OIH Stock Recent News

Optimistic over Angola's untapped gas potential, Azule Energy is considering another gas exploration well after leading the country's first drilling campaign targeting gas and hitting success last month, the CEO told Reuters.

The crude oil market continues to see a lot of pressure, as the markets are trying to find some kind of bottom. However, as the Americans, OPEC, and the Russians are pumping as much oil as possible, pricing is very soft to say the least.

Oil prices edged higher on Thursday, regaining ground after a sell-off in the previous session, with the upcoming meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin raising risk premiums in the market.

President Donald Trump is due to meet Friday in Alaska with Russian President Vladimir Putin. Crude-oil prices surged when Russia invaded Ukraine in 2022, and there is a potential for sizable moves depending on how Friday's summit goes.

WTI holds 200-day MA at $64.08 as U.S.–China tariff extension lifts sentiment; traders eye $66.64 breakout for next crude oil price move.

Oil-focused ETFs came under pressure this week after OPEC+ announced plans to boost production starting in September, raising fresh concerns over an oversupplied market.

U.S. President Donald Trump said Tuesday that Russia's economy "stinks" and lower oil prices will hammer Russia's war machine. The comments come as relations between Moscow and Washington hit a low ebb.

French oil group Maurel & Prom reported a 25% drop in its half-year core profit on Tuesday, hit by falling crude oil prices.

The Friday session continues to see a lot of chop in the oil markets, as the market is trying to sort out the situation with Russian oil, as Donald Trump has threatened massive sanctions again, and tariffs on countries that buy Russian oil.

Crude oil holds a bullish posture despite near-term consolidation, as rising support and Fibonacci targets point to a possible continuation toward the top channel line.