The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

EOG Resources said on Friday it is acquiring U.S. oil and gas producer Encino Acquisition Partners for $5.6 billion, including debt, to strengthen its Utica shale footprint.

Again Capital's John Kilduff discusses the potential downside risks for oil prices, including OPEC+ increasing output again, fresh sanctions on Russian crude, and a potential Iran nuclear deal leading to more Iranian oil hitting the market.

From Athens to New York, oil tanker companies from Group of Seven nations are flocking back to the Russian oil trade.

U.S. crude oil inventories fell by 2.8 million barrels, exceeding estimates for a drop of 600,000 barrels.

The lawsuit filed in state court this week says the companies knew that their products have altered the climate, including contributing to a 2021 heat wave in the Pacific Northwest that killed 65-year-old Juliana Leon, and that they failed to warn the public of such risks.

Experts said it is the first wrongful death case targeting fossil fuel companies over their role in global warming.

For oil and gas workers, heat exposure can turn deadly. The industry is trying to tank a federal rule intended to help. The industry hopes its push will find favor with the Trump administration, which has pledged to eliminate barriers to fossil fuel production and dismantle policies to tackle climate change, writes Ariel Wittenberg.

Oil industry opposition to a planned OSHA rule to limit heat deaths comes as oil and gas workers face increasingly dangerous conditions

Russia has increased supplies of its oil from the Arctic to Syria, which needs the feedstock for its refineries, according to shipping data cited by an industry source and LSEG data.