Saudi Arabia calls for oil producers to continue cooperation after 2018
27/01/2018 by Mark
Talking to reporters before the January 21 meeting of the joint ministerial committee, Saudi Energy Minister Khalid al-Falih urged oil-producing countries to
ExxonMobil and MagnaBond form new partnership to develop well integrity evaluation technology
24/01/2018 by Richard
ExxonMobil, the oil major that supplies Mobil UK stockists, has announced a new three-year partnership with MagnaBond to develop new technologies to
Iraq’s oil production capacity approaches five million bpd
21/01/2018 by Mark
Jabar al-Luaibi, Iraq’s Oil Minister, has announced that the country’s production capacity is nearing five million bpd (barrels per day), but he also stated that Iraq would stand by its commitments as an OPEC member…
EIA expects US oil output to reach 11 million bpd before 2020
18/01/2018 by Mark
In its first short-term forecast for 2019, the US Energy Information Administration painted a picture of US oil output averaging 10.85 million barrels per day (bpd) over the year, with daily output hitting the
Permian oil production reaches fresh high
09/01/2018 by Mark
Oil production in the prolific Permian Basin hit a new record of 815m barrels in 2017 according to recent research from IHS Markit, a
Oil prices start 2018 with strong opening
06/01/2018 by OilStoreAdministrator
Oil prices began the New Year at their highest level since 2014 against the background of anti-government protests in Iran, which
Rosneft sees possibility of output cuts beyond 2018
03/01/2018 by Richard
While presenting Rosneft’s strategy through to 2022, the company’s first vice president, Pavel Fedorov, indicated that he accepts the possibility that
Libya's oil production set back by pipeline explosion
30/12/2017 by OilStoreAdministrator
Libyan oil production was hit on Tuesday December 26 as a section of a pipeline exploded 81 miles south of Sidra.
US shale drillers set for production increase in January
27/12/2017 by Mark
The US Department of Energy’s most recent forecast predicts that US shale oil producers will kick off 2018 with strong output growth
OPEC production at six-month low, but US shale output rises
21/12/2017 by Richard
OPEC’s recent monthly oil market report states that its total production fell by 133,500 bpd (barrels per day) in November to 32,448 million bpd, marking a six-month low for
Brent rises as key pipeline shuts down
15/12/2017 by OilStoreAdministrator
Prices for the benchmark Brent crude rose by 2% earlier this week to a new two-year high as Ineos announced it had shut down a key North Sea oil pipeline in order to repair a…
Goldman analysts raise oil price forecast for next year
12/12/2017 by Richard
Following surprisingly robust commitment for extending the OPEC-led production cuts, analysts at Goldman Sachs have revised