Viper Energy Inc., the mineral and royalty unit of Diamondback Energy Inc., agreed to buy Sitio Royalties Corp. for about $4.1 billion, including debt, in the latest deal focused on the Permian basin. SourceContinue Reading

G7 Oil Price Cap at the Heart of New Sanction Debate | OilPrice.com RFE/RL staff RFE/RL journalists report the news in 21 countries where a free press is banned by the government or not fully established. We provide what many… More Info Premium Content By RFE/RL staff – Jun 03, 2025, 12:00 PM CDT The...Continue Reading

Oil prices posted modest gains Tuesday, fueled by renewed geopolitical risk and signs of tightening supply, though upside may be limited by ongoing uncertainty around Iran and soft macroeconomic indicators. As of late morning, WTI crude was trading at $63.76 (+1.98%), and Brent at $65.74 (+1.72%). Both benchmarks built on Monday’s nearly 3% rally after...Continue Reading

Venezuela Defies U.S. Sanctions as Oil Exports Hold Steady | OilPrice.com Julianne Geiger Julianne Geiger is a veteran editor, writer and researcher for Oilprice.com, and a member of the Creative Professionals Networking Group. More Info Related News By Julianne Geiger – Jun 03, 2025, 10:30 AM CDT Venezuela’s oil exports remained largely unchanged in May...Continue Reading

bp and partners have approved the next phase of development of the Shah Deniz gas field. The $2.9 billion Shah Deniz Compression project is the field’s third phase of development. In addition to the project approvals, bp today completed an agreement with SOCAR to access two blocks in the Caspian Sea for exploration and development....Continue Reading

Liquefied natural gas (LNG) exports out of Russia fell by 3% in January through May from a year earlier, amid tighter EU restrictions on transshipment and U.S. sanctions on a new LNG project that can’t find buyers yet. Russia’s LNG shipments dipped by 3% year-over-year to 13.2 million tons in the first five months of...Continue Reading

The OPEC+ Nations That Were Reluctant to Boost Production | OilPrice.com Charles Kennedy Charles is a writer for Oilprice.com More Info Related News By Charles Kennedy – Jun 03, 2025, 9:30 AM CDT Unlike Russia and Oman, Algeria wasn’t initially in favor of a pause in the OPEC+ oil production increases at this weekend’s meeting,...Continue Reading

The Geopolitical Risk Premium Is Here to Stay | OilPrice.com Michael Kern Michael Kern is a newswriter and editor at Safehaven.com and Oilprice.com,  More Info Premium Content By Michael Kern – Jun 03, 2025, 9:00 AM CDT While oil prices spiked due to a combination of OPEC+ underwhelming markets and wildfires in Canada, a rising...Continue Reading

Diamondback Unit to Buy Sitio Royalties in $4-Billion All-Stock Deal | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Jun 03, 2025, 8:30 AM CDT Viper Energy, a subsidiary of Diamondback...Continue Reading

Crude Processing At One of Europe’s Top Refineries Goes Offline | OilPrice.com Tsvetana Paraskova Tsvetana is a writer for Oilprice.com with over a decade of experience writing for news outlets such as iNVEZZ and SeeNews.  More Info Related News By Tsvetana Paraskova – Jun 03, 2025, 7:30 AM CDT BP’s refinery in Rotterdam had both...Continue Reading