Saturday, June 13, 2026
Oil Surplus Makes Surprise Return Despite OPEC Cuts, IEA Says - Oil&Gas360

OPEC Cut Compliance Rises to 94%: Reuters

From Reuters OPEC has cut its oil output for a second month in February, a Reuters survey found on Tuesday, allowing the exporter group to boost already strong compliance with agreed supply curbs on the back of a steep reduction by Saudi Arabia. The Organization of the Petroleum Exporting Countries is cutting its output by about 1.2 million barrels per

Minnesota Governor Signs Natural Gas Bill

From the Star Tribune Gov. Mark Dayton Tuesday signed a bill allowing Xcel Energy to build a large natural gas-fired power plant in Sherburne County, without having to go the traditional route of gaining approval from Minnesota utilities regulators. Minneapolis-based Xcel, the state’s largest electricity provider, wants to build a 786-megawatt generator in Becker to partly replace power that will

PetroShare Corp. Acquires 5,900 Gross (1,465 Net) Acres in DJ Basin

PetroShare Corp. (ticker: PRHR) today announced it has entered into a purchase and sale agreement with an independent third party seller to acquire oil and gas leases totaling approximately 5,879 gross (2,930 net) acres, with an average net revenue interest of 84%, located in Weld and Adams Counties, Colorado. The total purchase price for the leases and associated assets is

Lukoil’s Middle East Head Sees Oil at $55-$65/bbl on Cuts

From Bloomberg Oil will stabilize around $55 to $65 a barrel as OPEC fulfills its agreement to cut output, with stockpiles and shale production keeping prices from rising much more, the Middle East head of Lukoil PJSC said. Russia’s second-largest oil producer hasn’t had to reduce production in Iraq as a result of the curbs pledged by OPEC, Gati Al-Jebouri