oil production

The Organisation of the Petroleum Exporting Countries (OPEC) has revised its oil demand growth forecast for 2024 and 2025, announcing a reduction in its monthly report issued yesterday. The new…

Oil prices have experienced a significant reversal, driven by persistent short-selling by money managers. As of 11:40 AM ET on Thursday, Brent crude futures for December delivery were trading at…

Libya’s crude oil production has rebounded to 1.3 million barrels per day (bpd), according to the National Oil Corporation (NOC). This resurgence follows the resolution of a political dispute surrounding…

The China National Offshore Oil Corporation (CNOOC) has reported record-breaking production of crude oil and natural gas from its first independently constructed ultra-deepwater field, known as Deep Sea #1. The…

Kazakhstan, often seen as a “rogue” member of the OPEC+ alliance, has once again exceeded its oil production limits, potentially escalating tensions within the group. Recent reports indicate that the…

ExxonMobil is set to increase its crude oil production offshore Guyana by 18,000 barrels per day, which cites a senior company executive. The increase will come from the Unity platform,…

The U.S. Federal Reserve recently reduced interest rates, and the European Central Bank followed suit, acknowledging the easing of inflationary pressures. However, this trend may shift if violence in the…

Synthetic oil has become an essential component in many industries, from automotive engines to industrial machinery. This particular type of oil has consistently proven to deliver superior performance compared to…

Activity in the U.S. oil and gas sector experienced a slowdown in the third quarter, raising questions about the sustainability of the industry’s recent boom. The Dallas Federal Reserve’s latest…

Storm Helene is moving eastward, with early reports indicating that Gulf of Mexico oil platforms are likely to avoid significant damage. Despite this, the storm is expected to strengthen rapidly.…