Oil Production Archives - Oil & Gas 360

U.S. crude oil production on track for record 13.8 MMbpd in 2026, EIA says

September 10, 2026

(World Oil) – U.S. crude oil production is on track to reach a record average of 13.8 MMbpd in 2026, driven by continued Permian basin growth and rising output from new projects in the federal Gulf of America, according to the U.S. Energy Information Administration‘s latest Short-Term Energy Outlook (STEO). The forecast would surpass the previous annual record of 13.7 MMbpd set in 2025.

Venezuela oil production could reach 2 MMbpd as investment accelerates

September 4, 2026

(World Oil) – Venezuelan bonds have jumped since the Trump administration moved to take control of a huge swath of the country’s oil reserves, as investors factor in the prospect of higher crude production ahead of a debt restructuring that could top $200 billion. The plan, which gives the U.S. control of more than 65 Bbbl of proven reserves, has pushed

Guyana targets 1.7 MMbpd oil production by end of decade

September 4, 2026

(World Oil) – Guyana’s oil production has climbed above 900,000 bpd and is on track to approach 1.7 MMbpd by the end of the decade as the country continues to expand offshore development and exploration, Natural Resources Minister Vickram Bharrat said. Speaking at the in-country launch of Caribbean Energy Week 2027, Bharrat said Guyana’s production has grown from approximately 80,000 bpd in 2020, making the country one of

Ecopetrol closes $1.2 billion Brava Energia acquisition in Brazil

August 19, 2026

(World Oil) — Ecopetrol has completed its approximately $1.2 billion acquisition of a controlling 51% stake in Brava Energia, significantly expanding the Colombian energy company’s upstream position in Brazil. The transaction closed following receipt of required regulatory approvals and combines shares acquired through a voluntary tender offer with shares purchased under an April agreement with existing Brava shareholders. Ecopetrol acquired approximately 25% of Brava’s outstanding shares

Venezuela signs oil deals with SLB and hunt to boost production

August 19, 2026

(Oil Price) – Venezuela has signed deals with oilfield service major SLB and Hunt Oil Co. as part of efforts to boost investment in its key energy industry, Bloomberg reported, citing a TV statement made by the South American country’s oil minister, Paula Henao. One of the deals involves development of two fields and the other is a framework deal

U.S. shale majors cut spending despite higher oil prices

August 18, 2026

(Oil Price) – U.S. oil companies dominating the shale patch are planning to trim their spending plans and instead take advantage of higher international oil prices to reduce debt and boost shareholder returns. This is bad news for production growth. Bloomberg reported earlier this month that all the big names in shale had reduced their spending over the first six months of

Petro-Victory increases Brazil oil production 128% through mature-field workovers

August 14, 2026

(World Oil) — Petro-Victory Energy Corp. has more than doubled oil production during its first year of operations at Capixaba Energia in Brazil, while reducing production costs and identifying additional reservoir opportunities through a workover and optimization program. Oil production increased 128%, from 256 bpd to 583 bpd, while natural gas production rose 471%, Petro-Victory reported. Production costs declined 37%, from

Petrobras sets production record of 3.34 MMboed in second quarter

July 31, 2026

(World Oil) — Petrobras increased its oil and natural gas production 14.1% year over year to a record 3.34 MMboed in the second quarter of 2026, driven by the continued ramp-up of major pre-salt developments in the Santos basin and improved operational efficiency across its offshore portfolio. Production also rose 3.4% from the first quarter as the company benefited from increasing

bp boosts U.S. Gulf output with Atlantis expansion startup

July 31, 2026

(World Oil) — bp has started production from its Atlantis expansion project in the U.S. Gulf of America/Mexico, adding approximately 10,000 boed of gross peak annualized production while extending the life of one of the company’s flagship deepwater developments. Located about 150 miles south of New Orleans, the Atlantis field has been producing for nearly two decades. The expansion includes two new subsea

Iraq warns it might leave OPEC if oil quota not raised, sources say

June 25, 2026

(Investing) – Iraq has considered leaving OPEC if the oil producer group does not allow Baghdad to significantly increase oil production, sources with knowledge of the matter told Reuters. The prospect of Iraq leaving would be a serious blow to the Organization of the Petroleum Exporting Countries, which saw the United Arab Emirates walk away less than two months ago.

$Energy Market Assessment: The fracking revolution working here & freedom growing over there- oil and gas 360$

Energy Market Assessment: The fracking revolution working here & freedom growing over there

June 15, 2026

(Oil & Gas 360) – The Fracking Revolution Working Here & Freedom Growing Over There Have UP The Direction We Head With Prosperity Production Growing Here. Employment Increasing and it more than expected confirms prosperity producing growth the direction we head. Establishments increasing employment 172,000 in May to another new record high of 159.001 million (Figure 1, red line) was notably

BP starts process to sell stakes in two Gulf of Mexico projects, sources say

June 15, 2026

(BOE Report) – British oil major BP has started a process to sell stakes in two of its Gulf of Mexico projects, four people with knowledge of the matter said, in what would be one of new CEO Meg O’Neill’s first moves. BP, one of the largest operators in the Gulf of Mexico, has been weighing a sale of minority

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