Valor | Energy Connection – Feb. 16, 2026

February 16, 2026 Edition

At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. We are committed to sharing the insights and knowledge that our team gathers to help you stay ahead in this dynamic sector. From mergers and acquisitions to regulatory changes and technological advancements, we cover all the key developments that impact the industry. Stay tuned for weekly updates to keep you well-informed.

• Natural gas hits 4 month low of $ 3.02 on warm forecast
• Summary: U.S. natural gas futures slumped to roughly $3.02 per MMBtu, marking a four-month low as forecasts for warmer weather across the central and southern U.S. reduced expectations for heating demand. This decline reverses a recent spike to three-year highs driven by Winter Storm Fern and was exacerbated by thin liquidity during the President’s Day holiday. Despite the drop, market fundamentals remain supportive, with working gas inventories sitting roughly 130 Bcf below the five-year average and LNG exports sustaining near-record levels.
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• EIA sees flat crude output but rising gas production in 2026
• Summary: U.S. energy firms kept the total rig count unchanged at 551 this week, as a reduction of three oil rigs (to 409) was offset by the addition of three natural gas rigs (to 133). While the total count remains down 37 rigs year-over-year, gas drilling has surged to its highest level since July 2023. The EIA projects U.S. crude output will remain flat at 13.6 million bpd in 2026 amid falling oil prices, whereas natural gas production is forecast to rise to 110.0 bcfd, supported by a predicted 22% jump in Henry Hub spot prices.
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• Oil prices set for second weekly loss as IEA cuts demand view
• Summary: Oil prices are poised for a second consecutive weekly loss as fading fears of a U.S.-Iran escalation reduce the geopolitical risk premium, leaving Brent at $67.36 and WTI at $62.66. The International Energy Agency (IEA) triggered a 3% price drop by revising its 2026 demand growth forecast down to 850,000 bpd, contrasting with OPEC’s steady projection of 1.38 million bpd. Despite recent supply disruptions in North America and Kazakhstan, the IEA predicts a 2026 market surplus with global supply rising by 2.4 million bpd.
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• Oil edges higher on weak U.S. inflation data
• Summary: Oil prices settled marginally higher Friday—with Brent at $67.75 and WTI at $62.89—as slowing U.S. inflation data fueled hopes for rate cuts, offsetting concerns that OPEC+ may resume output increases in April. Despite the daily uptick, both benchmarks posted weekly losses of roughly 0.5% and 1%, respectively. Geopolitical factors remain mixed: while the U.S. eased Venezuelan energy sanctions (eyeing $5 billion in future sales) and Russia scheduled peace talks, the Pentagon deployed a second aircraft carrier to the Middle East amid lingering tensions with Iran.
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• New Venezuela oil law a step forward says U.S. Energy Secretary
• Summary: U.S. Energy Secretary Chris Wright said following a meeting with Venezuelan officials that the country’s new oil law could support a potential increase in oil, natural gas, and electricity production as early as this year. The revised framework caps royalties at 30% and allows for greater private-sector participation, which Wright described as a constructive step toward attracting investment. However, he noted that further clarity may be needed before large-scale capital commitments materialize. Any meaningful production growth from Venezuela could influence global crude supply balances and potentially affect pricing dynamics in international markets.
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• Americas oil firms accelerate AI adoption for efficiency
• Summary: Oil and gas enterprises across the Americas are aggressively adopting AI, cloud platforms, and decarbonization technologies to modernize operations and cut costs, according to the 2025 ISG Provider Lens® report. U.S. shale operators in the Permian and Eagle Ford are leveraging AI and advanced analytics to optimize drilling accuracy and reservoir management, while Canadian firms focus on carbon capture and Brazilian companies scale biofuels. The report identifies major tech consultancies—including Accenture, Deloitte, and IBM—as leaders in guiding this transition, which prioritizes operational efficiency and resilience amid market volatility.
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