Stocks in PADD 2 and PADD 5 also fell, but the declines were modest. EIA estimated PADD 2 stocks dropped by 102,000 bbl to 7.771 million bbl and had PADD 5 stocks down by 55,000 bbl to 12.407 million ...
Monday's sharp pullback in oil prices took back a large chunk of the previous week's upward move and analysts at Goldman Sachs said that it was the market's focus turning from Russian production to ...
Anadarko Petroleum Corp. has started a second oil production train at Hassi Berkine South oil field in Algeria, which eventually will boost output to 135,000 b/d from 74,000 b/d. With the development ...
- As oil prices moved to the mid-80s due to Saudi Arabia’s production cuts and robust summer demand, US oil producers see additional incentives to ramp up supply, setting new all-time production ...
EIA PSM came out today for December, and there are far more questions than answers. For starters, the EIA reported the highest ever "crude oil supply" figure in history. This is calculated by taking ...
- Saudi Arabia and Russia, the two heavyweights of OPEC+, have managed to coordinate a wider response to weakening market sentiment and agree on voluntary cuts of 2.2 million b/d in their latest ...
The OPEC Secretariat has denied reports that appeared in the world media on Tuesday about plans by eight OPEC+ member countries to increase production by 500,000 barrels per day over three months, ...
Norway’s Norsk Hydro sees the potential for production of 100,000 b/d of oil from a find in Iran’s Anaran block, following the testing of the Azar-2 discovery well (MEES, 15 August). Hydro Executive ...
Seplat Energy plans up to $3 billion in investments over five years for recently acquired ExxonMobil assets. The Nigerian firm aims to increase production by 50% to 200,000 barrels per day equivalent.
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