Suriname's oil boom hopes are…
Four projects were planned offshore…
YPF, the Argentine state energy company, has drilled the longest horizontal oil well lateral, at 3,890 meters, or more than 12,700 feet, in the Vaca Muerta shale play, S&P Global…
Saudi Arabia is predicting that its budget deficit will balloon to US$50 billion next year as low oil prices and lowered production eat into the Kingdom’s oil revenue, according an…
Libya’s volatile production and exports may inadvertently help OPEC and its allies in supply restrictions these days, after the Libyan National Oil Corporation (NOC) has declared force majeure on crude…
OPEC+ agreed to cut production by 500,000 bpd, sending oil prices higher on Friday. During mid-day trading, WTI was just shy of $60 per barrel, and Brent moved closer to…
Before OPEC members sat down to wrangle about production quotas and compliance on Thursday, the oil minister of Iran—exempted from the ongoing cuts because of the U.S. sanctions crippling its…
An agreement to deepen oil production cuts by 500,000 bpd has put OPEC members at odds with each other as they try to hammer out the individual…
The OPEC meeting ended with ministers approving additional production cuts for Q1 2020, two delegation sources told Russian news outlet TASS on Thursday afternoon. The cuts for the OPEC+…
OPEC+ is considering deepening cuts by as much as 500,000 bpd, a more aggressive effort to head off a supply surplus in 2020. The rumors from Vienna…
The United States exported more crude oil and petroleum products than it imported in September 2019—the first month in which America was a net petroleum exporter since monthly records began…
The Bone Spring formation has been one of the most prolific shale plays in the Permian in recent years and continues to drive production growth The Bone…
The Energy Information Administration reported today a crude oil inventory draw of 4.9 million barrels for the week to November 29, after a 1.6-million-barrel increase reported for the…
The huge Johan Sverdrup oilfield in Norway’s North Sea is already producing 350,000 barrels of oil per day, two months after coming on stream, a senior executive at Equinor, the…
Next year is expected to be a turnaround for oil demand in India, according to a new study by S&P Global Platts Analytics. With weakened demand caused by an economic slowdown,…
Barring additional oil production cuts by OPEC in 2020, Rystad Energy forecasts a substantial build of global crude stocks and a corresponding drop in oil prices. A…
Oil prices fell sharply on Friday on rumors that OPEC would decline to deepen the production cuts, but the rumor mill continues to churn. Over the weekend, Iraq’s oil…
You may think (or hope) that in your daily life you don’t need to worry about unknowingly eating or otherwise ingesting crude oil or any of its many, many petrochemical…
This is a guest post by Ovi here. All of the oil production data for the states comes from the EIA?s Petroleum Supply Monthly. The charts below are…
Ever since the U.S. signalled through its effective withdrawal from Syria that it now has little interest in becoming involved in military actions in the Middle East, the door has…
Despite oil prices trading in a range that should have stimulated a notable improvement in consumption, the world actually consumed just 1.6 percent more oil between June and August this…
The energy industry is based on what was once thought of as an inexhaustible natural resource, but over-exploitation and a growing reliance on oil has made extraction more and more…