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Despite record U.S. crude oil production reaching 13.8 million barrels daily in 2026, diesel prices remain at record highs with critically low inventories. The disconnect reflects refinery constraints and global market competition.
A successful Iran-linked cyber-attack on a British gas power plant has exposed vulnerabilities in hundreds of small generators, though government security upgrades are not mandated until the end of 2030.
BP appointed Ian Tyler as permanent chair, ending months of leadership uncertainty following the controversial removal of his predecessor Albert Manifold in May.
The UK’s spending watchdog warns that without faster electricity grid upgrades, consumer energy bills could rise by £7.8bn annually by 2030 as renewable energy transitions accelerate.
Britain’s North Sea oil and gas industry is urging the government to end a windfall tax on fossil fuel firms three years early and approve major drilling projects amid rising winter energy costs.
G7 nations agreed to release up to 100 million barrels of emergency diesel and crude oil reserves following U.S. pressure and threats of export restrictions.
