Speaking in Istanbul, Alexander Novak, Russia’s energy minister, has denied there may be a need to cut or freeze production levels in OPEC countries and Continue reading No need to cut oil supplies, says Novak
The Paris-based International Energy Agency (IEA) has issued a stark warning to some of the world’s leading oil producers to cut down their reliance on energy revenue. The Continue reading IEA warns top oil producers
Reuters reports having seen an internal document prepared by OPEC’s Vienna headquarters for a technical panel. It reveals that it and its partners are facing difficulties in delivering the output increases agreed in Continue reading OPEC struggling to achieve oil boost
The CEO of Schlumberger, the world’s largest oilfield services company, has warned that US shale growth may not meet the current high expectations.
Ryan Zinke, Secretary of Continue reading US shale may grow less than expected
A government official has said that he expects US oil production to reach 14 million bpd (barrels per day) by 2020.
OPEC’s overall oil output rose in September by 132,000 bpd (barrels per day) despite new upcoming US sanctions against Iran, which are already hitting the Continue reading OPEC production up despite Iran sanctions
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 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