The US is now the top oil producer in history
26/03/2024 by OilStoreAdministrator
The United States has gained the status of being the biggest oil producer that the world has ever seen, according to
EIA increases its oil price forecast
18/03/2024 by Mark
In its latest Short-Term Energy Outlook, the US Energy Information Administration (EIA) has raised its prediction for average oil prices for
Exxon seeks arbitration over Guyana
15/03/2024 by OilStoreAdministrator
US-based oil major ExxonMobil has filed for arbitration to settle the future of operations in the Stabroek block offshore of Guyana.
EIA reports increased US oil production
14/03/2024 by Richard
The US Energy Information Administration (EIA) has published analysis revealing that record-high oil production in the United States is being driven by
OPEC+ to extend production cuts
13/03/2024 by Mark
Members of the OPEC+ group, which includes OPEC members and other oil-producing countries like Russia and Mexico, have extended their cuts to
Chevron and ExxonMobil in disagreement over Guyana stake
07/03/2024 by OilStoreAdministrator
Chevron has indicated in a securities filing that its planned acquisition of Hess Corp for $53 billion could fall apart.
US rig count rises by six
05/03/2024 by Mark
Data published by oil field services company Baker Hughes has revealed that the number of oil rigs operating in the US increased by six in February.
BP calls 2023 “the year of delivery”
27/02/2024 by OilStoreAdministrator
BP has posted its fourth-quarter results for 2023, with it referring to the year as a whole as being a “year of delivery”.
ExxonMobil production exceeds 600,000 bpd in Guyana
23/02/2024 by Mark
Oil production in Guyana, which is currently dominated by US oil major ExxonMobil, has now exceeded 600,000 barrels per day (bpd) as its third development project approaches peak production.
IEA prepared for oil market shocks
21/02/2024 by Richard
The head of the International Energy Agency (IEA), said that the organisation is prepared to coordinate the release of oil reserves, should extreme weather or geopolitical tensions disrupt supply.
Chevron produces record volume of oil and gas
13/02/2024 by Richard
US oil major Chevron has posted its fourth quarter results for 2023, with it reporting that it produced more oil and gas last year than it has in any year of its long history.
OPEC production fell 410,000 bpd in January
09/02/2024 by OilStoreAdministrator
Reuters reports that its survey of oil production has revealed that total production from OPEC countries was