US shale producers lock in prices
20/01/2021 by Mark
Shale producers in the US have started selling oil futures to lock in prices above $50 for future delivery, according to
US oil production to fall less than expected
18/01/2021 by Richard
The US Energy Information Administration (EIA) has revised its forecast for average production of crude oil in the US. Instead of dropping by 240,000 barrels per day (bpd), which it previously forecasted, it will drop…
Petrobras sets new record for oil production
14/01/2021 by Mark
Despite the ongoing COVID-19 pandemic, Brazil’s state-owned oil company Petrobras has scaled its crude oil production up to a new record of 2.3 million barrels per day (bpd), putting it on the same level as
Saudi Arabia to cut oil production
10/01/2021 by Richard
The latest meeting of the OPEC+ group ended with a surprise twist – Saudi Arabia will cut its oil production to allow Russia to make modest
Russia clashes with OPEC over oil demand
08/01/2021 by Mark
In the first meeting of the OPEC+ group this year, the participating oil producing countries initially failed to come to an agreement over production levels next month, with Russia and Saudi Arabia, the group’s biggest…
Cambodia begins oil production
06/01/2021 by OilStoreAdministrator
In the run up to the new year, the Prime Minister of Cambodia, Hun Sen, announced that the country had become an
Libya’s oil production continues to rise
02/01/2021 by OilStoreAdministrator
The lifting of the blockade in Libya continues to yield benefits for the countries oil industry, which was brought almost to a standstill for eight months when oilfields and ports were
Shell writes down oil and gas assets
30/12/2020 by Richard
Anglo-Dutch oil major Royal Dutch Shell has announced its intention to write down its oil and gas assets by $3.5 billion as it adapts to a new
US looks at pipelines for Middle East oil
28/12/2020 by Mark
Dan Brouillette, the US Energy Secretary, is floating the idea of using pipelines as an alternative to tankers for transporting oil from the Middle East. This would reduce the reliance on tankers needing to pass…
OPEC lowers its 2021 demand forecast
26/12/2020 by OilStoreAdministrator
The OPEC group has slightly downgraded its expectations for a resurgence in demand next year, citing a slow recovery in
Shell backs hydrogen plane start-up
22/12/2020 by Richard
Anglo-Dutch oil major Royal Dutch Shell has lent its backing to California-based start-up ZeroAvia, which aims to develop
Exxon Mobil to reduce emissions intensity
20/12/2020 by OilStoreAdministrator
Oil major Exxon Mobil has set itself the target of lowering the intensity of emissions from greenhouse gasses on