U.S. and global oil demand growth will be smaller next year than prior forecasts, the U.S. Energy Information Administration said in its Short-Term Energy Outlook report

The purchases are part of an effort to replenish stockpiles after President Joe Biden ordered the largest ever sale from the reserve in 2022 of 180 million barrels in an effort to control fuel prices

Crude inventories fell by 1.6 million barrels to 417.5 million barrels in the week ending Sept. 13, the EIA said, compared with analysts’ expectations

Global commodity traders Gunvor and Trafigura anticipate oil prices may range between $60 and $70 per barrel due to sluggish demand from China and persistent global oversupply, executives told a conference

U.S. oil production will increase by 320,000 barrels per day (bpd) this year, reaching 13.25 million bpd, a record slightly higher than previously forecast, the U.S. Energy Information Administration (EIA) reported

Repsol is open to selling as much as a 49% interest in the assets, which include over 800 producing wells spread across about 80,000 net acres with production of about 50,000 barrels of oil equivalent per day

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 Biden administration took steps to limit both oil and gas drilling and mining in Alaska, angering state officials who said the restrictions will cost jobs and make the U.S. reliant on foreign resources

President Joe Biden’s administration finalized a range of reforms designed to boost returns and address environmental harms from drilling on public lands, a move that will increase fees for oil and gas companies that operate there

The short-term growth in global oil and liquid fuels production will be primarily driven by the United States, Guyana, Canada, and Brazil, offsetting the voluntary cuts by OPEC+, forecasted the EIA