The Organization of the Petroleum Exporting Countries (OPEC) reiterated its view that the global oil sector requires $17.4 trillion in investments by 2050, averaging $650 billion per year

U.S. oil and gas deals hit a record $51 billion in the first quarter, a continuation of last year’s fierce merger pace centered in the top U.S. shale field, data provider Enverus said

The oil company YPF announced that it will invest $5 billion this year, of which $3 billion will focus on the Vaca Muerta unconventional hydrocarbon formation

US oil and gas mergers surged last quarter with the most $1 billion plus combinations since 2014, as rising energy and share prices led to larger oilpatch deals

Oil prices are likely to be extremely volatile in the next few years, driven by supply constraints rather than demand as financing for new production evaporates in favour of renewables, U.S.-based Castleton Commodities International said

Igor Sechin, the head of Russian oil major Rosneft, said the world was facing an acute oil shortage in the long-term due to underinvestment amid a drive for alternative energy, while demand for oil continued to rise

“The pathway to net zero is narrow but still achievable. If we want to reach net zero by 2050 we do not need any more investments in new oil, gas and coal projects,” Fatih Birol, the IEA’s executive director

Exxon Mobil Corp is lowering its ambitions for oil and gas output, as it focuses on cutting costs and preserving dividends to win back investors that have soured on the company after years of overspending

Spanish wind energy group Iberdrola plans to invest 75 billion euros ($88 billion) in its renewable energy production, grids and retail operations by 2025 to capitalise on growing global demand for clean power

Israeli pipeline company EAPC said it had signed a preliminary deal to help transport oil from the United Arab Emirates to Europe via a pipeline that connects the Red Sea city of Eilat and the Mediterranean port of Ashkelon