A family operating an oil terminal in Texas was indicted for receiving shipments of smuggled oil connected to the Cartel de Jalisco Nueva Generación.

The industry is bracing for the OPEC Plus oil cartel’s meeting on Saturday, which is widely expected to further increase oil production despite weak demand.

(Reuters) -Shale producer EOG Resources said on Friday it would acquire U.S. oil and gas firm Encino Acquisition Partners for $5.6 billion, including debt, to bolster its Utica assets. The deal signed with Canada Pension Plan Investment Board (CPP) and Encino Energy will give EOG access to additional 675,

U.S. crude oil inventories fell by 2.8 million barrels, exceeding estimates for a drop of 600,000 barrels.

US drillers pumped a record amount of oil in March, but the final number came in lower than government figures previously indicated.

Nigeria's Dangote oil refinery will import at least five million barrels of U.S. WTI crude oil in July, three trading sources told Reuters, continuing its buying spree after a potential record tally in June.

Crude prices remain rangebound as traders await decisive signals from OPEC+ and policy shifts, despite bullish inventory data and escalating supply risks.

From Athens to New York, oil tanker companies from Group of Seven nations are flocking back to the Russian oil trade.