S&P Global Market Intelligence reported that commodity price forecasts moved higher in May as disruptions around the Strait of Hormuz continued to affect global supply chains. The firm said its Materials Price Index rose 10.7% in the first quarter of 2026 and is projected to climb 19.2% in the second quarter, more than 25% above […]
The Guardian reports that Brent crude moved back above $100 a barrel on Tuesday after new U.S. strikes on Iranian targets reduced expectations for a quick diplomatic breakthrough. The move followed a recent pullback to about $97 a barrel on Monday, when traders had responded to reports that a deal could be close. Earlier in […]
EOG Resources continues to make the Delaware Basin a core part of its West Texas operations as the company adjusts its capital plans toward oil-focused assets. According to the Midland Reporter-Telegram, Chairman and CEO Ezra Yacob said EOG is increasing oil production by 2,000 barrels per day and shifting investment toward plays with stronger oil […]
Oil & Gas 360 reports that the Permian Basin remains one of the most important oil-producing regions in the world, supported by its scale, geology, private mineral ownership structure, and continued technology gains. The basin, which spans West Texas and southeastern New Mexico, produced more than six million barrels of crude oil per day in […]
Midland Reporter-Telegram reports that Permian Basin oil producers are generally planning for moderate output growth in 2026, with ExxonMobil standing out as the largest driver of the increase. East Daley Analytics reviewed guidance from 14 public operators and estimated Permian oil production growth of 183,000 barrels per day, or 2.7%, for the year. ExxonMobil alone […]
The United States and the European Union have reached a new agreement aimed at strengthening supply chains for critical minerals used in energy, manufacturing, and advanced technologies. Reported by Oil & Gas 360, the deal is designed to reduce reliance on concentrated sources of key materials and promote more secure, diversified sourcing between the two […]
Analysis from Standard Chartered suggests that global oil markets may be settling into a higher pricing range than in recent years, with around $95 per barrel increasingly viewed as a potential equilibrium level. The bank points to stronger demand resilience, supply constraints, and ongoing geopolitical factors as key drivers supporting elevated prices. Rather than being […]
The Permian Basin continues to demonstrate a deep inventory of economically viable drilling locations, reinforcing expectations for sustained oil and gas development across West Texas and southeastern New Mexico. According to a recent industry analysis, operators still hold thousands of remaining drilling sites, supported by advances in technology and efficiency that have expanded the range […]
Oil production in Texas has reached record levels, reinforcing the United States’ position as a leading global energy supplier. According to recent data, sustained drilling activity and improved operational efficiency in key regions such as the Permian Basin have driven output higher. Producers have continued to focus on cost discipline while leveraging technological advancements to […]
Rising tensions around the Strait of Hormuz are drawing renewed attention to how differently Middle Eastern oil-producing countries could be affected by a potential disruption in this critical shipping route. The analysis highlights that while some Gulf nations rely heavily on the strait for exporting crude, others have developed alternative infrastructure that reduces their exposure. […]
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