(Oil Price) – Morgan Stanley is merging its Global Energy and Global Power & Utilities investment banking teams into a single worldwide unit, a move aimed at sharpening its coverage of clients across oil, gas, electricity, and renewables, Reuters reported on Wednesday. According to an internal memo seen by Reuters, the bank will operate the new Global Power and Energy group under
(World Oil) – Weatherford International plc has been awarded a three-year, $147 million contract by Petrobras to deliver Tubular Running Services (TRS) across the company’s offshore drilling operations in Brazil. The contract, secured through an open tender, highlights Petrobras’ continued reliance on Weatherford’s portfolio of TRS technologies to improve safety, efficiency, and reliability in well construction. Under the agreement, Weatherford
(Oil Price) – Chevron and state-owned Israel Natural Gas Lines Ltd have signed an agreement to build a natural gas pipeline from Israel’s giant Leviathan gas field to Egypt, Leviathan project participant NewMed Energy has said. Chevron’s unit Chevron Mediterranean Limited, the operator of the Leviathan Project, agreed with Israel Natural Gas Lines to provide transmission services for the flow of natural
(World Oil) – Independent oil and gas producers remain the backbone of U.S. upstream activity, according to a new study by Rystad Energy commissioned by the American Exploration & Production Council (AXPC). The report underscores the sector’s outsized role in driving production, jobs and government revenue. From 2022–2024, onshore independents accounted for more than 85% of U.S. crude and condensate output
(Investing) – NEW YORK – Oil prices eased on Wednesday after data showed an increase in U.S. diesel stockpiles, stoking worries about demand, as investors awaited the U.S. Federal Reserve’s decision on interest rates. Brent crude futures lost 44 cents, or 0.64%, to $68.03 a barrel by 11:29 a.m. EDT (1529 GMT) while U.S. West Texas Intermediate crude futures were also down 44 cents,
Weekly Crude Oil Storage as of September 12, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 9.3 million barrels from the previous week. At 415.4 million barrels, U.S. crude oil inventories are 5% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
