OIH Stock Recent News

Crude oil surged through resistance and confirmed a bullish breakout, with traders now watching $65.89 to $69.31 as key upside target zones.

Britain's BP is bracing for a shareholder backlash at its annual general meeting on Thursday, with a chorus of disgruntled investors planning to voice their concerns over the firm's green strategy U-turn. Asset manager Legal & General, a leading shareholder in BP, said it intends to vote against the reelection of outgoing Chair Helge Lund, a position that would defy BP's management recommendation.

WTI crude oil is consolidating to form a support zone, while natural gas prices approach the key level of $3.

Oil prices extended gains on Thursday on the prospect of tighter supply after Washington imposed further sanctions to curb Iranian oil trade and as some OPEC producers pledged further output cuts to compensate for pumping above agreed quotas.

Futures traders are navigating a minefield as new tariffs send shockwaves across equities, commodities and Treasuries.

Kazakhstan's oil output fell in the first two weeks of April from the March average, but is still above the OPEC+ quota it has pledged to meet after months of overproduction, an industry source told Reuters.

BP made an oil discovery in the Far South field in the U.S. Gulf of Mexico, the UK-based oil major said on Monday.

Initial data shows high-quality reservoirs and a potentially commercial volume of hydrocarbons, the company said.

Eni S.p.A. is undervalued with an EV/EBIT of 2.3x for E&P and traditional oil businesses, significantly below peers, indicating a potential relative value play. Investments in Enilive and Plenitude are valued at around 10 billion EUR each, with recent precedents leading to the compressed valuation. We see general risks of supply in renewable fuels due to low conversion costs, and the commodity outlook across the board for Eni's businesses, including Plenitude, is grim.

Lebanon's Economy Minister Amer Bisat discusses the impact of US President Donald Trump's tariffs and lower oil prices amid efforts to rebuild the economy. Lebanon adopted a draft law on restructuring its banking sector in a bid to unlock international aid to help it emerge from an economic crisis it has suffered since 2019, made worse by the Covid-19 pandemic, a port explosion and the war in Ukraine.