oil production

Oil prices stabilized near their lowest closing levels since June 2023 as the market digested a significant draw in U.S. crude stockpiles, following a steep decline earlier this week. Brent…

A month before OPEC+ is scheduled to announce its decision on the potential easing of oil production cuts, speculation about the group’s output policy is intensifying. Recent indications from OPEC+…

Natural gas is a vital component of the global energy mix, playing a significant role in heating, electricity generation, and as a feedstock for industrial processes. Unlike crude oil, which…

Libya’s oil production has once again come to a standstill due to ongoing political conflicts, echoing the turbulent patterns observed since the fall of Muammar Gaddafi in 2011. The latest…

Crude oil prices experienced a notable decline early Monday following of a potential partial reversal of OPEC’s production cuts. Six unnamed sources within the cartel indicated that OPEC members are…

Oil prices continued their downward trajectory on Monday as investors weighed the impact of increased OPEC+ production set for October against a sharp decline in Libyan output and weak demand…

The energy sector is one of the most critical components of the global economy. Among the various energy sources, natural gas and crude oil stand out as two of the…

Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), described his recent visit to Iraq as highly productive, highlighting the country’s strong commitment to stabilizing the global…

U.S. gasoline prices are notably lower compared to last year as the Labor Day weekend approaches, marking the end of the summer driving season, according to the U.S. Energy Information…

Lukoil, Russia’s second-largest oil producer, reported a net profit of $6.4 billion (590.2 billion Russian rubles) for the first half of 2024, marking a 4.6% increase compared to the same…