Chevron said on Wednesday that capital expenditure for 2026 will be between $18 billion and $19 billion as the oil major focuses on production in the U.S. and investments connected to a recently-acqui... ...

Obsidian Energy Announces Closing of $175 Million, 5-Year Senior Unsecured Notes Due in 2030 and Redemption of Existing $80.8 Million Senior Unsecured Notes Due in 2027December 03, 2025 5:00 PM EST | Source: Obsidian Energy Ltd.Calgary, Alberta--(Newsfile Corp. - December 3, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") announces that it has successfully closed the previously announced private placement offering (the "Offer ...

Perenco has boosted its oil production capacity in Chad to more than 18,000 barrels per day (bpd) following the completion of a major drilling campaign at the Badila and Mangara fields, the company announced this week. The increase surpasses Perenco’s original target of 16,000 bpd when the fields resumed operations three years ago. The campaign at Badila included 12 new wells, adding a peak 7,000 bpd of production. Of these, eight were horizontal wells targeting the Upper Cretaceous reservoir, alongside t ...

Core Insights - Crude oil and gasoline prices exhibited mixed performance, influenced by dollar weakness and geopolitical tensions, while inventory reports indicated unexpected increases in stockpiles [2][4]. Group 1: Market Performance - January WTI crude oil closed up by $0.31 (+0.53%), while January RBOB gasoline closed down by $0.00031 (-0.17%) [1]. - The dollar index (DXY) fell to a 5-week low, providing support for energy prices [2]. Group 2: Geopolitical Factors - Geopolitical risks are bolstering crude prices, with threats from Russian President Putin regarding attacks on ships aiding Ukraine [3]. - Recent drone attacks on Russian tankers in the Black Sea have heightened tensions [3]. Group 3: Supply Dynamics - Russian crude oil product shipments dropped to 1.7 million barrels per day (bpd) in early November, the lowest in over three years, due to ongoing conflicts and targeted attacks on refineries [4]. - New US and EU sanctions on Russian oil companies and infrastructure are further constraining Russian oil exports [4]. Group 4: OPEC+ Production Strategy - OPEC+ plans to pause production increases during Q1 of 2026, following a production rise of 137,000 bpd in December [5]. - The International Energy Agency (IEA) forecasts a record global oil surplus of 4.0 million bpd for 2026, prompting OPEC+ to restore 2.2 million bpd of production cuts made in early 2024 [5].

Key Takeaways Chevron and the Syrian Petroleum Company met to discuss offshore oil and gas exploration.Syria aims to rebuild energy infrastructure damaged during the civil war.Improved gas supply and talks with CVX reflect efforts to boost national power capacity.Chevron Corporation (CVX) , a U.S. integrated energy giant, and the Syrian Petroleum Company recently met with President Ahmed al-Sharaa to discuss the possibility of working together on the exploration of offshore oil and gas fields in Syria, per ...

Core Viewpoint - The investment community is showing interest in SLB, a leading oil field services company, due to its compelling valuation and potential benefits from customer spending and capital expenditures [1][2]. Company Insights - SLB is currently valued at 13.8 times earnings and offers a 3% yield, despite being down 3% year-to-date [1][2]. - The company is expected to benefit from $28 billion in capital expenditures from its top 10 customers this year, providing a favorable tailwind [2]. - SLB is recognized as a technology leader in the oil field services sector, experiencing margin expansion and strong customer retention [3]. Market Context - The energy sector is facing challenges, with crude oil prices down 16% year-to-date, but natural gas prices have increased significantly from below $2 to $5, indicating a shift in market dynamics [6]. - There is a growing demand for liquefied natural gas globally, particularly from the United States, which is positively impacting diversified energy companies like Exxon Mobil [6].

Core Viewpoint - OPEC+ has decided to halt output increases after a modest rise of 137,000 barrels per day (bpd) in December, driven by concerns over a potential glut in 2026 that could push Brent crude prices below $60 [1] Group 1: OPEC+ Output Decisions - The cartel's recent output increase of 137,000 bpd in December is seen as modest [1] - Analysts express concerns that OPEC+ is facing challenges in maintaining unity amid these output decisions [1] Group 2: Market Implications - There are fears that a potential oversupply in 2026 could lead to a significant drop in Brent crude prices [1] - The decision to limit output hikes reflects a cautious approach to prevent market instability [1]

The development of the 8.6-million-acre Vaca Muerta shale is a game changer for Argentina . Waning conventional oil and gas production from aging fields well past their prime was sharply impacting Argentina’s economy, the second largest in South America. Falling hydrocarbon production, especially for natural gas, which is an essential fuel in Argentina, forced Buenos Aires to substantially step up energy imports. This had an outsized impact on a fragile economy prone to calamitous financial collapses. Risin ...

January WTI crude oil (CLF26) today is up +0.76 (+1.30%), and January RBOB gasoline (RBF26) is up +0.00054 (+0.30%). Crude oil and gasoline prices are moving higher today due to the decline in the dollar index (DXY00) to a 5-week low.  Also, US-Russian talks failed to reach a breakthrough in ending the war in Ukraine, meaning restrictions will stay in place on Russian energy exports.  Gains in crude are limited due to a bearish weekly EIA inventory report that showed an unexpected increase in crude stockp ...

Gasoline prices fell just below $3.00 per gallon this week, their lowest level since 2021. As of Wednesday, at least 30 states saw an average the $3 mark at the pump, according to AAA data, as lower crude prices and less expensive winter blends give relief to drivers heading into the December holiday season. "With refinery maintenance largely complete and OPEC increasing oil production for December, oil prices have struggled," GasBuddy's Patrick De Haan said on Monday. "Combine those factors, and you ha ...