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U.S. Crude Output to Rise 770,000 bpd in 202R
U.S. crude oil output is expected to rise 770,000 barrels per day to 11.97 million bpd in 2022, the government said in a monthly forecast on Tuesday.
Oil & Gas Supply
Opec+ Agrees 400,000 b/d Hike for March
Opec+ ministers have agreed to press ahead with another 400,000 b/d increase in the group's crude output quota next month.
Libya Considers Bonuses for Oil Companies to Boost Crude Output
Libya may introduce contracts with private oil companies that would give bonuses to those that meet targets and penalize those that don’t, as the OPEC member t…
Iraqi Crude Output Rises to 18-month High of 4.21 mil b/d in Nov: SOMO
Iraqi crude oil production, including flows from the semi-autonomous Kurdistan region, rose to an 18-month high of 4.208 million b/d in November.
Lukoil Submits Development Plan for New Iraq Oil Field
Russia's Lukoil has submitted a preliminary development proposal for a new oil field in the south of Iraq, that could eventually see output crude grow to 250,00…
Opec+ Production Shortfall Widened in October
The Opec+ coalition added 230,000 b/d to collective crude output last month, meaning its production shortfall widened to 690,000 b/d at a time when consuming co…
Oman's September Crude Output Edges up to 764,000 b/d
Oman's crude oil output edged up in September, marking a seventh straight monthly increase as the Opec+ group, of which it is a member, continues to unwind its …
Nigeria Hopeful Opec+ will Grant Baseline Change
Nigeria remains hopeful that the Opec+ group will grant its latest request to raise the baseline from which its crude output quotas are calculated, despite prev…
Opec+ Adds Around 700,000 b/d in July
The Opec+ group added 680,000 b/d to its crude output last month, boosted by higher quotas and the end of Saudi Arabia's extra cut.
Libyan Crude Output could Rise 200,000 b/d by Year-End: OMV Executive
Libya has the potential to boost its oil output by as much as 200,000 b/d by the end of the year, depending on the security situation, an executive from Austria…
Oil Prices Slide on Worries over China Economy and Higher Crude Output
Brent crude oil futures skidded 81 cents, or 1%, to $74.60 a barrel by 0116 GMT.
Oil and Dollars: Why the UAE is Risking a Falling-out with OPEC+
The UAE agreed with the other 22 OPEC+ members that monthly output cuts should be eased by 400,000 barrels a day from August, but said the extension should be t…
OPEC Projects Tight Oil Markets in Advance of June Crude Output Talks
A year after shuttering unprecedented volumes of crude, the OPEC+ alliance is expecting world oil markets to get acutely tight.
Oil Prices Reach One-Year High As Global Crude Supplies Shrink
Oil surged to the highest in more than a year as the market looks ahead toward an accelerating decline in global inventories and a comeback in demand.
US Crude Output Down Sharply on Storm
Power outages and freezing temperatures have forced US oil producers to shut down or reduce operations significantly, with impacts ranging from 2mn b/d to as hi…