Northern Oil and Gas faces downgrade as 70% of oil production hedges pose near-term headwinds, analysts say. Northern Oil and Gas (NOG) saw its price target reduced to $35 from $37 by Raymond James, which downgraded the stock to Outperform from Strong Buy. The firm cited n
The firms aim to enhance recovery rates and infrastructure use on the Norwegian continental shelf without new major discoveries. Equinor and Aker BP announced a collaboration to accelerate oil developments and improve resource recovery on Norway’s continental shelf. The ag
WTI crude futures fell sharply after claims of a draft agreement between Washington and Tehran eased supply concerns. WTI crude oil futures settled at $96.35, down 1.94% or $1.91 for the session. The decline followed reports on Al-Arabiya TV that the US and Iran had reache
Falling inventories, reduced Middle Eastern exports, and rising demand could strain global oil supplies within months, the IEA says. Global oil markets may face severe tightening by July or August due to shrinking inventories, disrupted Middle Eastern exports, and surging
Abu Dhabi National Oil Company warns persistent geopolitical risks could curb Persian Gulf oil flows for three more years. Abu Dhabi National Oil Company CEO Sultan Ahmed Al Jaber stated that oil disruptions in the Persian Gulf could persist until at least mid-2027. The wa
National average gasoline prices hit $4.56 per gallon, up 43% year-over-year, as demand rises ahead of Memorial Day travel. Gasoline prices in all 50 US states have surpassed $4 per gallon, with the national average reaching $4.56 on Thursday. The increase marks a 43% rise
Oil prices rose on Thursday as fresh signs of trouble in Iran peace talks as the parties hit a wall over enriched uranium. WTI crude climbed 2.2% to $100.40 while Brent gained 1.8% to $106.90 as reports emerged that Iran's Supreme Leader, Mojtaba Khamenei, has drawn a hard
China boosts oil stockpiles with 430,000 barrels per day China is continuing to send crude into strategic and commercial reserves. The country likely sent 430,000 barrels per day of crude to reserves last month. This move comes despite a plunge in imports a
As the United States continues to explore its vast geothermal potential, researchers are exploring the possibility of using abandoned oil wells to produce clean energy. A growing body of literature is emerging on the topic, with many hopeful scientists worldwide promoting
The alliance aims to signal market stability despite geopolitical tensions disrupting key shipping routes. OPEC+ is expected to approve an 188,000 barrels per day increase in oil production quotas at its June 7 meeting, a move analysts say is more symbolic than substantive
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