Post Tagged with: "oil output"

Source: Reuters

Iran oil output faces race against time as U.S. sanctions linger

Reuters


LONDON/SINGAPORE – Iran’s oil reserves risk becoming stranded assets unless the new U.S. administration eases sanctions that have left the country lagging rivals in output capacity and losing a race against time as the transition to low carbon energy …

February 15, 2021 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

Saudi’s surprise output cut to lift Brent to $60/bbl by mid-year – UBS

Reuters


UBS raised its forecast for Brent oil prices to $60 per barrel by mid-year, following Saudi Arabia’s surprise unilateral production cut and expectations of a sharp recovery in demand in the second quarter on vaccine rollouts and increased travel.…

Source: Reuters

OPEC oil output rises for fifth month on Libyan recovery, Reuters survey shows

Reuters


LONDON – OPEC oil output rose for a fifth month in November, a Reuters survey found, as increased Libyan production offset full adherence by other producers to cuts agreed in an OPEC-led supply deal.

The 13-member Organization of the …

November 30, 2020 - 10:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil price path depends on coronavirus control: Kemp

Reuters


LONDON- Global jet fuel consumption remains severely affected by the uneven recovery in aviation; cargo volumes have rebounded but cross-border passenger flying remains blocked by quarantine restrictions in many countries.

In the United States, commercial jet fuel production over …

Source: Reuters

Hurricane Delta steams across Gulf of Mexico, halting 80% of oil output

Reuters


HOUSTON – Hurricane Delta raked across the prime U.S. offshore oil producing areas in the Gulf of Mexico on Thursday as energy companies pulled workers from offshore platforms and began securing coastal processing plants.

The storm was about 400 …

October 8, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Mexican crude oil output slips to record low in July

Mexican crude oil output slips to record low in July

Reuters


MEXICO CITY  – Mexico’s oil output hit a record low in July at 1.605 million barrels per day (bpd), down slightly for both state-run Pemex and upstart private producers and putting the country’s oil patch on track for its …

Source: Reuters

Hurricane Laura poses biggest storm threat to U.S. oil output in 15 years

Reuters


HOUSTON  – The U.S. energy industry on Tuesday was preparing for a major hurricane strike, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining at plants along the Texas-Louisiana coast.

Officials …

August 26, 2020 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

OPEC oil output sinks as Saudi deepens cuts and others cut more, survey shows

Reuters


LONDON  – OPEC oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf Arab members made larger cuts, a Reuters survey found, pushing group compliance in a supply reduction pact above 100% despite …

Source: Houston Chronicle

OPEC output falls as Gulf nations step up delivery of oil cuts

Houston Chronicle


OPEC’s output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets.

Saudi Arabia, Iraq and the United Arab Emirates reduced production in December, the final month of …

FILE PHOTO: Pump jacks are seen at the Ashalchinskoye oil field owned by Russia's oil producer Tatneft near Almetyevsk, in the Republic of Tatarstan, Russia, July 27, 2017. REUTERS/Sergei Karpukhin

Russia says it missed oil-deal target due to rise in gas condensate output

Reuters:


Russia produced more oil in September than envisaged by a global deal due to an increase in gas condensate output as the country prepared for winter, local news agencies reported on Sunday.

Russian oil output edged down to …

October 21, 2019 - 11:10 am Closing Bell Story‎, Energy News
Saudis’ Biggest Oil Surge in 5 Years Barely Steadies OPEC

Saudis’ Biggest Oil Surge in 5 Years Barely Steadies OPEC

From Bloomberg

Under U.S. pressure, kingdom boosts production by 330,000 b/d

Libyan, Venezuelan losses mean total OPEC output holds steady. Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses …

Saudi Arabia Puts Pedal to the Floor on Oil Production

Saudi Arabia Puts Pedal to the Floor on Oil Production

“If you are Saudi Arabia…you would go to full capacity”

Goldman Sachs and Citi Group predict that Saudi Arabia will likely start to push production to its daily maximum of 11 MMBOPD in the second half of 2015, reports Bloomberg