U.S. drilling activity edged lower this week as a decline in natural gas rigs outweighed another increase in oil drilling. The U.S. rig count fell by one to 598 for the week ended October 2, according to the latest Baker Hughes North America Rig Count Report. Despite the weekly decline, the U.S. has 49 more …
U.S. Rig Count Slips to 598 as Gas Drilling Pulls Back Read More »
(Reuters) – President Donald Trump said on Friday that a US trade deal with South Korea now includes $8.4 billion for an oil recovery project. “The Republic of Korea Deal keeps getting BETTER! 8.4 Billion Dollars for an enhanced Oil Recovery Project. Producing more Oil and Gas means American Energy Dominance and Energy Security in …
Trump Says US Deal With South Korea Includes $8.4 Billion for Oil Recovery Read More »
(Reuters) – Brazilian state-run oil company Petrobras said on Friday it had made a new oil discovery in ultra-deep waters off Amapa state, an area known as equatorial margin that it considers its most promising new oil frontier. According to a securities filing, an oil-bearing interval was found in the Morpho well, marking a new …
Brazil’s Petrobras Makes New Oil Discovery Off the Coast of Amapa Read More »
Governments are facing US pressure to release some diesel reserves By Suzanne Lynch The transatlantic relationship has run into a fresh roadblock — this time over energy. As diesel prices soar, US President Donald Trump has been pressuring European governments to release some of their strategic fuel reserves, threatening an export ban if they don’t …
Trump Turns the Screws on Europe Over Energy Prices Read More »
The Senate reached a bipartisan deal this week, but there’s no guarantee lawmakers will finish the job. By Ari Natter US lawmakers are the closest they’ve been in years to fixing the nation’s notoriously slow process for approving key energy infrastructure. After months of painstaking negotiations, a bipartisan group of senators reached a deal on …
US Inches Closer to Breaking Permit Logjam for Key Energy Projects Read More »
PARIS, Oct 2 (Reuters) – The G7 group of nations will undertake a co-ordinated release of 100 million barrels of diesel and other reserves through the International Energy Agency (IEA) to try and stabilise world energy markets, according to a joint G7 leaders’ statement on Friday. “We will implement our commitments with a coordinated release …
G7 to Release 100 Million Barrels of Diesel and Other Reserves Through IEA Read More »
WASHINGTON, Oct 2 (Reuters) – California, New York and two dozen other states, cities an counties on Friday sued the U.S. Transportation Department over its decision this week to finalize sharply lower vehicle fuel economy standards in a win for gas-powered vehicles. The revised standards seek to reverse former President Joe Biden’s push toward greater …
States, Cities Sue US Agencies Over Weaker Vehicle Fuel Economy Rules Read More »
By Alex Lawler and Olesya Astakhova Review deadline slips to mid-November, two sources say Not all members submitted data, sources say Timeline allows OPEC+ to consider findings at next group meeting LONDON/MOSCOW, Oct 2 – An OPEC+ review to help to determine members’ 2027 oil output quotas has been delayed after the US-Israeli war on …
OPEC+ Delays Oil Capacity Review After Iran War Disrupts Expansion Plans, Sources Say Read More »
EnergyNow Morning Oil Price Report Report Date & Time: October 2, 2026 – 7:52 a.m. MDT – Using Trading View Prices See Up-To-Date Prices Here Summary WTI crude is trading around US$89.28 per barrel, down US$3.59, or 3.87%, from Thursday’s official settlement of US$92.87. Oil has reversed much of Thursday’s rally as markets respond to …
Oil Prices Slide as Emergency Fuel Reserve Talks Offset Middle East Supply Risks Read More »
By EnergyNow Media It has been an unusually consequential week for Canadian energy. In the space of just a few days, Canada saw a final investment decision to double the country’s largest LNG export facility, progress on moving more crude through the Trans Mountain system, a $1.2-billion federal commitment to marine protection, and, most significantly, …
