This article was published by the International Energy Agency on Oct. 17, 2025. By Toril Bosoni, Head of Oil Industry and Markets Division Oil surplus hits the water The global oil market may be at [Read more]
By Jimmy Troderman This article was published by the US Energy Information Administration on Jan. 4, 2022. Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy [Read more]
By Emily Geary This article was published by the US Energy Information Administration on Mar. 2, 2020. Annual US crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, [Read more]
The US Energy Information Administration forecasts that despite recent supply reductions, global liquid fuels production to outpace demand. Repsol photo. Saudi Arabia, Libya, Venezuela and Canada cut pack on liquid fuels production By Matthew French [Read more]
According to a survey by Reuters, OPEC production saw its largest monthly decline in two years this month. The decline is due to the cartel’s most recent supply cut agreement. Reuters photo. OPEC production down [Read more]
Overall OPEC production fell in December according to a survey by Reuters, mostly due to a 400,000 barrel per day cut made by Saudi Arabia. Iran and Libya posted involuntary production declines. Reuters file photo [Read more] [Read more]
Saudi Arabia says it is hoping an oil supply deal could result in an overall production cut of at least 1.3 million barrels per day, or 1.3 per cent of the world’s crude output. Bloomberg [Read more] [Read more]
Proved US oil reserves increased by 6.4 billion barrels (19.5 per cent) in 2017 compared with the previous year, according to the US Energy Information Administration. Harvest Oil & Gas image. Shale plays accounted for [Read more] [Read more]
Saudi crude shipments are expected to be reduced in December by 500,000 barrels per day next month, according to the kingdom’s energy minister. Bloomberg photo. Saudi crude shipments cut in response to lower seasonal demand [Read more]
In its monthly report, the US Energy Information Administration says US crude output is expected to average 12.06 million barrels per day (b/d) by mid-2019. Anadarko photo. US crude output expected to average 12.06 million [Read more]
The Trump administration is temporarily granting eight countries permission to purchase oil from Iran. The Iran sanctions exemptions for China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey are set to last up to [Read more]
Saudi Arabia has been able to boost its oil output, however, shortfalls from Iran, Venezuela and Angola mean that increased OPEC output pledges may not be met. Total photo. Trump looks for higher OPEC output [Read more]
NOPEC, or No Oil Producing and Exporting Cartels Act has been dormant for years as past presidents have signalled they would veto any move to pass the legislation. Anadarko photo. NOPEC could open OPEC up [Read more]
Price moves tend to accelerate in the run-up to cyclical peaks and troughs, as the oil market struggles to overcome a worsening deficit or surplus. Total photo. In 2007, concerns about the oil market were [Read more]
Iran’s OPEC governor, Hossein Kazempour, says US President Donald Trump is wrong to think that Saudi Arabia and other producers, including Russia, will be able to compensate for millions of barrels of crude taken out [Read more]
An official with the government of Iran said removing Iranian crude from the global oil market by November is not possible, based on the volume of exports. Irna.ir photo. 2.5 million barrels of Iranian crude, [Read more]
April’s OPEC output dropped to a one-year low mostly due to significantly lower production from Venezuela and reduced exports from the cartel’s African producers, according to a Reuters’ survey. Anadarko photo. OPEC output in April hit [Read more]
OPEC heavyweight Saudi Arabia, led by Crown Prince Mohammed bin Salman, is in talks with Russia to extend their production output cap deal that could last up to 20 years, according to a report by [Read more]
OPEC Secretary General Mohammad Barkindo, other OPEC officials will meet with US shale companies in Houston to talk about the global oil glut. OPEC photo. Rising US shale production helped boost overall US output to [Read more]
@2020 Energi Media Ltd., | Thoughtful Energy Journalism
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