Investors in the U.S. upstream oil and gas sector are cautious due to market volatility, leading to a 21% drop in M&A deals worth $13.5 billion in the second quarter. This is a 60% decline from the same period in 2024, with oil prices fluctuating between $57.13 and $75.14 per barrel. EOG Resources and Viper Energy made significant acquisitions totaling over 75% of deal value. The industry may need to look abroad for new opportunities.

Read more at Yahoo Finance: Dealmaking in US upstream oil and gas tumbles as volatility rattles investors