market Flux Event
BP, ExxonMobil and Chevron Post Record or Near-Record Profits as Iran War Drives Refining Boom
The world's largest publicly traded oil companies swept past analyst estimates in third-quarter 2026 earnings, all crediting the same force: war-driven supply disruptions that sent refining…
- Market Flux Event
Oil Surges to Four-Month Highs as Iran Mines Three Tankers in Hormuz and Ukraine Hits Russian Refinery
Crude oil prices surged to their highest levels in months on Friday after Iran's Revolutionary Guards Navy reported that three oil tankers, including a supertanker carrying more than 2…
- Market Flux Event
US Energy Department Awards 16.75 Million Barrel SPR Oil Loan to Five Companies Including Trafigura, Gunvor and Vitol
The U.S. Energy Department announced that five companies will borrow 16.75 million barrels of crude oil from the Strategic Petroleum Reserve, out of the 17 million barrels the government…
- Market Flux Event
Tanker Struck by Projectile in Strait of Hormuz as Oil Settles Above $100
A tanker was hit by an unknown projectile while completing an outbound transit of the Strait of Hormuz near Khasab, Oman, at 1600 UTC on October 29, 2026. The vessel's Company Security…
- Market Flux Event
Exxon and Chevron Cancel Executive Trips to ADIPEC Conference in UAE Over Security Concerns
Executives from ExxonMobil and Chevron have canceled plans to attend ADIPEC, the major annual oil industry conference held in Abu Dhabi, UAE, scheduled for the following week, according to…
- Market Flux Event
Three Tankers Hit Mines in Strait of Hormuz as QatarEnergy Moves to Buy US LNG and Europe Taps Reserves
Iran's Islamic Revolutionary Guard Corps confirmed that three oil tankers exploded and caught fire after striking sea mines in the Strait of Hormuz, saying the vessels had disabled their…
- Market Flux Event
European Benchmark Gas Price Crosses EUR 100 Per MWh for First Time Since December 2022 Energy Crisis
The European benchmark natural gas price, measured by the TTF futures contract traded in Amsterdam, crossed EUR 100 per megawatt-hour on October 28, marking the first time that threshold…
- Top Story
Fed Holds Rates Steady as Brent Hits $115 on Houthi Attack and Iran War Fears
Oil prices surged to multi-year highs on October 28 as a confluence of geopolitical shocks sent Brent crude to a settlement of $115.32 per barrel, up $1.44 on the day, while WTI December…