Oil prices remain steady as markets consider potential supply disruptions from Russia following Ukrainian drone attacks on refineries, as well as an expected interest rate cut by the Federal Reserve. Brent crude is down 0.3% at $67.24 per barrel, and West Texas Intermediate is down 0.3% at $63.11. Goldman Sachs estimates the attacks have reduced Russian refining capacity by 300,000 barrels per day.

ExxonMobil is launching an automatic voting mechanism that allows retail investors to vote in line with board recommendations during annual meetings. The move was approved by the Securities and Exchange Commission provided the company meets conditions such as sending annual reminders to participants, and it aims to increase retail investor turnout and counter activist campaigns. Some activists, however, are concerned that the mechanism could give Exxon an unfair advantage in corporate elections.

Strategists from Macquarie anticipate a significant US crude draw this week, forecasting a decrease of 6.4 million barrels in US crude inventories for the week ending Sept. 12, following a 3.9 million barrel build the previous week. The strategists attribute the expected draw to a sharp increase in exports and a reduction in imports, alongside a slight decrease in refinery crude runs, but they caution that the timing of cargoes could introduce volatility into this week's figures.

Chord Energy has agreed to purchase Williston Basin assets from ExxonMobil's XTO Energy for $550 million, acquiring 48,000 net acres with an 86% operated working interest and 100% held by production. The transaction, effective from Sept. 1 and expected to close by year-end, will expand Chord's presence in the region and is designed to integrate with its existing operations in the basin. The assets are expected to produce 9,000 barrels of oil equivalent per day and add 90 net drilling locations.

California Resources has agreed to acquire Berry Corp. in an all-stock deal valued at $717 million, including net debt, which will expand CRC's presence in California and provide access to Berry's Uinta Basin assets in Utah. The deal, approved unanimously by both boards and projected to close in the first quarter of 2026, will give Berry shareholders a 15% premium and see CRC shareholders owning 94% of the combined entity.

The International Energy Agency reports that the natural decline rate of oil and natural gas field output is increasing because of a reliance on shale and deepwater resources. The average annual post-peak decline rate is 5.6% for oil and 6.8% for natural gas, the IEA says, noting that 80% of oil production and 90% of natural gas production come from fields that have passed peak production.

The US Energy Information Administration's September Short-Term Energy Outlook projects West Texas Intermediate spot prices to average $64.16 per barrel in 2025 and $47.77 per barrel in 2026. These figures are slightly higher for 2025 but unchanged for 2026 from the August forecast. Other forecasts vary, with BMI expecting WTI to average $65 per barrel in 2025, Standard Chartered predicting $58 per barrel in 2025 and $75 per barrel in 2026, and J.P. Morgan estimating $63 per barrel in 2025 and $54 per barrel in 2026.

Intermoor and Jumbo Offshore have formed an alliance to offer project management, engineering and installation services to the offshore oil and gas and floating wind sectors. The partnership leverages the complementary strengths of both companies to address the increasing scale and complexity of offshore projects, aiming to set new standards for deep-water mooring execution. Intermoor will manage tow-out, station keeping and hook-up operations, while Jumbo Offshore will handle the pre-lay of deepwater mooring systems.

Gate Energy has secured a contract from BP to handle the full commissioning for the Kaskida floating production unit, a deepwater project about 200 miles off the coast of Galveston, Texas. The project will require static and dynamic commissioning, systems completion management and interface coordination, and Gate will be working alongside engineering, procurement and construction contractor Seatrium.

Bechtel Energy has awarded Baker Hughes a contract to supply liquefaction equipment for the fourth train of NextDecade's Rio Grande LNG project at the Port of Brownsville in Texas. The agreement, part of a broader framework covering Trains 4 through 8, includes two Frame 7 gas turbines and six centrifugal compressors, which will add about 6 million tons per year of liquified natural gas capacity.

The American Petroleum Institute, working with experts from EnerMech, has introduced its first bolted flange joint certification program, establishing a formal industry credential to enhance safety, integrity and reliability in oil and gas operations. The program validates essential inspection and assembly skills, targeting the reduction of leaks, downtime and safety incidents caused by improperly assembled joints. This initiative is part of API's broader strategy to formalize workforce qualifications in critical operational areas.