Latest Energy / Automotive News and Analysis OPEC $76.19/bbl, WTI Crude $64.46/bbl
London, June 24, 2025 (Oilandgaspress) –-U.S. wholesale electricity prices are rising fast amid forecasts for summer heat that will drive demand higher, especially in the East. Prices in Boston topped $400 per MWh at one point on Tuesday, Reuters reported, up from $50 per MWh earlier in the day. According to grid operator PJM Interconnection, which is the largest in the country, expected demand to hit 160 GW on Monday, declining to 158 GW on Tuesday and further to 155 GW on Wednesday as the heat retreats.
The Energy Information Administration predicted at the end of 2024 that electricity demand in the United States would hit a record in 2024 and 2025. Then, earlier this year, the EIA extended this record-breaking forecast to 2026, saying it would be driven by exploding consumption from the information technology sector amid its AI race. For this year, the EIA forecast electricity sales of 1.517 trillion kWh for residential consumers and 1.474 trillion kWh for commercial consumers. Sales to industrial consumers were seen at 1.064 trillion kWh. oilprice.com
Octopus wins customer satisfaction, customer service & joint value-for-money gongs Octopus Energy has scooped the three big trophies in the esteemed Uswitch Energy Awards, crowning an already-exceptional 2025 for the UK’s biggest energy supplier. It won the switching site’s awards for Customer Service, Value for Money and Overall Customer Satisfaction – winning the latter for the second year in a row.
Octopus’s stellar performance at the awards caps an extraordinary start to the year for the nation’s favourite energy firm.
In January, the fiercely independent consumer magazine Which? named Octopus as a Recommended Provider for an unprecedented eighth year in a row.
In the same month, the prestigious Institute of Customer Service listed Octopus as the Highest Rated Energy Company for the second consecutive year.
In May, the Energy Consumer Satisfaction Survey commissioned by industry regulator Ofgem and Citizen’s Advice found that Octopus had a satisfaction rating of 89 per cent and was light years ahead of the competition in customer service.
It said Octopus was the only supplier “with a significantly higher proportion of customers who said they were satisfied or very satisfied” for customer service and overall. Ofgem also found in the first three months of 2025 – the latest data available – Octopus had the fewest complaints of any major UK energy firm.
Electric cars that crash in value in a year Some electric cars are worth as little as a third of their initial price – the equivalent of shedding £26,000 – after just 12 months, with This is Money revealing the 20 models with the most appalling residual values.
EVs in general have suffered catastrophic depreciation since the end of 2022 when a cocktail of issues sent used prices into a downward spiral.
This perfect storm hit almost simultaneously, involving a cost-of-living crisis, rocketing energy prices, hard-hitting media coverage of EVs, an oversupply of vehicles entering the second-hand market, and Tesla slashing new model prices.
It quickly brewed into a destructive tornado for used electric car values.
FASTEST DEPREICATING YEAR-OLD ELECTRIC CARS (Number 20 to 11)
Model Price new Value after a year Value lost Depreciation (%)
Peugeot e-Traveller (2020-) £53,876 £25,112 -£28,764 -53.4%
MG ZS EV (2019-2024) £32,941 £15,287 -£17,654 -53.6%
Fiat e500C (2020-) £35,140 £16,233 -£18,907 -53.8%
Citroen e-C4 X (2022-) £33,721 £15,306 -£18,415 -54.1%
Subaru Solterra (2022-) £53,940 £24,775 -£29,165 -54.1%
Honda e:Ny1 (2023-) £46,040 £20,100 -£25,940 -56.3%
Vauxhall Combo e-Life (2021-) £34,022 £14,800 -£19,222 -56.5%
Honda e (2020-2023) £37,340 £16,150 -£21,190 -56.7%
Fiat 500e (2020-) £31,107 £13,175 -£17,932 -57.7%
Citroen e-C4 (2020-) £32,890 £13,661 -£19,229 -57.8%
Source: cap hpi
Three years later, this punishing depreciation is still hitting EV values – and to the tune of tens of thousands of pounds for owners who bought them outright and leasing and financing companies burdened with undervalued vehicles, according to data shared with This is Money and MailOnline.
Cap hpi – experts in the field of vehicle pricing – provided us with market information showing troubling EV residual values compared to cars of other fuel types, while also revealing the models that hemorrhage the most money after only 12 months.
The average EV loses 43.2 per cent of its initial price over this 12-month period. In monetary terms, it means the resale value of a year-old EV is typically £25,900 less than the recommended retail price the owner paid. Buyers of petrol cars can expect to see 31.5 per cent of the retail price wiped from their motor’s value after the first 12 months, which is the equivalent of £18,000.
And it’s plug-in hybrids that are depreciating at a rate closest to EVs, ditching 36.3 per cent of their value, which is a typical loss against the RRP of nearly £29,000 after one year.
The biggest upshot of this whole situation is that used EV models are now extremely affordable – and year-old examples are now far more cost-effective to run than other fuel types, having swallowed most of their loss in residual value already.
ONS – New Director General for Economic Statistics Announced The Office for National Statistics (ONS) is today announcing the appointment of James Benford as the new Director General for the Economic, Social and Environmental statistics Group (ESEG).
He will bolster the ONS’s executive team at a crucial time as the organisation progresses work to renew confidence in its economic statistics. Key to this will be driving forward improvements to the quality of ONS’s key statistical outputs, as well as addressing findings from the upcoming independent review of the ONS by Sir Robert Devereux.
James will join the ONS on 4 August 2025 from the Bank of England where he is currently Executive Director for Data and Analytics Transformation and Chief Data Officer.
On his new appointment, James Benford said:
“I am honoured to take up this role at such a pivotal moment. I am excited to work with the talented and dedicated teams at the ONS to strengthen the quality and relevance of statistics – and to rebuild public trust in the data that informs so many critical decisions.
“Better statistics require better alignment – not only within the ONS, but across the entire system. I look forward to collaborating with users and data suppliers across government, business, and academia to harness new data sources, embrace innovation, and ensure our statistics are fit for the challenges of a fast-evolving world.”
Fire at Jaguar Land Rover’s Castle Bromwich car plant The blaze broke out at the luxury car firm’s Castle Bromwich base in the Castle Vale area of Birmingham at about 8.15am and took over an hour to extinguish.
Witnesses described how black smoke could be seen miles away from the plant amid the huge flames – and the area smelt like burning rubber or plastic. West Midlands Fire Service sent eight fire engines, three 4×4 brigade response vehicles and a hydraulic aerial platform to the scene off Chester Road. A West Midlands Ambulance Service spokesman said: ‘We currently have a paramedic officer standing by supporting fire colleagues at a building fire on Chester Road, Castle Vale. There are no patients.’
Bentayga now available in 111+ exterior colours When the 46 billion different colour and trim combinations available through Bentley’s mainstream palette don’t meet a customer’s vision for their Bentley, Mulliner – Bentley’s bespoke studio – is on-hand to create something totally unique and a one-off. After owning a number of Bentleys, an American customer wanted their new car in a precise shade of her favourite colour: pink. Mulliner was happy to fulfil her dream supporting the personal commissioning of a bold and vibrant Bentayga Extended Wheelbase (EWB) painted in the eye-catching shade of Candy Pink.
The exterior is teamed with an interior accented with Cherry Blossom hide and matching thread that even extends to the embroidered Bentley Wings on the seats. And naturally the customer specified a Mulliner Bottle Cooler with frosted glass soft close door, installed alongside the rear Airline seat for those moments when she chooses to be driven.
The Bentayga is an example of the growing trend among Bentley customers for personal commissions with 70% specifying at least one Mulliner feature in their car, and a clear result of the free choice that a Mulliner commission provides.
Bespoke personalisation
Going beyond the tens of billions of specifications possible from the Bentley options list, Bentley customers are encouraged to participate in the design of unique vehicles, as part of a process that Mulliner terms ‘Co-Creation’. Vibrant colour schemes, bespoke materials and customised features are welcomed as a challenge in the Mulliner workshops by their team of designers and skilled artisans.
With a colour palette of 111 exterior paints including solids, metallics, pearlescent and satins, there is already a significant choice. Pinks are an exception, but with the expertise of the Mulliner team, the customer’s vision was brought to life using Candy Pink and Blackline Specification provides a contemporary contrast to the exterior of the car. Door handles, exhaust tailpipes, brightware, lamp bezels, matrix and lower grilles, roof rails, and wing vents are all finished in gloss black, with tinted rear privacy glass completing the dramatic exterior look.
The interior is a showcase of craftsmanship, using Cherry Blossom hide and thread to complement the car’s exterior. Cherry Blossom leather was applied to the seats, centre console, doors, gear lever and steering wheel. A Bentayga EWB takes approximately 132 hours to manufacture, of which 24 hours are required to paint the body-in-white, and a further 18 hours to produce the trim panels and wood set for the beautiful cabin.
A bespoke interior colour split allowed for the Cherry Blossom thread to be applied to all aspects of the cabin, including the embroidered Bentley Wings. Cherry Blossom leather can even been seen edging the 100 per cent pure wool deep-pile floor mats. A specially-selected wool variety is used due to its cleanliness and purity in colour which is tested to ensure quality standards are met before use.
When it comes to craftsmanship, new colleagues gain knowledge and skills from Bentley’s Master Trainers in order to reach the upmost levels of ability, and to learn the vast array of techniques required to craft Bentley’s interiors to the highest of standards.
Lamborghini Day Germany 2025 Lamborghini Day Germany captivated guests with an extraordinary celebration embodying the motto “You can’t hide who you are.” Automobili Lamborghini showcased Italian flair, cutting-edge innovation, and a comprehensive brand experience during an important and vibrant day shared with customers and friends. Guests were invited to fully immerse themselves in the world of the Italian luxury super sports car brand. The event took place at the elegant Hoch5 venue in Munich, offering an unparalleled atmosphere above the rooftops of the Bavarian capital. All eyes were on Lamborghini’s most iconic creations: the Revuelto – the first V12 HPEV super sports car, the Super SUV Urus SE , and the new “Fuoriclasse” Temerario Attendees experienced a 360° deep dive into Lamborghini’s universe — from performance and design to heritage — offering a unique glimpse behind the scenes of this legendary brand.
The clients and friends of the brand saw the high-performance vehicles made in Sant’Agata Bolognese up close on three floors, engaged in several activities offering brand angles and other partners experiences and had personal conversations with top representatives of Automobili Lamborghini. Lamborghini’s Chairman and CEO, Stephan Winkelmann, hosted the event together with Chief Technical Officer Rouven Mohr, Chief Sales and Marketing Officer Federico Foschini, Design Director Mitja Borkert and Aftersales Director Alessandro Farmeschi.
EST-Floattech expands Octopus Series portfolio with new LFP battery modules EST-Floattech, a leading Dutch energy storage systems provider for maritime and industrial applications, proudly announces the expansion of its Octopus Series with the introduction of Lithium Iron Phosphate (LFP) battery modules. With this addition the company addresses market demand for battery systems based on another chemical configuration. The new Octopus LFP ESS is engineered for reliable and robust large scale battery systems, and works together seamlessly with the trusted Octopus Series Battery Management System (BMS).
New chemistry added to Octopus Series for broad applications
The newly introduced LFP is based on the significant advancements made in recent years, especially in terms of the energy density and cost per kWh. The Octopus LFP modules are engineered with the latest innovations in lithium iron phosphate chemistry, offering superior thermal stability, longer lifecycle performance, and enhanced safety.
With the expected long cycle lifetimes, the LFP modules are ideally suited for vessels discharging by day and charging overnight. Each module delivers a nominal voltage of 52V, a capacity of 233Ah, and is designed for scalable integration into larger battery systems of multiple MWh’s. The modular rack design is flexible in both height and width and includes integrated ventilation to ensure optimal thermal performance of the battery system. The decision for air cooling is an advantage compared to liquid cooling. There are no risks for leakage, less maintenance is needed and it limits the weight.
Proven Battery Management System
The LFP modules are part of the Octopus Series and its agnostic platform. Therefore, the battery system will be fully integrated with the Octopus Series Battery Management System (BMS), a platform developed in-house by EST-Floattech’s engineering team in the Netherlands and based on 15 years of experience. The BMS ensures seamless communication, precise thermal and power management, and real-time diagnostics, enabling optimized performance, operational safety, and compliance with stringent maritime classification and cyber security standards.
Over 50% of Hyundai’s U.S. Dealerships Complete Facility Upgrades Hyundai Motor America today announced a major milestone, surpassing 50% completion in its ongoing Global Dealership Space Identity (GDSI) initiative, reinforcing its commitment to improving customer experience and supporting its ever-growing dealer network.
Launched in 2015 and refreshed in 2019, Hyundai’s facility upgrade initiative reflects its “Modern Premium” brand values, caring, simple, and creative, through a unified architectural and experiential standard across all retail locations. From major metro areas to local communities, renovated dealership facilities ensure customers encounter a consistent, elevated dealership environment that aligns with Hyundai’s design and innovation leadership.
“Dealerships that have adopted this voluntary initiative perform better, with higher profit, return on sales and service retention,” said Rob Grafton, senior vice president, global director of network development, Hyundai Motor Company. “Our vehicles have evolved dramatically in both design and quality and this ensures that our facilities and customer experience reflect that same transformation.”
To date, more than 457 dealerships have completed renovations, and Hyundai expects over 60% of its U.S. dealer network to be finished by the end of 2025. As Hyundai expands its product lineup and EV offerings, dealer facilities are critical in aligning retail spaces with the brand’s forward-thinking identity and customer-first approach.
At a time when some automakers are shifting toward direct-to-consumer models, Hyundai remains firmly committed to its dealer network. Modern facilities empower dealers to lead customer and service relationships, especially as new technology and powertrain offerings grow. These upgraded spaces support education, service, and long-term engagement.
Hyundai dealerships also serve as vital community hubs for Hyundai’s philanthropic programs, including Hyundai Hope on Wheels and Hyundai Hope, which has long championed a nationwide car seat safety initiative, among many other activities. Together, these efforts reinforce Hyundai’s belief in the power of human connection, thoughtful service, and a dealer network built to last.
Hyundai Motor Takes the Stage at Cannes Lions with ‘Night Fishing’ Hyundai Motor Company captured the spotlight this week at the prestigious Cannes Lions International Festival of Creativity with its short film ‘Night Fishing.’ Having been invited to participate in the highly coveted program, the company hosted an exclusive seminar entitled ‘Cut the Ad. Roll the Show’ with Innocean to delve into the creative genius behind this acclaimed short film project.
Speaking at the seminar at Rotonde Stage were Sungwon Jee, Senior Vice President and Global Chief Marketing Officer of Hyundai Motor Company, and Jung A Kim, Chief Creative Officer of Innocean. They shared insight on how ‘Night Fishing’ exemplifies the dynamic blending of cutting-edge technology with compelling narratives to engage audiences worldwide. They also shed light on the collaborative process between Hyundai Motor and Innocean as creative partners that made ‘Night Fishing’ possible.
“’Night Fishing’ is not an ad that merely resembles a film, but a piece of content that stands as a film in its own right. The project signaled a new direction for branded content,” said Sungwon Jee. “I am incredibly proud that our innovative journey has earned us a place at Cannes, showcasing our commitment to transforming brand content into engaging entertainment that resonates with a broad audience.”
In an era where content saturation makes it challenging for brands to grab attention, Hyundai Motor created content that consumers actively choose with ‘Night Fishing.’ The film transcends conventional advertising by presenting a cinematic narrative devoid of overt promotional elements. Presented by Hyundai Motor in association with Innocean, this collaborative film was directed by Moon Byonggon starring actor Son Sukku, and was produced by Stannum and Markenfilm Asia.
Saab’s Aerobahn Runway and Surface Safety service selected for 26 additional U.S. airports The Federal Aviation Authority (FAA) has selected Saab’s Aerobahn Runway and Surface Safety service for installation at 26 additional airports across the U.S. The award is made under the FAA’s Surface Awareness Initiative (SAI) Block 3 deployment.
Saab’s SAI solution is developed to improve safety on airport runways by accurately tracking aircraft and providing air traffic controllers with situational awareness in all weather conditions. It is based on technology from the predecessor ASDE-X program, paired with elements of Saab’s commercial Aerobahn product suite.
This innovative surface safety solution is cloud based and leverages Saab’s proven Software as a Service infrastructure and Aerobahn Trusted ADS-B service, which relies on cooperative sensors to reduce installation and maintenance. The system can be deployed in 90 days and supports the rapid modernization of the U.S. air traffic control system.
“Saab has proudly partnered with the FAA for more than 30 years and is at the forefront of helping the FAA improve surface safety across the national airspace system. Saab’s systems address a critical need and establish a cost-effective path to reduce the risk of runway incidents. We are honored to provide our cloud-based solution at 26 additional airports, providing air traffic controllers and passengers with the safety tools they deserve,” said Erik Smith, President and CEO of Saab in the U.S.
The contract is valid for 10+ years and orders will be placed incrementally.
UK Ford model affected by latest safety recall Ford has confirmed that UK vehicles are affected by a major safety defect that could leave passengers stuck in cars. Ford has written to the USA’s National Highway Traffic Safety Administration (NHTSA) warning of an imminent safety recall surrounding problems with a door latch. In a message received by Ford, the Express can confirm that “some” Mustang Mach-E electric cars based in the UK are also caught up in the latest safety recall. Although further details on the number of UK cars affected have yet to be revealed, Ford confirmed they will be in touch with affected customers shortly. Once contacted, owners are likely to receive the updates completely free of charge.
UAE fuel prices for July The UAE is set to announce petrol and diesel prices for July 2025 in the coming days. For many residents, these monthly revisions are closely watched, as they help determine fuel budgets and daily spending.
In June, fuel prices largely remained unchanged from May:
Super 98 petrol: Dh2.58 per litre
Special 95: Dh2.47 per litre
E-Plus: Dh2.39 per litre
Diesel: Dh2.45 per litre (down from Dh2.52 in May)
Trump opens 30% of US National Forest land to logging The Trump administration will rescind protections that prevent logging on nearly a third of national forest lands, including the largest old growth forest in the country, the agriculture secretary, Brooke Rollins, announced on Monday.
The announcement will be followed by a formal notice rescinding the “roadless rule”, a nickname for the 2001 Roadless Area Conservation Rule, in coming weeks, the Associated Press reports. The rule prohibits road building and logging on all national forest land without roads, accounting for about 59m acres (24m hectares) of US national forest land.
Rollins shared the news at a gathering of the Western Governors’ Association in Santa Fe, New Mexico, where hundreds had gathered outside to protest against congressional efforts to sell off large swaths of public lands. There, the interior secretary, Doug Burgum, spoke of a new “era of abundance” on public lands, describing Donald Trump’s efforts to extract more natural resources for domestic manufacturing.
BEL CL900 Valves supplied to Kårstø plant BEL Valves, which manufactures high integrity valves, complete with actuation and control systems for oil and gas and Hydrogen and Carbon capture installations, has supplied valves worth six-figures to Norwegian multinational energy company, Equinor for its Kårstø processing plant in Norway.
The Newcastle-based manufacturer’s topside through conduit double expanding split gate valves with gearboxes were specified due to the lead times the company offered being significantly faster than the competition.
Donnie Gordon, Project Manager of BEL Valves, said: “The valves needed to be ready in advance of essential installation and a plant shut down this summer – meaning speed of manufacture and accuracy of delivery time were key to us securing the order.”
“We pride ourselves on the speed of our expedited delivery times and it was great to see this element of our service play such a significant role in winning this order for Equinor.”
The Kårstø plant, which is located in Nord-Rogaland, plays a key role in the transport and processing of gas, condensates and light oil from major sites on the Norwegian continental shelf. Around 30 fields are connected to it via pipelines, and millions of cubic metres of gas and condensates and light oil flow into the plant every day. There, the heavier components are separated out, and the remaining dry gas or sales gas is piped onwards to the continent.
The CL900 valves supplied by BEL Valves are being installed during a part shutdown for the Kristin Compressor Package and in the normal gas plant operation and have been supplied in two sizes – 10” and 6” diameter. Designed, tested and manufactured at BEL Valves’ headquarters in Newcastle upon Tyne, the valves enable double block and bleed (DBB) functionality within one single valve assembly, as opposed to the two conventional slab gates that would otherwise be required.
The benefits of these valves include overall cost, size and weight reduction, and have an ability to be configured to seal in either the closed position (single expanding) or open and closed position (double expanding). Further options ensure a fit-for-purpose solution can be developed to suit specific application demands.
“There are no standard installations in the oil and gas industry and so it’s vital to be able to design, develop and manufacture bespoke valves that meet different project requirements,” added Donnie.
Crude oil prices following the US strike on Iranian nuclear facilities. Brent crude surged beyond $80 per barrel in early Asian trading on Monday before settling back below $77. WTI climbed to $78.40 before falling back below $74.
| Oil and Gas Blends | Units | Oil Price | Change |
| Crude Oil (WTI) | USD/bbl | $64.40 | Down |
| Crude Oil (Brent) | USD/bbl | $67.19 | Down |
| Bonny Light 23/06/25 CBN | USD/bbl | $80.92 | Up |
| Dubai | USD/bbl | $71.20 | Down |
| Natural Gas | USD/MMBtu | $3.55 | Down |
| Murban | USD/bbl | $68.26 | Down |
| OPEC basket 23/06/25 | USD/bbl | $76.19 | Up |
INEOS response to UK Government’s Industrial Strategy “INEOS welcomes the Government’s acknowledgement of the impact that high energy prices are having on UK manufacturing, bringing about closures.
The proposals to cut electricity prices, in the long-awaited industrial strategy revealed on Monday, are an important first step and a positive signal. The initiative closely aligns with concerns raised by INEOS over the past two years, emphasising the necessity of competitive energy and feedstock pricing, especially for gas, to sustain and grow the UK’s chemical sector
But let’s be clear: British industry and especially the chemical sector relies far more heavily on gas than electricity. And UK gas prices remain among the highest in the world, undermining our competitiveness and investment prospects.
We applaud the Government for addressing electricity costs but progress is slow, the measures are partial, and they fall short of what is required. Our call for urgent reform in energy pricing, grid connections, carbon levies, and policy stability must not be ignored
As Sir Jim Ratcliffe has warned, Britain is sleepwalking into deindustrialisation. We’re watching strategic Foundation Industries that underpin the Government’s Industrial Strategy, slowly bleed out. Not because they can’t compete, but because UK policy makes them uncompetitive.
Two-thirds of British manufacturing has disappeared in the last 25 years alone, while during that same period, the UK population has risen by more than 10 million. That should alarm every policymaker in the country.
If the UK is serious about reversing the closure of British manufacturing, highlighted by INEOS and many within our sector, then far-reaching, immediate reforms on industrial gas pricing and carbon tax reduction are essential. Without them, investment, jobs, and UK capability will continue to drift overseas.”
Tesla drivers are switching to Polestar in record numbers Tesla, with May sales down 36 per cent on the same month last year. Meanwhile, Tesla rival Polestar – now with a full range of three models on sale in the UK rather than just the one last year – has seen registrations jump by over 273 per cent year-on-year. Reports are rife of Tesla buyers and owners turning away from the EV brand because of controversy surrounding Tesla CEO Elon Musk, described by former Aston Martin CEO Andy Palmer as “a bit of brand damage.” However, Polestar’s Galvin also thinks it could be because of owners’ tiring of their Teslas. “Tesla has been around a long time, hasn’t it? I think people have had maybe one or two of those products already, and there’s something new and alternative on the scene with Polestar for them. I’m really pleased that they’re considering it and, in many cases, buying it,” said Galvin. Electric-only brand Polestar is owned by Chinese car giant Geely and headquartered in Sweden alongside other Geely brand, Volvo. It currently sells the Chinese-built Polestar 2, 3 and 4 models, having launched the brand in the UK in 2021.
May saw Polestar register 1,174 new cars, with the new Polestar 4 its most popular car. Although a massive increase on 2024’s figures, that’s still some way behind the more established Tesla, which registered 2,016 cars in May, a drop from the 3.152 last May.
ban on petrol cars threatens car industry employing 800,000 peopleThe UK car industry, which employs nearly 800,000 people, is under threat from the Government’s insistence that motorists must switch to electric vehicles, industry leaders have warned. Carmakers contribute £25 billion each year to the economy and can help the Government meet its goal of growing the economy, says a major new report from the Society of Motor Manufacturers and Traders (SMMT). But it is struggling to sell electric vehicles to customers who simply don’t want to buy them. The trade group, which represents firms employing tens of thousands in Britain such as Nissan, Jaguar Land Rover and Mini, called for reductions in VAT on electric cars and a rapid increase in the number of charging points available for motorists to power up the vehicles. It also suggested the Government could rethink plans to end the sale new pure petrol or diesel cars entirely in 2030, and the sale of new pure petrol-diesel vans in 2035.
In a major report today the SMMT said: “Globally, other markets, including the EU and USA, are revisiting the viability of the timelines previously envisioned in the face of multiple headwinds, and placing increased focus on support for domestic and international competitiveness and manufacturing.”
Baker Hughes Rig Count: U.S. U.S.U.S. -1 to 554 Canada +1 to 139
U.S. Rig Count is down 1 from last week to 554 with oil rigs down 1 to 438, gas rigs down 2 to 111 and miscellaneous rigs up 2 to 5.
Canada Rig Count is up 1 from last week to 139, with oil rigs up 2 to 93, gas rigs down 1 to 46 and miscellaneous rigs unchanged at 0.
| Region | Period | Rig Count | Change |
| U.S.A | 20 June 2025 | 554 | -1 |
| Canada | 20 June 2025 | 139 | +1 |
| International | May 2025 | 886 | -5 |
Petrol prices to soarPetrol and diesel fees are up across the UK after the price of oil surged, in a possible blow to motorists this June. Analysis has revealed unleaded petrol fees are up by 1.5p per litre over the past week, with diesel rates also higher by 2p.
Experts at the RAC stressed the increase is due to a sudden jolt in the price of oil in the wake of the ongoing conflict between Iran and Israel. However, experts have warned the increase is not on the same level as those in 2022, which saw petrol and diesel fees soar. RAC head of policy Simon Williams issued a statement on the news on Monday and warned prices may “go up further”.
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OilandGasPress Energy Newsbites and Analysis Roundup | Compiled by: OGP Staff, Segun Cole , victor@oilandgaspress
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