IEA November report points to weaker than expected demand

The November Oil Market Report from the Paris-based International Energy Agency has been published, with the highlights including weaker forecasted demand growth and an increase in non-OPEC oil production. (more…)

US weekly oil production hits record high

The US Energy Information Administration has released preliminary data that shows the week ending Friday, November 3 setting a (more…)

Report finds UK petroleum reserves could last another two decades

A new report from the Oil & Gas Authority (OGA) has estimated the UK’s proven and probable oil and gas reserves at 5.7bn barrels of (more…)

Russia set to raise output in 2018 if no pact extension

Russian Energy Minister Alexander Novak has said that should the deal between OPEC and its non-OPEC partners not be extended, it expects to increase oil production by 3.5 to 4 million tonnes (more…)

Industry players believe US shale production yet to peak

A number of delegates at London’s Oil & Money conference have expressed the opinion that the US shale production rebound has not peaked yet, and high production levels will continue for years to come.

Most opinions are (more…)

Spectro Scientific announces new software and companion kits

Version 11 of the software for the MicroLab oil analysis system has been announced by Spectro Scientific, in addition to the release of some new companion kits.

The new software features an (more…)

US rig count falling but production still rising

In a sign that the US shale boom may be running out of steam, the US rig count dropped by four in the week ending October 6.

There are now 936 oil and (more…)

Shell seeks new investors for billion-pound windfarms

The Independent reports unnamed sources as saying that Shell and its partners, Mitsubishi and Dutch energy company Eneco, are seeking to (more…)

Libyan oil production set to rise

Bloomberg reports an unidentified source as saying that oil production is set to recover in Libya as its Sharara field restarts. Production was (more…)

Saudi Arabia hints at possible extension to supply cut deal

Speaking to Reuters on October 26, Crown Prince Mohammad bin Salman of Saudi Arabia signalled his country’s determination to (more…)

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