Oil

Gulf states have a joint defense force under the Gulf Cooperation Council (GCC).

The market is expecting the EIA to report a 900.000-barrel drop in crude stockpiles for the week ended May 24.

Canadian Natural Resources agreed to buy the Canadian business of Devon Energy for C$3.8 billion ($2.8 billion). gaining heavy-oil assets in the province of Alberta.

Oil slumped as escalating trade hostilities between the U.S. and China stoked fears of slowing global growth.

Russian oil production continues to trend lower in May as exports via the Druzhba oil pipeline have been restricted due to a contamination issue.

Norway’s oil and gas companies plan to spend 17 percent more this year. at about US$21.11 billion as they step up their exploration.

Forecasters at these major oil organizations simply do not understand that we are in a new age of rapid technological advancement and innovation.

New oil and gas discovered through high-impact drilling fell by as much as 50 percent between 2014 and 2018.

OPEC and some allies including Russia are due to meet next month to discuss output policy going forward.