Crude Oil News

Chevron Posts Record Profit https://www.rigzone.com/news/wire/chevron_posts_record_profit-31-jul-2026-184266-article/?rss=true Chevron Corp. posted record second-quarter results that outperformed expectations.

USA Crude Oil Stocks Drop More Than 7MM Barrels WoW https://www.rigzone.com/news/usa_crude_oil_stocks_drop_more_than_7mm_barrels_wow-31-jul-2026-184269-article/?rss=true Crude oil stocks, not including the SPR, stood at 404.5 million barrels on July 24, the EIA's latest weekly petroleum status report showed.

DOE, Private Partners Launch $100B Data Center Project in Kentucky https://www.rigzone.com/news/doe_private_partners_launch_100b_data_center_project_in_kentucky-31-jul-2026-184268-article/?rss=true 'Once fully constructed in 2032, the campus will support up to 1.8 gigawatts (GW) of utility capacity and over 1.2 GW of compute capacity - backed by up to 4.6 GW of dedicated generation resources paid for and built specifically for the project'.

Ukraine Says It Attacked Lukoil Refinery https://www.rigzone.com/news/wire/ukraine_says_it_attacked_lukoil_refinery-31-jul-2026-184265-article/?rss=true Ukraine struck one of Russia's largest oil refineries.

Democrats demand information on Trump and Lutnick families' ties to critical mineral deals https://www.cnbc.com/2026/07/31/senate-democrats-trump-lutnick-critical-mineral-deals.html The senators asked the Departments of Commerce, Defense, Energy, Interior and the Export-Import Bank to preserve all records related to those deals.

Industry Groups Welcome SENRC Approval of License to Drill Act https://www.rigzone.com/news/industry_groups_welcome_senrc_approval_of_license_to_drill_act-31-jul-2026-184264-article/?rss=true 'S.5039 reauthorizes a long-standing policy that is an important framework for federal land producers', Dan Naatz, IPAA EVP and Chief Policy Officer, said.

Shell Divests Aphrodite Stake to Hungary's MOL https://www.rigzone.com/news/shell_divests_aphrodite_stake_to_hungarys_mol-31-jul-2026-184263-article/?rss=true 'Our decision to exit is driven by disciplined capital allocation and portfolio choices, as we focus on opportunities that strengthen our integrated LNG value chain'.

Oil Down, Still on Track for 20 Pct Monthly Gain https://www.rigzone.com/news/oil_down_still_on_track_for_20_pct_monthly_gain-31-jul-2026-184262-article/?rss=true Both Brent and West Texas Intermediate oil prices were down on Friday but still on track for notable monthly gains, Naeem Aslam, CIO at Zaye Capital Markets, outlined.

BP Launches Sale of North Sea Business https://www.rigzone.com/news/bp_launches_sale_of_north_sea_business-31-jul-2026-184261-article/?rss=true 'The decision forms part of BP's ongoing portfolio review and reflects its disciplined approach to capital allocation - all in service of creating a simpler, stronger and more valuable company'.

Exxon and Chevron profits surge on rising oil prices due to Iran war https://www.cnbc.com/2026/07/31/exxon-xom-chevron-cvx-q2-earnings.html ExxonMobil and Chevron on Friday reported second-quarter profits that surged on rising oil prices due to the Iran war.

Saudis Propose to Lead Maritime Security Alliance https://www.rigzone.com/news/wire/saudis_propose_to_lead_maritime_security_alliance-31-jul-2026-184260-article/?rss=true Saudi Arabia discussed with military representatives of 43 countries the formation of a multinational alliance charged with protecting maritime navigation, hoping to counter a blockade the Houthis imposed on the kingdom.

Oil prices ease as recovering Hormuz Strait traffic tempers war premium https://www.cnbc.com/2026/07/31/oil-prices-today-brent-wti-hormuz-trump-iran-.html Commonwealth Bank of Australia said in a note on Friday that stronger oil flows through the Strait of Hormuz had eased market concerns after U.S.-Iran strikes earlier this week.

Saudi Gulf Oil Loadings Still Subdued https://www.rigzone.com/news/wire/saudi_gulf_oil_loadings_still_subdued-30-jul-2026-184256-article/?rss=true Oil loadings by Saudi Arabia and other major producers inside the Persian Gulf remained subdued.

Oil Drops Amid Mixed Supply Signals https://www.rigzone.com/news/wire/oil_drops_amid_mixed_supply_signals-30-jul-2026-184259-article/?rss=true Oil prices fell as increased shipping through the Strait of Hormuz offset escalating geopolitical tensions.

The oil majors are about to report booming profits. These smaller stocks may be better buys https://www.cnbc.com/2026/07/30/the-oil-majors-are-about-to-report-booming-profits-these-smaller-stocks-may-be-better-buys.html Several renewable and AI-linked stocks that may be better buys than the majors right now, according to Wall Street.

BP Starts Up US Gulf Expansion Project https://www.rigzone.com/news/bp_starts_up_us_gulf_expansion_project-30-jul-2026-184258-article/?rss=true BP has raised the production capacity of the Atlantis deepwater field by 10,000 barrels of oil equivalent a day.

Eni Opens Supercomputing Capabilities to 'Innovation Ecosystem' https://www.rigzone.com/news/eni_opens_supercomputing_capabilities_to_innovation_ecosystem-30-jul-2026-184257-article/?rss=true Eni announced that it is opening up its supercomputing capabilities to the 'innovation ecosystem'.

Petrobras Squeezes More Oil from Mega Platforms https://www.rigzone.com/news/wire/petrobras_squeezes_more_oil_from_mega_platforms-30-jul-2026-184255-article/?rss=true Brazil's national oil company is producing more than the designed capacities of offshore platforms deployed at Buzios and other deepwater fields.

Ksi Lisims Positions Canada as Long-Term LNG Supplier to Germany https://www.rigzone.com/news/ksi_lisims_positions_canada_as_longterm_lng_supplier_to_germany-30-jul-2026-184254-article/?rss=true 'This milestone marks the first major long-term LNG supply arrangement between Canada and Germany and represents a significant step in strengthening the strategic energy partnership between both countries'.

USA Gasoline Shows Rising Price Trend https://www.rigzone.com/news/usa_gasoline_shows_rising_price_trend-30-jul-2026-184253-article/?rss=true The U.S. Energy Information Administration's latest gasoline fuel update showed a rising price trend for U.S. regular gasoline.