Oil prices declined after US President Donald Trump ruled out military strikes against Iran before the upcoming US midterm elections on Nov. 3, 2026. Meanwhile, Australia-based Woodside Energy has appointed Stephane Drouaud, Vice President of the Trion Project, as Managing Director of Woodside in Mexico. The nomination was announced as Woodside Energy’s flagship project in Mexico Trion, reached 64% physical completion.
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Oil Drops as Trump Rules Out Iran Strike, Market Floor Persists
Oil prices declined Friday after US President Donald Trump ruled out military strikes against Iran before the upcoming US midterm elections on Nov. 3, 2026. Despite the immediate pricing relief, crude markets failed to retreat to lower historical levels as persistent supply bottleneck risks in the Strait of Hormuz and depleted global inventories continue to floor the market.
Trump Russian Diesel Waiver Sparks Lawmaker, Allied Pushback
US President Donald Trump’s decision to temporarily suspend sanctions on Russian oil exports to allow hundreds of thousands of tons of diesel fuel into the global market has drawn strong criticism from domestic lawmakers and international partners.
CNE Sets Permit Tenure Rules for Legacy Hydrocarbon Files
The National Energy Commission (CNE) published regulatory criteria establishing differentiated permit validity periods of up to 30 years for hydrocarbon activities, replacing previous short-term limits for legacy applications filed under the abrogated 2014 Hydrocarbons Law. The decree directly addresses backlog and resolves ongoing legal disputes stemming from federal court mandates that required the regulator to align permit tenures with capital investment and infrastructure requirements.
Mexico Weighs US Gas Import Expansion Amid Trade Talks
Mexico is evaluating expanding natural gas purchases from the United States as part of ongoing bilateral efforts to address the trade imbalance between both nations. The potential increase in fuel imports aligns with operational requirements to supply new domestic power generation infrastructure.
Woodside Names Stephane Drouaud Managing Director for Mexico
Australia-based Woodside Energy has appointed Stephane Drouaud, Vice President of the Trion Project, as Managing Director of Woodside in Mexico. The nomination was announced as Woodside Energy’s flagship project in Mexico Trion, reached 64% physical completion.