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Oil Drops Most Since 2022 on Hormuz Chaos

10 March 2026, 8:11pm
Oil prices plunged after conflicting US signals about tanker escorts through the Strait of Hormuz rattled markets.
Read more... (source: www.rigzone.com)

Aramco CEO Warns of Oil Market Catastrophe in Prolonged War

10 March 2026, 8:00pm
Saudi Aramco's chief executive officer warned the impact on global oil markets will be 'catastrophic' the longer the disruption from the Iran war drags on.
Read more... (source: www.rigzone.com)

DOI Moves to 'Cut Red Tape' for Offshore Oil, Gas

10 March 2026, 3:31pm
'For too long, Washington red tape has strangled American energy producers and held back small businesses', Interior Secretary Doug Burgum said.
Read more... (source: www.rigzone.com)

Gulf Oil Giants Deepen Cuts

10 March 2026, 3:00pm
Oil supply cuts in the Middle East are deepening.
Read more... (source: www.rigzone.com)

Phillips 66 Names 2 Board Members after Elliott Negotiations

10 March 2026, 2:33pm
'While more work must be done, we note the team's focus on execution, capital return and the actions to enhance the company's advantaged mid-continent position', partners at Elliott said.
Read more... (source: www.rigzone.com)

Annual U.S. crude oil exports decrease for first time since 2021

10 March 2026, 2:00pm
Annual U.S. crude oil exports in 2025 decreased 3% from 2024, the first annual decrease since 2021. Exports decreased to Europe and the Asia and Oceania region, the two top regional destinations for U.S. crude oil. Despite fewer crude oil exports, U.S. crude oil imports decreased by more. Overall, U.S. net imports of crude oil—total imports minus total exports—decreased from 2.5 million barrels per day (b/d) in 2024 to 2.2 million b/d in 2025.
Read more... (source: www.eia.gov)

Woodside, Pemex Start Drilling for Trion Development Project

10 March 2026, 1:40pm
Targeted to be put into production 2028, the $7.2-billion 'ultra-deepwater' project includes a floating production unit with an output capacity of 100,000 barrels a day.
Read more... (source: www.rigzone.com)

Sparta CEO Says 'Products, Not Crude, Are the Real Story'

10 March 2026, 12:30pm
'While crude has grabbed headlines, the extreme price action is in refined products and particularly middle distillates', Sparta Commodities CEO Felipe Elink Schuurman said.
Read more... (source: www.rigzone.com)

Shell Sells Part of US Lubes Business to Monomoy for $1.3B

10 March 2026, 11:09am
'By capitalizing on a strong market opportunity, this divestment allows us to monetize an asset that is not central to Shell's lubricants portfolio in the U.S. and reinvest in opportunities that generate higher returns'.
Read more... (source: www.rigzone.com)

Market Spinning After 'Most Epic Price Reversal in Oil History'

10 March 2026, 11:02am
The market is spinning after the most epic price reversal in oil history, Phil Flynn, a senior market analyst at the PRICE Futures Group, told Rigzone on Tuesday.
Read more... (source: www.rigzone.com)

Trump Teases Early End to Iran War

10 March 2026, 8:43am
Trump said the U.S. and Israel were making significant progress in their war on Iran and could end the conflict 'very soon,' curtailing an oil-price surge.
Read more... (source: www.rigzone.com)

Aramco Raises Dividend, Launches $3B Buyback

10 March 2026, 8:32am
The increase in investor returns comes despite declines in net profit for the fourth quarter and full-year 2025 driven by lower crude oil prices, partly offset by higher crude sales volumes.
Read more... (source: www.rigzone.com)

Oil Slides Late After Massive Price Swings

9 March 2026, 8:27pm
Oil swung wildly Monday as fears over the Strait of Hormuz collided with signals the US-Iran conflict may soon wind down.
Read more... (source: www.rigzone.com)

Iran Names New Supreme Leader as Trump Downplays Oil Spike

9 March 2026, 3:14pm
Iran named the son of the late Ayatollah Ali Khamenei as its new supreme leader and President Donald Trump called $100 oil a 'small price to pay'.
Read more... (source: www.rigzone.com)

USA Crude Oil Stocks Rise Week on Week

9 March 2026, 3:04pm
Crude oil stocks, not including the SPR, stood at 439.3 million barrels on February 27, according to the EIA's latest weekly petroleum status report.
Read more... (source: www.rigzone.com)

U.S. exports of major transportation fuels in 2025 were about the same as in 2024

9 March 2026, 2:00pm
In 2025, exports of major petroleum-based transportation fuels, including distillate fuel oil, motor gasoline, and jet fuel, averaged 2.4 million barrels per day (b/d), about the same as the previous year. Distillate fuel oil, commonly sold as diesel, accounts for more than half of these exports, and the entirety of the annual decrease. Exports of gasoline and jet fuel increased slightly in 2025 over 2024. As in previous years, Mexico was the most popular destination by volume for all three fuels, especially gasoline.
Read more... (source: www.eia.gov)

Saudi Arabia Starts Oil Cuts

9 March 2026, 2:00pm
Saudi Arabia has started reducing oil production as the crucial Strait of Hormuz chokepoint remains at a near-standstill.
Read more... (source: www.rigzone.com)

Santos Greenlights Cooper Basin Infrastructure Upgrade

9 March 2026, 1:22pm
The project will replace seven aging gas-run compressor stations with one electric compressor station to 'debottleneck upstream infrastructure and unlock future production growth' from the Central Fields.
Read more... (source: www.rigzone.com)

Resource Estimates for Chevron's Aphrodite Raised

9 March 2026, 12:14pm
The best estimate of contingent gas resources on Cyprus' side of the field, located on the maritime border with Israel, has increased about 4 percent to 3.67 Tcf, according to a commissioned assessment.
Read more... (source: www.rigzone.com)

Attention Shifting to Kharg Island

9 March 2026, 12:03pm
'The island has evolved into the backbone of Iran's export system', J.P. Morgan analysts stated.
Read more... (source: www.rigzone.com)

Valero Offers $850MM Debt Instrument Sale

9 March 2026, 10:26am
Part of proceeds from the offering of senior notes, due 2036 with a 5.15 percent interest, will be used to refinance existing debt.
Read more... (source: www.rigzone.com)

Analyst Flags 'Incredible' Oil Price Moves

9 March 2026, 9:23am
'These are just incredible moves', Aaron Hill, Chief Market Analyst at FP Markets, said.
Read more... (source: www.rigzone.com)

U.S. electricity generation in 2025 hit a record, again

5 March 2026, 2:00pm
U.S. electricity net generation reached a record in 2025 based on data from our Electricity Data Browser. In 2025, the United States generated 4.43 terawatthours (TWh) of electricity, up 2.8% from 2024 generation, which previously had been the highest annual total in our Monthly Energy Review Data Browser dataset dating back to 1949.
Read more... (source: www.eia.gov)