Oil prices dropped sharply following the International Monetary Fund’s (IMF) downgrading of its forecast for global economic growth for both 2018 and Continue reading Oil prices lower as IMF downgrades growth forecast

The US Energy Information Administration has released its figure for July’s oil production, reaching almost 11 million barrels per day (bpd). This is a Continue reading US oil production on track for new heights

Fatih Birol, Executive Director of the IEA, has called for major oil producers to take steps to alleviate concerns over oil supply, which have recently carried oil prices to a four-year high of over $85 per barrel.

Speaking to Continue reading IEA boss calls for increased oil production

Speaking in Moscow at an energy forum, Khalid al-Falih, Saudi Arabia’s Energy Minister, has indicated that his country is currently producing 10.7 million bpd (barrels per day) of oil and expects to continue this Continue reading Saudi Arabia boosts oil production

Reuters reports a source in the energy sector as saying that Russia is on track to set a new monthly production record for its post-Soviet era.

Excluding Continue reading Russia on track for post-Soviet production record

ExxonMobil, the US oil giant that makes lubricants for Mobil stockists, has officially joined the Oil and Gas Climate Initiative, an organisation set up in 2014 to reduce greenhouse gas emissions from the oil and Continue reading ExxonMobil and others join climate change initiative

Reuters is quoting a source as saying that OPEC and its partners are in discussions about a possible 500,000 bpd (barrels per day) production increase to compensate for declining oil supplies from Iran, as US sanctions begin to Continue reading OPEC mulls production boost