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Oil prices rebounded in early Asian trade after OPEC+ chose to keep output steady through the first quarter of 2026.

Oil prices rise as OPEC+ holds firm on output through Q1 2026

Oil prices rebounded in early Asian trade on Monday following the latest OPEC+ meeting, as traders responded to the producer group’s decision to hold output steady through the first quarter of 2026.

At the time of writing, West Texas Intermediate crude stood at $59.32, up 1.32%, while Brent crude had climbed to $63.16, up 1.25%

The bounce reflects relief over the group’s cautious stance, with OPEC+ reaffirming its plan to maintain current production levels rather than raise output further. The move had been expected and is seen as an attempt to guard against a supply glut.

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Source: yahoo!finance

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U.S. natural gas pipelines are seeing their biggest expansion since 2008, driven by surging LNG, data-center, and manufacturing.

Permian gas wave sparks biggest pipeline buildout since the shale boom

Growing domestic and export demand for Permian’s natural gas is pushing pipeline developers to invest in new pipeline capacity in the U.S. Gulf Coast.

Chemical and manufacturing industries and data centers looking for reliable energy supply drive increased domestic consumption, while the booming LNG exports from the Texas and Louisiana coasts, and at least half a dozen new export plants expected to start up by the end of the decade, are prompting new-built or expanded links to feed gas to the LNG facilities.

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Source: Oil Price

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ExxonMobil will buy a 40% stake in the new Bahia NGL pipeline from Enterprise Products Partners to boost Permian gas takeaway capacity.

Exxon to buy stake in Enterprise’s new Permian NGL pipeline

Oil and gas supermajor ExxonMobil will buy a 40% stake in the new Bahia natural gas liquids (NGL) pipeline from Enterprise Products Partners as producers and pipeline operators expand gas takeaway capacity in the Permian basin.

Enterprise Products Partners on Thursday said it had entered into an agreement with ExxonMobil, which will acquire a 40% undivided joint interest in Enterprise’s Bahia NGL pipeline that is currently being commissioned.

The closing of the transaction is subject to regulatory approvals and is expected by early 2026, Enterprise said.

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Source: Oil Price

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Saudi Aramco wants to become a major liquefied natural gas player, especially in the US as its LNG capacity nearly doubles.

Saudi Aramco to sign US LNG agreements during crown prince’s visit to Washington, sources say

Saudi Aramco is set to sign two U.S. liquefied natural gas supply deals with Woodside Energy and Commonwealth LNG when Saudi Arabia’s Crown Prince Mohammed bin Salman visits Washington next week, sources familiar with the matter told Reuters.

The world’s largest oil exporter, Saudi Aramco, wants to become a major liquefied natural gas player, especially in the United States, where LNG capacity is set to almost double over the next four years. It has already signed deals with other U.S. players, including NextDecade’s Rio Grande LNG.

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Source: Oil & Gas 360

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The IEA predicts an increase in oil and gas consumption through 2050, with the US set to remain the world’s largest producer.

IEA predicts increase in oil and gas consumption by 2050

The International Energy Agency’s (IEA) World Energy Outlook predicts an increase in oil and gas consumption through 2050, with the US set to remain the world’s largest producer.

The IEA projected that oil demand could reach around 113 million barrels per day (mbbl/d) by mid-century, an increase of roughly 13% from 2024 consumption.

The agency also predicted that global liquefied natural gas (LNG) capacity could expand to roughly 1.02 trillion cubic metres.

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Source: yahoo!finance

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The total number of active drilling rigs for oil and gas in the US rose this week, Baker Hughes reported Friday.

Oil and gas rig count ticks up in the US as production hits new high

The total number of active drilling rigs for oil and gas in the United States rose this week, according to new data that Baker Hughes published on Friday.

The total rig count in the US rose to 548 this week, according to Baker Hughes, down 37 from this same time last year.

The number of active oil rigs stayed the same in the reporting period, according to the data, at 414. Year over year, this represents a 65-rig decline. The number of gas rigs rose by 3 to 128, which is 26 more than this time last year. The miscellaneous rig count fell by 1 to 6.

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Source: Oil Price

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British oil giant BP on Tuesday reported third-quarter net profit of $2.21 billion, beating analyst expectations.

BP beats third-quarter profit expectations on higher oil and gas production

British oil giant BP on Tuesday reported stronger-than-expected third-quarter profit as higher crude and gas production outweighed a weak oil trading result. Does BP beats third-quarter? Let’s see.

The London-listed oil and gas major posted underlying replacement cost profit, used as a proxy for net profit, of $2.21 billion for July-September period. That beat analyst expectations of $2.03 billion, according to an LSEG-compiled consensus.

BP’s third-quarter net profit came in at $2.3 billion last year and $2.35 billion in the second quarter of 2025.

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Source: CNBC

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ExxonMobil acquired 80,000+ net acres in the Permian Basin from China’s Sinochem, boosting its U.S. oil footprint.

ExxonMobil adds to Permian portfolio with 80,000-acre buy

ExxonMobil adds more than 80,000 net acres in the Permian basin from Chinese state-owned conglomerate Sinochem, the US supermajor revealed Friday in its quarterly earnings report.

The deal was struck sometime in the third quarter, according to them, which did not reveal specific financial terms for the agreement.

However, chief financial officer Kathy Mikells said ExxonMobil made “a couple of acquisitions” in the quarter that totalled $2.4 billion.

“The transaction provides control of drilling locations and opportunities to further deploy our technology to drive greater returns,” ExxonMobil chief executive Darren Woods said on Friday during the company’s third quarter earnings call.

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Source: upstream

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Energy Secretary Chris Wright said the US is prepared to sell more oil and natural gas to China if Beijing cuts back on purchases from Russia.

USA Energy Sec says USA is ready to sell more oil, gas to China

Chris Wright, the USA Energy Sec is saying that the US is ready to sell more oil and natural gas to China if Beijing reduces its purchases from Russia.

“There’s so much space for mutually beneficial deals between the US and China,” Wright said Thursday during a Bloomberg Television interview, noting that the US is the world’s largest oil and gas exporter, while China is the biggest importer.

The energy secretary plans to travel to Asia within weeks, or possibly sooner, following President Donald Trump trip to the continent this week.

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Source: Rigzone

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Chevron CEO Mike Wirth discusses how US energy dominance ties to national security while praising Trump-era policies.

Chevron CEO applauds Trump administration’s energy policy shift during Permian Basin tour

In an exclusive conversation with FOX Business’ Maria Bartiromo during a tour of the Permian Basin, Chevron CEO Mike Wirth said America’s vast energy resources are not just an economic advantage – but also a matter of national defense – while praising President Donald Trump’s energy initiatives.

Wirth said, “Energy security and national security are linked,” in a preview of his interview on “Sunday Morning Futures,” which will air in full on “Mornings with Maria” Monday.

“He continued that an abundance of natural resources blesses the U.S.” “And we now have an administration that wants to see the energy industry invest in those resources to make sure that America’s energy strength translates into economic strength and competitiveness and, importantly, security.”

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Source: Fox Business

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