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Oil News

EIA: Brent crude prices to average ‘just about USD50 per barrel in 2026’

2025-08-13T14:31:00+01:00

The US Energy Information Administration (EIA) expects a significant decline in the price of oil as growth in the global supply vastly surpasses growth in demand for petroleum products.

UK: Industry urges tax reform amid warning of 20 percent offshore workforce decline

2025-06-05T08:58:00+01:00

Offshore Energies UK (OEUK), a trade association, has called for the government to remove the windfall tax on oil and gas profits by 2026. Meanwhile, Robert Gordon University believes the country could lose up to 20 percent of its offshore energy workforce by 2030 without urgent intervention.