U.S. crude oil exports declined 3% in 2025 to 4.0 million barrels per day, marking the first annual drop since 2021 despite record production of 13.6 million b/d. The decrease was largely driven by lower shipments to Europe and Asia, as more crude went to U.S. refineries and Strategic Petroleum Reserve stock builds.

ExxonMobil plans to move its legal domicile from New Jersey to Texas, aligning its incorporation with the state where its headquarters and a large portion of its workforce are already based. The company says the move will better protect it from shareholder litigation and reflects Texas’s more business-friendly legal environment and support for the oil and gas industry.

Oil and gas has advanced through three waves of technology-driven efficiency: Innovation, which unlocked shale resources through engineering breakthroughs; Industrialization, which turned shale development into a factory-style drilling process; and Automation, where AI and data systems are beginning to optimize operations in real time. Together, these waves are enabling operators to produce more energy with fewer rigs, lower costs, and faster decision-making.

The Bakken formation in North Dakota became one of the world’s most important shale oil regions through horizontal drilling and hydraulic fracturing, but current wells recover only a small portion of the oil in place. A new initiative exploring CO₂ enhanced oil recovery (EOR) aims to inject captured carbon dioxide into reservoirs to increase recovery rates, potentially unlocking billions of additional barrels of oil and extending the life of the Bakken.