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Oil production
Oil Field
Production of Iran's South Yaran Oil Field Increases
The oil production at the South Yaran joint oil field in Khuzestan province in southwestern Iran (this field is called Majnoon field in Iraq) was increased as a…
Crude Oil
Oman's Daily Oil Production Up 12.83% in March
Oman's oil ministry said in a statement that the country's daily oil production increased by 12.83% month on month in March this year.
Crude Oil
Kazakhstan to Cut Oil Production by 390,000 Barrels Per Day
Kazakhstan will reduce oil production by 390,000 barrels per day for a period of two months under the OPEC + agreement.
Oil Shale
U.S. Shale Production To Drop By Record Amount In April
The EIA expects U.S. shale oil production to drop next month to 8.526 million barrels per day in the seven most prolific shale basins in the United States, acco…
Crude Oil
Mexico Rejects Global Plan To Cut Oil Production
The deadly price war and coronavirus cocktail that threw most of the global industry into a panic seems to have missed one of the large national players: Mexico…
Crude Oil
Global Oil Producers Agree On Joint 10 Million Bpd Output Cut
OPEC has succeeded. On Thursday, the OPEC++ group agreed, in principle, to cut 10 million bpd in oil production, according to media. But will it be enough? Toda…
Crude Oil
Trump: Free Markets Will Determine U.S. Oil Production
U.S. President Trump believes local oil production output cuts will happen automatically thanks to the nature of the free market, he told reporters this week.
Oil & Gas Trade
Oil’s Demand Plunge Doing More Damage than The Price War
Imagine U.S. President Donald Trump makes a deal with Saudi Arabia and Russia to cut oil production. Envisage Washington, Moscow and Riyadh going big, each cut…
Oil Price
Exxon To Slash Spending As Oil Price Collapse Continues
Exxon has become the latest U.S. oil company to announce plans for spending cuts amid the coronavirus outbreak that caused a price slide significantly aggravate…
Oil & Gas Trade
Saudi Arabia Unveils Plans to Maximize Oil Output, Escalating a Price War with Russia
OPEC kingpin Saudi Arabia unveiled plans Wednesday to dramatically ramp up oil production, raising the stakes of an all-out price war with non-OPEC leader Russi…
Oil & Gas Trade
Saudi Arabia to up Oil Production after Opec Deal Falls Through
World’s largest oil exporter Saudi Arabia is planning to ramp up production to nearly 11m barrels a day in April after the three year alliance between oil cart…
Crude
Libyan Oil Chairman Calls On U.S. To Help End Oil Blockade
The United States should step in and help lift the blockade of Libyan oil ports that has decimated the country’s oil production, the chairman of the National O…
U.S. Sanctions Rosneft Unit for Ties to Venezuela Oil Production
The U.S. sanctioned a unit of Russia’s largest oil producer Rosneft PJSC for maintaining ties with Venezuela’s Nicolas Maduro and state-run oil company PDVSA,…
Oil & Gas Trade
Kuwait, Saudi Arabia Start Trial Oil Pumping from Divided Zone: Kuwait Minister
Kuwait and Saudi Arabia will start trial oil production from the jointly-operated Wafra and Khafji oilfields on Sunday, Kuwait’s oil minister said.
Crude
Russia Still Elusive On Deeper OPEC+ Oil Production Cuts
Russia is still reviewing the recommendation of the OPEC+ technical panel for additional cuts of 600,000 bpd in response to the slump in oil demand over the cor…
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