(Reuters) – Oil prices have started to fall after a decision to release 100 million barrels of oil and fuel reserves, International Energy Agency executive director Fatih Birol said on Friday. Group of Seven countries agreed on Friday on the release of 100 million barrels of diesel and crude oil from emergency reserves in a …
IEA’s Birol Says Oil Prices Starting to Fall After Reserve Release Decision Read More »
(Reuters) – Saudi Arabia is planning an offensive against Iran-backed Houthi militants in Yemen, with options being considered including a coastal push to secure the Red Sea shipping route or an assault on multiple fronts, regional and Western officials told Reuters. The operation, expected to be launched in the coming weeks, will by led by …
Saudis Plan Assault on Houthis to Break Red Sea Chokehold Read More »
(Reuters) – Massachusetts Governor Maura Healey called on the Trump administration to expedite the review of a natural gas pipeline that a unit of Canadian energy firm Enbridge is developing in New England. After opposing most new fossil fuel projects over the past decade or so, several states in the US Northeast region have become …
Massachusetts Governor Asks Trump Administration to Speed Natgas Pipeline Review Read More »
OTTAWA, ON, Oct. 2, 2026 /CNW/ — “Today, we, the leaders of the G7, convened a virtual meeting to address the deepening challenges to our energy security. Facing unprecedented volatility in oil markets—with surging prices threatening economic stability and the well-being of our citizens—we have agreed on decisive, coordinated measures to stabilise immediate energy supplies, shield …
G7 Leaders’ Statement on Global Energy Security and Market Stability Read More »
(Reuters) – A $8.4 billion oil recovery project mentioned by US President Donald Trump is not part of a strategic investment agreement between the US and South Korea, Yonhap reported on Friday, citing an industry ministry official. The official said an inquiry has been sent to the US side through communication channels, according to the …
CALGARY – It’s been a relatively quiet decade in Alberta’s oilsands, but the federal and provincial governments believe a new West Coast pipeline coupled with policy shifts might help turn up the volume. Prime Minister Mark Carney was in Fort McMurray, Alta., this week to announce the first proposal to be deemed in the national …
Another Oilsands Boom? Smith, Carney Say This Time Canada Will Be Ready Read More »
U.S. drilling activity edged lower this week as a decline in natural gas rigs outweighed another increase in oil drilling. The U.S. rig count fell by one to 598 for the week ended October 2, according to the latest Baker Hughes North America Rig Count Report. Despite the weekly decline, the U.S. has 49 more …
U.S. Rig Count Slips to 598 as Gas Drilling Pulls Back Read More »
(Reuters) – President Donald Trump said on Friday that a US trade deal with South Korea now includes $8.4 billion for an oil recovery project. “The Republic of Korea Deal keeps getting BETTER! 8.4 Billion Dollars for an enhanced Oil Recovery Project. Producing more Oil and Gas means American Energy Dominance and Energy Security in …
Trump Says US Deal With South Korea Includes $8.4 Billion for Oil Recovery Read More »
(Reuters) – Brazilian state-run oil company Petrobras said on Friday it had made a new oil discovery in ultra-deep waters off Amapa state, an area known as equatorial margin that it considers its most promising new oil frontier. According to a securities filing, an oil-bearing interval was found in the Morpho well, marking a new …
Brazil’s Petrobras Makes New Oil Discovery Off the Coast of Amapa Read More »
Governments are facing US pressure to release some diesel reserves By Suzanne Lynch The transatlantic relationship has run into a fresh roadblock — this time over energy. As diesel prices soar, US President Donald Trump has been pressuring European governments to release some of their strategic fuel reserves, threatening an export ban if they don’t …
Trump Turns the Screws on Europe Over Energy Prices Read More »
