Industry News

Rigzone delivers the latest headlines for Oil and Gas industry news; analysis of issues and events; practical technology for design, operation and maintenance; and important statistics on international markets and activity.

12/12/2018: Crude Oil Up Two-plus Percent

WTI crude oil rose by nearly 3% while the Brent contract price edged upward by more than 2%.

12/12/2018: OPEC's Unplanned Supply Losses Could Double Its Cut

Unplanned supply losses from Iran and Venezuela could effectively double the intended cutback of 800,000 barrels a day.

12/12/2018: Market Could be Oversupplied by 2020

The market could be quite tight in the first half of 2019 but oversupplied again by 2020.

12/12/2018: Oil Stays Below $52

Oil traded below $52 a barrel after U.S. crude inventories slid less than expected and added to concerns that the OPEC+ coalition's output cuts won't be enough to avert a supply glut.

12/11/2018: Oil and Gas Futures Edge Downward

Oil and natural gas futures ended the day lower during midweek trading.

12/11/2018: Mexico Cancels Two Oil and Gas Auctions

The Mexican government canceled February bidding on two oil and gas auctions, including one which offered blocks targeting shale resources.

12/11/2018: Oil Extends Gain

Oil extended an advance after a U.S. industry report signaled a bigger than expected draw in nationwide crude inventories and as trade tensions eased between the world's two largest economies.

12/11/2018: OPEC Deal Solid Step in Right Direction

The OPEC deal was a solid step in the correct direction, according to Genscape.

12/10/2018: Crude Oil Ends the Day Higher

Both the WTI and Brent posted gains Tuesday.

12/10/2018: Hundreds of Texas Oil and Gas Workers to Lose Jobs in New Year

Layoffs are on the horizon for hundreds of oil and gas workers in Texas.