Crude Oil

July 10, 2026

US M&A activity slows despite high prices, favorable regulatory regime

HIGHLIGHTS

US oil and gas M&A activity remains tepid

High oil prices fail to spark deal wave

Deregulation efforts don't boost dealmaking

Aside from a handful of high-profile deals, merger and acquisition activity in the US oil and gas sector has been tepid in recent months, even as war in the Middle East pushed oil prices to multi-year highs.

In this episode, S&P Global Energy's Christopher van Moessner, editor, oil futures, is joined by Americas news editor Ashok Dutta and senior reporter Eamonn Brennan to discuss the outlook for M&A activity in the sector and how it has been impacted by a White House that, from the start, has positioned itself as pro-oil. They dig into how the administration's deregulation efforts have so far failed to manifest in a wave of oil and gas dealmaking that has been seen in other industries, and how capex discipline and general price uncertainty have presented headwinds to M&A activity in the sector.

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