Government ministers from nearly 200 countries reached an agreement, known as the UAE Consensus, that calls for a transition away from fossil fuels.

Gas prices in the United States are dropping, with the national average at $3.137 per gallon, down 9 cents from the previous week and the lowest of the year.

The latest draft of the COP28 climate agreement has removed the call to phase out fossil fuels, replacing it with a broader call for countries to reduce planet-warming pollution.

The OPEC oil cartel has expressed concerns in leaked letters about the potential for a "fossil fuels phase out" being discussed at Cop28, the UN climate summit.

OPEC+ oil producers have agreed to voluntary output cuts totaling approximately 2.2 million barrels per day (bpd) for early next year, with Saudi Arabia continuing its existing voluntary cut.

Venezuela is holding a referendum on whether to establish a new state in the disputed Essequibo territory, which has significant oil reserves and has been a source of tension with Guyana for over a century.

The OPEC+ coalition, comprising 23 oil-producing nations, has postponed a meeting to finalize output levels for 2024 by four days to November 30.

Oil prices dipped ahead of the scheduled OPEC+ meeting where discussions about potential supply cuts were expected.

Eight years after the Paris Agreement, the oil industry is thriving, with rising profits and record production levels, especially in the United States.

China Petroleum & Chemical Corporation (Sinopec) has achieved the first oil and gas flows from Asia's deepest onshore well, the Yuejin 3-3XC well in the Tarim Basin, Xinjiang Uygur autonomous region.

Oil prices rose by approximately 2% as Iraq expressed support for OPEC+'s oil production cuts ahead of an upcoming meeting.

A United Nations-backed report reveals that major fossil fuel-producing countries, including the United States, Russia, and Saudi Arabia, are on course to produce twice the amount of fossil fuels that exceed critical global warming thresholds by the end of this decade.

Warren Buffett-backed Occidental Petroleum (OXY) is set to report its third-quarter earnings, with analysts expecting a more than 60% drop in quarterly profit.

Rescuers are intensively searching for a man trapped beneath the debris of a collapsed coal processing building in rural Kentucky, with hopes of finding him alive, despite one worker being declared dead in the incident.

Tragedy strikes as at least one worker has died and another remains trapped in the collapsed coal preparation plant in Eastern Kentucky.

Chevron's stock decline following an earnings miss has reduced the value of its all-stock acquisition offer for Hess Corp. by approximately $6.5 billion.

Chevron and Exxon are making significant acquisitions in the oil and gas industry despite growing global momentum toward clean energy.

Chevron has agreed to purchase U.S. oil and gas producer Hess in an all-stock deal valued at $53 billion.

The Biden administration has proposed up to three oil and gas lease sales in the Gulf of Mexico but none in Alaska, aiming to strike a balance between energy production and climate concerns.

Gasoline prices in California have surged to an average of $6.08 per gallon, up 15% from a month ago, largely due to a spike in crude oil costs and refinery output disruptions.