Oil product

Crude Oil

Brazil Assures US it will Increase Oil Production

The Brazilian government on Monday (Mar 14) assured the United States it will increase its oil production, a decision that could help ease concerns over global …

Crude Oil

Norway’s Equinor Not Entering Any New Trades for Russian Oil

Following the beginning of the process to exit its projects in Russia, Norwegian state-owned oil and gas player Equinor has now also decided to stop trading in …

Crude Oil

Again, Crude Oil Production by OPEC, Allies Falls by 890,000 bpd

Despite the decision of the Organisation of Petroleum Exporting Countries (OPEC) and its allies, OPEC+, to raise crude oil production by 340,000 barrels per day…

Crude Oil

Countries and Companies Shun Russian Crude over Ukraine Invasion

Russian gas flows to Europe remain stable, but Moscow is starting to face problems in selling its crude oil and oil products as Western sanctions over Russia's …

Oil & Gas Supply

Iraq's Oil Supply Compatible with Global Demand

Iraq said on Wednesday that its crude oil exports are in line with the consumption in the world oil market, ruling out the need to increase oil production.

Crude Oil

U.S. Crude Oil Production Unchanged Last Week: EIA

U.S. crude oil production averaged 11.6 million barrels per day (b/d) during the week ending Feb. 25, unchanged from the previous week, U.S. Energy Information …

Crude Oil

Oil Production from Northeast India Expected at 6.85 mt in 4 years: HS Puri

The petroleum sector to play a crucial role in the North East region’s industrial growth.

Crude Oil

Norway’s January Oil Output Sinks Below Predictions

Norway’s oil production in January 2022 fell behind the Norwegian Petroleum Directorate’s predictions by 2.3 per cent, while the gas output also experienced a…

Oil Price

South Korea's Hyundai Oilbank to Supply 80,000 b/d Middle Distillates to Aramco Trading

South Korean oil refiner Hyundai Oilbank has agreed to provide Won 3 trillion ($2.5 billion) worth of refined oil products to oil giant Saudi Aramco's trading a…

Crude Oil

Novak: Russia To Resume Oil Output To 90% Of Pre-pandemic Level

Russia will be able to resume its oil production to 90% of the levels it was producing prior to the pandemic, Russian Deputy Prime Minister Alexander Novak said…

Crude Oil

OPEC+ Set To Continue With 400,000 Bpd Production Increase

The OPEC+ group is expected to decide next week whether it should continue unwinding the oil production cuts by another 400,000 barrels per day in March

Crude Oil

Guyana’s Oil Production To Increase Three-Fold Next Month

Exxon plans to begin oil production from a second platform offshore Guyana next month

CNOOC

Chinese Oil Major CNOOC Targets Record High Production This Decade

CNOOC set its production target at 600 million to 610 million barrels of oil equivalent (boe) for 2022, up from the 2021 target of 545-555 million boe

Crude Oil

Global Oil Supply Set to Outpace Demand Amid Higher Production, IEA Says

The surge in new Covid cases is expected to 'temporarily slow' but not upend the recovery in demand

Crude Oil

OPEC+ Undershoots Oil Production Target Again

The OPEC+ group delivered the 400,000-bpd production increase in November, but it was still more than half a million barrels per day short of its overall oil pr…