Newsletter No. 141
Good afternoon,
Let's jump right in this week and take a look at what’s happening in the oil and gas industry.
This Week's Headlines
- Natural Gas Holds Above $4 as Oil Prices Stay Steady at Around $60
- ADNOC Says Global Oil Demand Will Stay Strong Beyond 2040
- Iraq Halts Russian Oil Shipments After U.S. Sanctions on Lukoil
- Viper Energy Sells Non-Permian Assets for $670 Million
- Tax Webinar, Part 2: Tax Preparer vs. Tax Strategist
- Check Out the Brand New Kiplinger Article on Taxes and Energy Investing
- New Podcast: The Markets, the Fed, and the Future: John Mauldin on What’s Next
Oil and Gas News
Natural Gas Holds Above $4 as Oil Prices Stay Steady at Around $60
Oil and gas markets remained stable Wednesday, with natural gas trading above $4.20 and WTI crude stayed firm around $60.50, and Brent found support from ongoing OPEC+ production discipline and a solid technical base. Analysts see the steady prices as a sign of underlying market resilience, as natural gas continues to trend upward within its long-term growth channel. Both oil and natural gas are showing signs of strength and potential for further upside once market sentiment improves.
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ADNOC Says Global Oil Demand Will Stay Strong Beyond 2040
The UAE’s state oil company ADNOC says the world will keep using more than 100 million barrels of oil per day well past 2040, as industries like air travel, manufacturing, AI, and data centers continue to grow. ADNOC plans to increase its production to meet demand while keeping costs and emissions low, aiming to become the most AI-driven energy company in the world. Company leaders say that even as renewables and natural gas expand, the world will still need major investment, about $4 trillion a year, in new energy systems to keep up with global power needs.
Iraq Halts Russian Oil Shipments After U.S. Sanctions on Lukoil
Iraq has canceled three oil shipments from Russia’s Lukoil after the U.S. government placed new sanctions on the company for its ties to the war in Ukraine. Lukoil owns most of Iraq’s West Qurna-2 oilfield, which produces over 400,000 barrels a day, but Iraq doesn’t want to deal with sanctioned oil. To avoid trouble, Lukoil is selling its overseas business to Swiss trading firm Gunvor, though they may need U.S. approval to finish the deal. Other big buyers of Russian oil, like China and India, are now looking for new suppliers or safer ways to keep buying.
Moves to Watch
Viper Energy Sells Non-Permian Assets for $670 Million
Viper Energy is selling its oil and gas properties outside the Permian Basin for $670 million to GRP Energy Capital and Warwick Capital Partners. The sale should close early next year and will help the company pay down debt and give more money back to shareholders through dividends and stock buybacks.
Viper, which is part of Diamondback Energy, recently bought Sitio Royalties for $4.1 billion, boosting its oil production by about 20% per share. The company expects steady oil growth next year.
In the third quarter of 2025, Viper brought in $418 million in revenue but reported a $197 million loss due to a one-time accounting charge. The company produced about 109,000 barrels of oil and gas per day and continued expanding its footprint in the Permian region.
Happening at King
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New Podcast: The Markets, the Fed, and the Future: John Mauldin on What’s Next
In this week’s episode of The Jay Young Show, I sat down with world-renowned economist John Mauldin for an unfiltered look at the state of today’s economy. From inflation and interest rates to global energy policy and investor sentiment, Mauldin breaks down what’s driving the markets — and what could be coming next.
Plus, my co-host Jordan Soto and I discuss the latest oil and gas news shaping the energy sector, and then wrap up the show with my Weekly Five.
Watch it on LinkedIn, Rumble and YouTube (@JayRYoungOfficial).
If you'd like to talk to someone about King and are an accredited investor, you can fill out your information here or schedule a Zoom conversation with one of our SVPs here and someone will reach out.
All the best,
Jay
