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Global Upstream M&A Drops 34% as U.S. Activity Slumps

Mergers and acquisitions in the global upstream oil and gas sector clocked in at just over $80 billion in the first half of 2025, good for a 34% year-over-year decline amid volatile oil prices and tariff concerns by the Trump administration. According to Rystad Energy, M&A was particularly weak in the first quarter…
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