OPEC – Oil & Gas 360

Brazil, Guyana and Argentina drive non-OPEC crude growth into 2026, EIA says

December 18, 2025

(World Oil)– Global crude oil production is forecast to rise by about 800,000 bpd in 2026, with Brazil, Guyana and Argentina accounting for roughly half of that growth, according to the U.S. Energy Information Administration’s December Short-Term Energy Outlook (STEO). The EIA said crude supply growth since 2023 has been led largely by producers outside the OPEC+ group. While coordinated

Oil tanker rates to stay strong into 2026 as sanctions remove ships for hire

December 15, 2025

(BOE Report)– The cost of shipping oil is likely to remain high in the first half of 2026 as the global fleet ages and a rising number of vessels are hit with Western sanctions, shipping sources say, though rates could be capped in the second half. In recent weeks, the cost of shipping oil has risen to about $130,000 a

Oil prices slip slightly adding to recent losses; oversupply concerns remain

December 15, 2025

(Investing)– Oil prices slipped slightly lower Monday, adding to the previous week’s sharp losses as concerns over a global supply glut and weak demand outlook continued to dominate market sentiment. At 06:05 ET (11:05 GMT), Brent Oil Futures expiring in February fell 0.2% to $61.02 per barrel and West Texas Intermediate (WTI) crude futures dropped 0.2% to $57.15 per barrel. Last week

Oil gains on Venezuelan supply concerns, but poised for weekly loss

December 12, 2025

(BOE Report) – Oil prices rose on Friday supported by concerns of Venezuelan supply disruptions, though they remained on track for a weekly drop amid cautious market sentiment and optimism over the prospects for a Russia-Ukraine peace deal. Brent crude futures rose 43 cents, or 0.70%, to $61.71 a barrel by 0352 GMT, and U.S. West Texas Intermediate crude was

OPEC data indicate close oil supply-demand balance in 2026, no glut

December 11, 2025

(Investing) – LONDON – World oil supply will match demand closely in 2026, OPEC data published on Thursday indicated, an outlook contrasting with projections from the International Energy Agency and others of a huge glut. The OPEC+ group comprising the Organization of the Petroleum Exporting Countries, Russia and other allies plans to pause production hikes in the first quarter of 2026,

OPEC+ members to undergo annual oil capacity audit under new plan, sources say

December 2, 2025

(Investing)– OPEC+ members will undergo an annual assessment of their oil production capacity starting next year for use in 2027, OPEC+ sources said, to ensure that the group sets output quotas that are more closely aligned with each country’s real capacity. This follows an agreement reached on Sunday which marks progress in resolving what has been a thorny issue for

Oil prices climb after OPEC+ reaffirms pause; supply risks in focus

December 1, 2025

(Investing) – Oil prices ticked higher on Monday, bolstered by OPEC+’s reaffirmation that it will hold output steady during the first quarter, as well as renewed supply concerns stemming from geopolitical tensions. Get the latest updates and insights on the biggest market-moving stories by upgrading to InvestingPro – get 60% off today. As of 08:20 ET (13:20 GMT), Brent oil futures expiring in March

Global oil refining profits surge and may stay strong

November 18, 2025

(Investing)– Global refining margins have hit multi-year highs in November due to sanctions on Russia, refinery outages and maintenance, according to LSEG data and analysts, and some see little respite without more plants being built in the Western world. The strength in margins contrasts with crude oil markets coming under pressure from an expected oversupply, and has defied expectations earlier

Goldman Sachs: oil prices to drop to $53 in 2026

November 18, 2025

(Oil Price)– Oil prices are set to further drop into next year from current levels amid a large surplus on the market, with the U.S. benchmark WTI Crude expected to average $53 per barrel in 2026, according to Goldman Sachs. Early on Tuesday, WTI Crude was trading just above $60 per barrel, at $60.09, up by 0.22% on the day. The investment

Kazakhstan drags big oil to Swiss court in $166 billion lawsuit

November 17, 2025

(Oil Price) – Kazakhstan has filed for arbitration in a Swiss court in its lawsuit against major international oil firms as the OPEC+ producer seeks billions of U.S. dollars of damages from Big Oil over contract delays, bribery, and cost overruns, sources familiar with the matter told Bloomberg. The country, where international majors including ExxonMobil, Chevron, Shell, Eni, and TotalEnergies, have developed

OPEC sees balanced oil market in 2026, moves further away from deficit projection

November 12, 2025

(BOE Report) – World oil supply is expected to match demand next year in a reflection of the wider OPEC+ group’s production increases, an OPEC report showed on Wednesday, marking a further shift from its earlier projections of a supply deficit in 2026. OPEC+, which groups the Organization of the Petroleum Exporting Countries, Russia and other allies, has raised its

Oil prices fall as oversupply concerns overshadow US government reopening

November 12, 2025

(Investing) – LONDON -Oil prices fell more than 2% on Wednesday, weighed down by oversupply concerns as OPEC said global oil supply will match demand in 2026, marking a further shift from its earlier projections of a supply deficit. Brent crude futures slipped $1.35, or 2%, to $63.81 a barrel by 1417 GMT after gaining 1.7% on Tuesday. U.S. West Texas Intermediate crude was

Premium Content