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Goldman Sachs says Brent crude prices will rise to $86 per barrel this summer amid strong consumer demand, making a sizeable deficit in Q3

Goldman Sachs Sees Oil Prices Rising to $86 This Summer

Story By Tsvetana Paraskova for Oilprice.com| Brent crude prices are set to rise to $86 per barrel this summer amid strong consumer...

The Iranian President’s death is unlikely to affect relations with Israel since hardliners are almost certain to remain in control in Tehran

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Will Iranian President’s Death Affect Israel Conflict, Oil and Gas?

Story by Andreas Exarheas|RigZone.com|The Iranian President’s death is unlikely to affect relations with Israel since hardliners are almost certain to remain in...

Russia’s April exports of oil and petroleum products dropped to levels last seen in late 2023 putting pressure on the nation’s oil revenues

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Russian Oil Revenue Hit as Exports Drop to 5-Month Low, IEA Says

by Bloomberg| Bloomberg News, via RigZone.com | Russian April exports of crude and petroleum products dropped to levels last seen in late...

Analysts at J.P. Morgan said they expect the OPEC alliance will likely keep oil production targets unchanged when ministers meet on June 1.

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JP Morgan Analysts Look at Next OPEC Meeting

Story by Andreas Exarheas| RigZone.com |In a report sent to Rigzone late last week, analysts at J.P. Morgan said they now expect the...

Norway finalized the field development plan for a new North Sea oil and gas field that will be tied back to the existing Brage platform

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Norway Plans to Develop a New $570-Million Oil and Gas Field

Brage is a producing conventional oil field located in shallow water in Norway. The Brage conventional oil field recovered 89.79% of its...

Iranian state media confirmed an attack by Israel in the early hours of Friday and said the “sabotage” operation involving drones had failed.

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Iran Acknowledges Drone Attack by Israel and Says It Failed

by Bloomberg|P.Sykes, A.Shahla, E.Bronner|via RigZone.com| Iranian state media confirmed an attack by Israel in the early hours of Friday and said the...

The seizure of a container ship by Iran in the Strait of Hormuz on Saturday threatens trade lanes in the Middle East and Red Sea

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An Already Bad Situation in the Red Sea Just Got Worse

The Red Sea is a sea inlet of the Indian Ocean, lying between Africa and Asia. Its connection to the ocean is in the south, through the Bab-el-Mandeb Strait and the Gulf of...