Crude oil production – Page 2

OPEC+ considers pausing production increases after September hike – Bloomberg

July 10, 2025

(Investing)– OPEC+ is discussing a potential pause in further oil production increases following its next monthly supply hike, Bloomberg reported, citing delegates familiar with the discussions. Saudi Arabia and its partners have a tentative plan to complete their 2.2 million-barrel supply revival in September, with one more monthly increase of 550,000 barrels. After this September increase, the oil producer

U.S. production growth to slow amid drilling decline, says EIA

July 9, 2025

(World Oil)– The U.S. sees domestic crude output growth slowing more than expected this year as choppy oil prices limit drilling activity. U.S. crude output is now expected to grow by 160,000 bpd this year to 13.37 million bpd and remain flat in 2026, according to the Energy Information Administration’s Short-Term Energy Outlook released Tuesday. The production forecast for this

UAE says oil markets are absorbing more barrels without stocks rising

July 9, 2025

(BOE Report)– Oil markets are absorbing OPEC+ production increases without building inventories, which means they are thirsty for more oil, United Arab Emirates’ Energy Minister Suhail al-Mazrouei said on Wednesday. OPEC+, which pumps about half of the world’s oil, has been curtailing production for several years to support the market. But it has reversed course this year to regain

Oil prices dip on tariff expectations

July 9, 2025

(Oil Price)– Crude oil prices took a dip today after hitting a two-week high earlier, as traders awaited updates on President Trump’s tariff plans, following the latest delay in trade deals with some key partners such as Japan and South Korea. Brent crude was trading at $70.07 per barrel at the time of writing, with West Texas Intermediate changing hands for $68.26 per

Saudi Arabia’s crude oil exports jumped by 400,000 bpd in April

July 8, 2025

(Oil Price)– Saudi Arabia’s crude exports soared by 412,000 barrels per day (bpd) in April from March, the latest data by the Joint Organizations Data Initiative (JODI) showed on Tuesday. Saudi Arabia, the world’s top crude exporter, saw its exports in April at an average of 6.17 million bpd, according to the JODI data which compiles self-reported figures from the individual

OPEC+ set to complete big oil output cut unwinding in Sept, sources say

July 7, 2025

(BOE Report)– OPEC+ oil producers are set to approve another big output boost for September as they complete both the unwinding of voluntary production cuts by eight members and the United Arab Emirates’ move to a larger quota, five sources said. The group, which pumps about half of the world’s oil, has been curtailing production for several years to support

EIA forecasts Alaska crude oil production will grow in 2026 for the first time since 2017

March 19, 2025

(World Oil) – In its March 2025 Short-Term Energy Outlook, the U.S. Energy Information Administration (EIA) forecast crude oil production in Alaska will increase by 16,000 barrels per day (bpd) in 2026 to 438,000 bpd after remaining relatively flat in 2025. Two new oil developments in Alaska — the Nuna and Pikka projects — are expected to boost crude oil

US shale companies produce more crude using fewer rigs

August 13, 2024

US shale companies produce more crude using fewer rigs

OPEC crude oil production remains steady as Iraq, UAE pump above quota

July 2, 2024

World Oil (Bloomberg) – OPEC’s crude production remained steady for a third month, while some key members continued to pump above agreed limits. OPEC produced an average of 26.98 MMbpd in June, or 80,000 bpd less than during the previous month, according to a Bloomberg survey. Small reductions in Iraq and Nigeria drove the decline. The survey showed that Iraq

Brazil’s offshore revival seeks to double crude output by 2030

July 26, 2021

Worldoil.com RIO DE JANEIRO (Bloomberg) –If an energy transition is underway around the world, it hasn’t reached the streets of Ilha da Conceicao, the working-class district at the heart of Rio de Janeiro’s oil revival. There, buses and trucks are piling into Baker Hughes Co.’s shipyard, where the energy services giant is churning out hundreds of kilometers of oil and

U.S. crude output to decline less than previously forecast in 2021: EIA

January 12, 2021

Reuters NEW YORK – U.S. crude oil production is expected to fall by 190,000 barrels per day (bpd) in 2021 to 11.1 million bpd, the U.S. Energy Information Administration (EIA) said on Tuesday, a smaller decline than its previous forecast for a drop of 240,000 bpd. Saudi Arabia this month pledged additional, voluntary oil output cuts, sending oil prices to

North Dakota crude oil production fell in May beyond natural declines

August 20, 2020

EIA Between December 2019 and May 2020, crude oil output in North Dakota fell from an average of 1.5 million barrels per day (b/d) to 0.9 million b/d, a decline of more than 615,000 b/d (41.6%). This production decline is greater than it would have been if producers solely halted new drilling and allowed production from current wells to naturally

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