Oil production unchanged following OPEC+ meeting
10/10/2023 by Richard
At the most recent meeting of the Joint Ministerial Monitoring Committee (JMMC), which was held over videoconferencing, the OPEC+ group together decided to leave their production of crude oil quotas unchanged.
OPEC boss expects growing demand for oil
09/10/2023 by Mark
Haitham Al Ghais, the Secretary General of OPEC, has said he expects the global demand for crude oil to remain “resilient” this year.
Record US production offsets OPEC+ cuts
06/10/2023 by greg
Oil producers in the US are helping to counter shortages in the supply of crude oil by reaching record levels of production, despite deploying fewer drilling rigs.
ExxonMobil moves to high-value crude products
04/10/2023 by OilStoreAdministrator
With customer demand shifting as part of the energy transition, ExxonMobil says it is moving its refining operations away from fuels and towards higher value products like lubricants.
TotalEnergies' board backs multi-energy strategy
03/10/2023 by Mark
The board of energy giant TotalEnergies has reiterated its support for the company’s multi-energy strategy, whereby it focuses on
Goldman Sachs raises 12-month Brent forecast to $100 per barrel
29/09/2023 by OilStoreAdministrator
Analysts at investment bank and financial services firm Goldman Sachs have raised their forecast for the price of Brent crude over the coming 12 months from $93 to $100 per barrel, over concerns that the…
Exxon and Aramco bosses push carbon capture
28/09/2023 by Mark
Appearing at a panel discussion in Calgary as part of the World Petroleum Congress, the bosses of Saudi Aramco and ExxonMobil have said they support the move to cleaner energy forms. However, they have insisted…
Saudi energy minister denies trying to push up oil prices
27/09/2023 by Richard
Prince Abdulaziz bin Salman, who serves as Saudi Arabia’s energy minister, has hit back at critics by denying that his country’s recent agreement to extend its voluntary oil production cut was about “jacking up prices”.
Oil prices head for $100 per barrel
25/09/2023 by Richard
Oil prices hit a 10-month high, with the possibility of being on track to exceed $100 per barrel for Brent Crude.
TotalEnergies mobilises support for Libyan people
24/09/2023 by Mark
Energy major TotalEnergies has suggested it has used its resources to provide relief aid to the people of Libya, following the
EIA predicts rising oil prices in fourth quarter
21/09/2023 by OilStoreAdministrator
The US Energy Information Administration (EIA) has stated in the September Short-Term Energy Outlook (STEO) that it expects the price of Brent crude oil to average $93 a barrel within the remaining quarter of the…
BP chair announces Looney replacement could be external
20/09/2023 by Richard
Helge Lund, the chairman of UK-based oil major BP, has said that for the first time in decades, an external candidate could replace former CEO Bernard Looney.