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Pakistan Strikes Critical Win With Oil, Gas Wildcat Discovery

OilPrice

Pakistan’s state-owned Oil & Gas Development Company Limited (OGDCL) has hit a new reservoir of oil and gas at its Faakir-1 wildcat well—an onshore discovery in Sindh province that could help reverse the country’s deepening energy crisis. Drilled to a depth of 4,185 meters, the well tested at 6.4

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Rystad: Oil Prices To Remain Below $80 Despite Escalating Middle East Tensions

OilPrice

The conflict appears likely to be contained and…

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Gas Prices Fall to $3.14 Ahead of July 4 as Middle East Risks Recede

OilPrice

gas prices have dropped to their lowest Independence Day level in four years, with the national average now at $3.14 Brent crude futures have fallen steadily over the past two weeks, dropping from over $75 per barrel to just under $68 as of Monday. per gallon, according to GasBuddy. shale producers and OPEC+ exporters.

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U.S. crude oil inventories decrease by 5.8 million barrels

Oil & Gas 360º

million barrels from the previous week. million barrels, U.S. crude oil refinery inputs averaged 17 million barrels per day during the week ending June 20, 2025, which was 125 thousand barrels per day more than the previous week’s average. million barrels per day. million barrels per day. Imports U.S.

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New Energy Discovery Could Help Pakistan Cut Costly Fuel Imports

OilPrice

Pakistan Oilfields Limited (POL) and Oil and Gas Development Company Limited (OGDCL) have announced the successful completion of hydrocarbon production testing at the Makori Deep-03 Development Well in the TAL Block in Khyber Pakhtunkhwa. million standard cubic feet of gas per day (MMSCFD), according to a filing by POL.

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U.S. crude oil inventories increase by 7.1 million barrels

Oil & Gas 360º

million barrels from the previous week. At 426 million barrels, U.S. crude oil refinery inputs averaged 17 million barrels per day during the week ending July 4, 2025, which was 98 thousand barrels per day less than the previous week’s average. million barrels per day. million barrels per day. Imports U.S.

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Oil Prices Could Sink Below $50 This Year

OilPrice

Crude oil prices could decline below $50 a barrel this year, according to analysts from outlets including S&P Global. This will give American drivers much needed relief at the pump after years of gas price inflation. One reason for the hypothetical decline is what is widely seen as weakening demand growth.

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