Commercial crude oil inventories jumped 6.4 million barrels as U.S. production set new records and refinery capacity utilization rose to 89.4%.

Doug Burgum, the Secretary of the Interior, highlighted America's renewed energy dominance under President Donald Trump, amid record-breaking output and surging LNG exports. There Will Be ‘New Records Set’ Burgum hailed the Trump administration's push for energy abundance while appearing on Fox Business’ “Mornings With Maria” on Monday,

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.

U.S. oil production is expected to set a larger record this year than previously forecast, even as global oil supply outpaces fuel demand, the Energy Information Administration said in its Short-Term Energy Outlook report on Wednesday.

In today’s oversupplied oil market, the increases from the US could have global consequences. Macquarie Group Ltd., one of the few commodity trading firms to correctly predict 2023’s shale growth, says prices will have to fall into the low $50-a-barrel range before the industry pulls back.

US oil production climbed to a fresh record near 13.8 million barrels a day in August, according to a monthly government report. The number was higher than official figures previously indicated.

Lawmakers fear that escalating tensions near Venezuela could threaten vital U.S. energy supply chains, especially crude imports from Chevron’s joint ventures with PDVSA.

US production should average 13.6 million barrels per day in 2026, the EIA said Wednesday in its latest Short-Term Energy Outlook, a 100,000 bpd rise from its projection last month. Global inventories should “continue to rise through 2026, putting downward pressure on oil prices in the coming months”, the EIA added.

Russian President Vladimir Putin and Kazakh President Kassym-Jomart Tokayev will discuss gas projects and the fallout from U.S. sanctions on Russian oil companies at talks in Moscow on Tuesday and Wednesday,

US fossil fuel giants produce most of their oil and gas domestically but pay billions more in taxes overseas than they do at home because of subsidies that have only grown during President Donald Trump's second term, a report said Thursday. The analysis ...