Oil & Gas 

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Latest news on oil and gas, covering crude oil prices, Brent and WTI benchmarks, OPEC and OPEC+ decisions, natural gas, refining, pipelines, exploration and oil companies.

Oil remains the world's biggest traded commodity and a cornerstone of the global energy system, with production of around 100 million barrels a day. Natural gas and liquefied natural gas (LNG) play a growing role alongside it. Major companies such as ExxonMobil, Shell, BP, Chevron, TotalEnergies and Saudi Aramco sit alongside national oil companies and independent producers.

Prices are shaped by OPEC+ production decisions, sanctions, geopolitical tension affecting supply routes, shale output and global demand. Companies must balance traditional exploration and drilling with pressure to cut emissions and invest in cleaner energy. Debates over peak oil, the energy transition and energy security continue, while oil services firms, refiners and pipeline operators all feel the effects of market swings.

The industry touches millions of lives, from offshore workers in the North Sea to engineers in the Texas shale fields and the Gulf. Cities such as Aberdeen, Houston and Dubai have been shaped by it. Fuel and heating costs affect household budgets, while local communities weigh jobs and investment against environmental concerns.

The modern industry began with the 1859 oil well at Titusville, Pennsylvania, followed by major discoveries in Texas, the Middle East and the North Sea. OPEC was founded in 1960, and the 1970s oil crisis showed how global events can shock prices. Hydraulic fracturing and deep-water drilling have since opened new reserves.

NewsNow's oil news feed brings together the latest headlines on oil prices, gas markets, OPEC, refining, pipelines, exploration and energy companies from respected sources.