(BOE Report) – Guyana’s oil production increased to 685,000 barrels per day in August from 664,000 bpd the previous month, boosted by the start-up of the fourth floating output facility in the South American country, government data seen on Wednesday showed. A consortium led by U.S. energy major Exxon Mobil, which controls all oil and gas output in Guyana, earlier this
(Oil Price) – The U.S. LNG export boom could soon face challenges by the end of the decade, both at home and on the international market. Huge export capacity additions, mostly in the United States and Qatar, are set to tip the global LNG market into an oversupply as soon as next year, depressing prices and eating into the profit margins
(World Oil) – Condor Energies has launched a multi-well drilling program in Uzbekistan as the Canadian independent looks to expand natural gas production and reserves across its portfolio in Central Asia. The campaign begins with a vertical well targeting producing carbonate reservoirs and deeper stacked clastic and basement formations at around 3,000 meters. Drilling and evaluation of the well are
(BOE Report) – Kremlin spokesman Dmitry Peskov, asked about the possible return of Exxon Mobil to Russia, said on Wednesday that the U.S. energy major was not the only company keen to return to the country. “Believe me, there is more than one corporation that is interested in reincarnating its presence on the Russian market,” Peskov told RBC radio. Many Western companies,
(Investing) – NEW YORK -Oil prices climbed about 1% to a three-week high on Wednesday as a surprise drop in U.S. weekly crude inventories added to a sense in the market of tightening supplies amid export issues in Iraq, Venezuela and Russia. Brent futures rose 94 cents, or 1.4%, to $68.57 a barrel by 10:55 a.m. EDT (1455 GMT), while U.S. West
Weekly Crude Oil Storage as of September 19, 2025 U.S. commercial crude oil inventories (excluding those in the Strategic Petroleum Reserve) decreased by 0.6 million barrels from the previous week. At 414.8 million barrels, U.S. crude oil inventories are 4% below the five-year average for this time of year, according to the EIA crude oil and petroleum weekly storage data,
