Shell and Exxon warned of weaker Q2 earnings due to lower oil and gas prices, with Exxon expecting a $1.5 billion hit.

Oil rose 1% on Monday as signs of strong demand outweighed the impact of OPEC+ hiking output more than expected for August, as well as concern about the potential impact of U.S. tariffs.

Oil futures gain a few cents in a choppy session marked by a large 7.1 million barrel build in U.S. crude stocks and continuing uncertainty as President Trump puts tariffs back on traders' radars. "We

BP and Shell have signed new deals with Libya’s NOC to explore and assess oil and gas fields, signaling Big Oil’s broader return to the country after years of instability.

Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact of U.S. tariffs, with prices rising as a tight physical market lent support.

The administration is targeting key EU greenhouse-gas regulations in trade negotiations with Europe.

Tucked inside the so-called “Big Beautiful Bill” is language that will increase offshore oil and gas royalties shared between Washington and Gulf Coast states. Originally passed in 2006, the Gulf of Mexico Energy Security Act, or GOMESA, will now dedicate 37.5% of royalties to Louisiana, Texas, Mississippi and Alabama.

A $745 million win against Chevron is a landmark victory, but for Louisiana attorney John Carmouche, it’s just one battle in a much larger war. For years, he and his firm have been fighting to make Big Oil pay for its role in the state's coastal erosion crisis.

Oil on Monday shrugged off the impact of OPEC+ hiking output more than expected for August as well as concern about the potential impact of U.S. tariffs, with prices mostly reversing early losses as a tight physical market lent support.

The shale boom made the U.S. the world’s top oil producer in recent years, ahead of Saudi Arabia and Russia. But with many of the richest shale basins from West Texas to North Dakota maturing and the quality of remaining drilling locations diminishing, companies are directing billions of dollars toward South America’s offshore bounties.