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Crude Oil

Oil Turns Positive, Clawing Back Losses After White House Calls on OPEC to Boost Production

Oil prices reversed losses to trade in the green on Wednesday, after the White House called on OPEC and its allies to increase oil production to support the glo…

Crude Oil

Pipeline Leak Cuts Libya’s Oil Production By 70,000 Bpd

Libya’s crude oil production fell on Monday by 60,000-70,000 barrels per day because pumping crude at an oilfield had to be reduced because of a leak in a pipe…

OPEC

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.

Oil Field

New Oil Field Comes Online Offshore Malaysia

Petronas has announced that the East Cendor field in Block PM304, offshore Malaysia, has achieved first oil production.

Oil Shale

New Mexico’s Permian Output Rises – will a Modest Shale Recovery Follow?

New Mexico’s oil production surged to a record in May highlighting the Permian Basin’s role as the shale industry sees some recovery from the pandemic.

Crude Oil

BW Working to Tie in Gabon Wells for First Oil Later This Year

Oil and gas company BW Energy has completed the final horizontal production well on the Dussafu Marin license in Gabon and is now working to tie in two wells fo…

Crude Oil

Libya Looks To Boost Oil Production To 1.6 Million Bpd In 2022

Libya could boost its oil production to 1.6 million barrels per day by the middle of 2022 if the industry has the necessary funding

Crude Oil

Venezuela Plans To Revive Its Oil Industry Despite U.S. Sanctions

Venezuela is ignoring U.S. sanctions with its plan to boost production to 1.5 million bpd by the end of the year, around three times the current output.

Crude Oil

VLCC Owners Stand to Gain from OPEC’s Decision to Raise Crude Oil Production

Owners of the largest crude oil tankers stand to gain from the recent OPEC’s decision to increase production.

OPEC

OPEC+ is Boosting Oil Production, Ending Dispute that Shook Energy Markets

OPEC+ agreed to increase oil production Sunday, as demand roars back and prices surge, ending a dispute between the United Arab Emirates and Saudi Arabia.

Oil&Gas Drilling

I3 Energy Finishes Drilling Second Oil Well at Canada Project

i3 Energy PLC said Thursday that drilling operations on the second well at the Marten Hills Clearwater drilling program in Canada have been completed, with prod…

Oil Price

Video: Oil Prices Pushed Up By Rivalry Between Saudi Arabia & UAE, Why Are These Two Gulf Nations Sparring?

​A public rift between the UAE & Saudi Arabia over oil production quotas has led to soaring oil prices.

OPEC

Video: UAE and Saudi Arabia’s spat over OPEC oil production

​Saudi-led plan to extend a deal capping oil production triggers a dispute between two OPEC heavyweights.

Oil Price

Oil Prices Jump to Multiyear Highs After OPEC+ Talks Yield No Production Deal

Oil jumped to its highest level in nearly three years on Monday after talks between OPEC and its oil-producing allies were postponed indefinitely, with the grou…

Crude Oil

OPEC+ Fails To Hike Oil Production, Delays Decision Again

OPEC+ much-awaited resumption of talks today has now been delayed, indicating that Saudi Arabia and the UAE have not been able to broker any agreement after the…