Business ❯ Energy Sector

Oil Industry

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Trump Administration’s First Gulf Offshore Lease Sale Nets $279 Million

The auction launches a congressionally mandated, lower-royalty program intended to revive offshore drilling.

IEA Cuts 2026 Oil Surplus Forecast as OPEC Counters With Near-Balance View

L.A. County Sues Four Oil Firms Over Hundreds of Unplugged Inglewood Wells

Suncor Sets 2026 Output at 840,000–870,000 Bpd, Cuts Capex and Increases Buybacks

EU Ambassadors Approve Final RePowerEU Text to Phase Out Russian Gas

U.S. Gas Prices Hit Four-Year Low as National Average Slips Below $3

Oil Steadies Near $62 as Oversupply Fears Check Rebound

San Diego County Passes Resolution Opposing New Offshore Drilling Off California Coast

G7, EU Weigh Full Ban on Maritime Services for Russian Oil

Kazakhstan Cuts Output as CPC Black Sea Damage Chokes Exports

U.S. Gasoline Average Falls Below $3 for First Time Since 2021

U.S. Grants Temporary Waiver for Lukoil-Branded Gas Stations Outside Russia Through April 2026

Senate Votes to Overturn ANWR Leasing Limits, Sending Repeal to Trump

Russia’s Oil Cash Crunch Deepens as Revenues Slide Despite Steady Exports

CNOOC Starts Production at Weizhou 11-4 Oilfield in Beibu Gulf

U.S. Gas Prices Drop Below $3 Average for First Time Since 2021

OPEC+ Poised to Hold Output Steady in Early 2026, Set to Approve Capacity Audit

Oil Slips on Peace-Talk Momentum and U.S. Stock Build

U.S. Gas Prices Slide Before Thanksgiving, With Half of States Under $3

Serbia’s NIS Puts Pančevo Refinery on Hot Standby as Vucic Sets 50-Day Sale Deadline