July saw the world’s supply of oil increase, thanks in part to an unexpectedly sharp rise in Russian oil production. Continue reading Russia helps grow global oil production
According to comments from Abdullah Hussain Haroon, Pakistan’s Minister for Maritime Affairs and Foreign Affairs, ExxonMobil is on the verge of discovering huge new oil reserves Continue reading ExxonMobil set for major oil discovery in Pakistan
Scotland oil industry is preparing to reverse years of regression, according to the Scottish newspaper Daily Record.
The paper quotes port bosses, in Continue reading Scottish oil industry shows signs of recovery
In what has been predicted to be a record-breaking year for US oil production, there is an indication that the recent boom may be faltering.
The US state of Texas looks likely to shatter its all-time annual oil production record of 1.263 billion barrels from 1972. What’s more, this will be achieved with fewer rigs and workers than a few years ago.
Texas oil economist Continue reading Texas set to break annual oil production record
The International Energy Agency’s energy markets and security director has testified before the Senate Energy and Natural Resources Committee that the US alone cannot ramp up production enough to have a significant effect on Continue reading US not producing enough oil for prices to be lowered
The US is set to become the world’s top oil-producing nation for the first time since the mid-1970s, according the July short-term energy outlook from the Continue reading US to soon become world’s top oil producer
Venezuela’s ailing oil sector may receive a welcome boost through investment from China, according to a report Continue reading China to invest $250 million boosting Venezuela oil production
US President Donald Trump has claimed that he has gained assurances from King Salman of Saudi Arabia to increase production by up to two million barrels per Continue reading Confusion ensues as Trump claims two million bpd Saudi production boost
The price of Brent crude dipped on Monday June 4 to $75.53 a barrel before recovering most of its losses to trade at over $76 a barrel by lunchtime in the UK. The move was believed to be triggered by latest monthly data released by the US Energy Information Administration (EIA) last week.
In its latest data, the EIA has US oil production running at a new record of Continue reading Oil price dips on record US oil production