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Crude Oil
Iran Projects 90 Days to Hit 4 million Barrels of Daily Oil Output Once Sanctions are lifted
Iran plans to restore the bulk of its crude oil production within one month of the easing of U.S. sanctions if world powers manage to broker the revival of the …
OPEC
Russia Claims Its Compliance With OPEC+ Cuts Was Almost 100% In May
Russia was close to complying 100 percent with its oil production quota under the OPEC+ deal in May
Crude Oil
Iran Claims Its Oil Production Could Jump To 6.5 Million Bpd
Iran can boost its crude oil production to as much as 6.5 million barrels per day when the U.S. sanctions on its oil industry are lifted, Iranian Oil Minister B…
Oil Exploration
China Makes Headway in Construction of New Offshore Oil Platform
The float-over installation of the Lufeng 14-4 central platform, China's largest independently designed and built offshore crude oil production platform, has be…
OPEC
OPEC’s Oil Exports Are Surging By 1 Million Bpd In May
OPEC’s oil exports have jumped by 1 million barrels per day so far in May, while the OPEC+ group started easing the production cuts by 350,000 bpd this month, …
Crude Oil
China April Crude Oil Output Up 3.4 pct on yr
China's April domestic crude oil production rose 3.4 percent on year to 16.41 million tonnes.
Crude Oil
U.S. Energy Production Saw Steepest Drop On Record In 2020
Due to economic responses to the pandemic, U.S. energy production dropped by 5 percent last year, marking the steepest annual decline on record.
Crude Oil
BHP Produces First Oil from Ruby Project
Oil and gas company BHP has produced first oil production from the Ruby project, which is located offshore Trinidad and Tobago.
Crude Oil
OPEC+ Unlikely To Drastically Change Oil Pact Next Week
The OPEC+ group is unlikely to make any material changes next week to the plans to ease the production cuts over the next three months.
Oil Price
Angola May Privatize State-Owned Oil Firm To Boost Production
OPEC member Angola was Africa’s top oil producer six years ago when oil prices crashed in 2015-2016, slashing oil-producing countries’ revenues and forcing in…
Oil & Gas Supply
Guyana Estimates Future Oil Production At 1 Million Bpd
Guyana has estimated its future oil production at 1 million barrels per day by 2027, from seven floating production, storage, and offloading (FPSOs) vessels in …
Video: China's Oilfield Put in Efforts to Reduce Carbon Emission, Increase Oil Production
Shengli Oilfield in China has rolled out significant measures to reduce emissions of carbon dioxide, which have simultaneously helped to increase oil production…
Crude Oil
U.S. Oil Production Still 2 Million Bpd Under Pre-Pandemic Levels
The EIA might be forecasting that the Permian Basin’s oil production will be rebounding soon, but overall, today’s U.S. oil production is still 2 million barr…
Oil Price
The $7 Trillion Reason Saudi Arabia Is Cutting Oil Production
Strict production discipline by OPEC and its partners is the #1 reason why oil prices have managed to stage a remarkable recovery and stay relatively high after…
Oil Field
Southeast Asia Looks To Increase Offshore Oil Production
Malaysia and Brunei have signed an agreement to develop two offshore oil fields on the maritime boundary, with greater exploration of recent ultra-deepwater dis…
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