Friday, June 20, 2025
Biggest U.S. oil stockpile drop in a year shows tightening market- oil and gas 360

Biggest U.S. oil stockpile drop in a year shows tightening market

(World Oil) – U.S. crude stockpiles declined the most in almost a year last week, signaling a tighter market for American oil just as the Israel-Iran conflict threatens supplies from the Middle East. Oil inventories dropped 11.5 million barrels in the week through June 13, the steepest slide since late June 2024, according to data released Wednesday by the U.S.

Russia eyes joint effort to steady shaky oil prices- oil and gas 360

Russia eyes joint effort to steady shaky oil prices

(Oil Price) – Russia believes that Moscow, its OPEC+ ally Saudi Arabia, and the United States could work together to stabilize the oil market if necessary, the head of Russia’s sovereign wealth fund told Reuters on Thursday. “There was an example when (Russian) President Putin, (U.S.) President Trump and (Saudi) Crown Prince Mohammed bin Salman played a key role in stabilising markets,” Dmitriev,

U.S. Senate bill proposes $1 billion tax break for oil and gas producers- oil and gas 360

U.S. Senate bill proposes $1 billion tax break for oil and gas producers

(World Oil) – Senate Republicans included a tax break estimated to be worth more than $1 billion for oil and gas producers in their version of President Donald Trump’s sprawling fiscal package. The provision would allow energy companies subject to a 15% corporate alternative minimum tax to deduct certain drilling costs when calculating their taxable income. Companies including ConocoPhillips, Ovintiv Inc. and Civitas