U.S. tariffs on Canada and Mexico, as well as signals about comfortable supply levels have combined to pressure oil into ending the week with a substantial loss, which, according to Reuters, was the biggest one since last October.
The Railroad Commission of Texas issued a total of 665 original drilling permits in February 2025. The total includes 563 to drill new oil or gas wells, 11 to re-enter plugged wellbores, 16 field transfers and 75 for re-completions, a news release said.
Curious Minds Corner
What is the name of the largest oil refinery in the world?
The largest oil refinery in the world is the Jamnagar Refinery in India.