oil production

OPEC+ keeps its current oil output policy unchanged, hinting at a possible pause or reversal of planned production hikes in October to stabilize the market.

Oil prices rebound after initial fears of Hurricane Beryl disrupting oil production in the Gulf of Mexico subsided. Updated forecasts show the storm will spare key oil fields. However, analysts …

Nigeria is focusing on eight idle oil fields to boost its struggling petrodollar economy, potentially adding over 300,000 barrels per day to national production and attracting significant investment.

OPEC, the world’s leading oil producer group, contradicts the IEA’s forecast of imminent peak oil demand. OPEC maintains a bullish outlook, expecting oil consumption to rise for decades to come.

Saudi Arabia’s Aramco share offering has gotten off to a flying start, with investor demand surpassing the initial amount of shares on offer within a very short timeframe. This overwhelming …

Russia admitted to exceeding its oil production quota for April, attributing it to technical challenges. This surprise move casts doubt on Russia’s commitment to coordinated production cuts with OPEC+, a …

Venezuela’s oil industry is on the rise after Chevron restarted drilling operations. This follows the US easing sanctions on Venezuelan oil in October 2023. The new drilling program is expected …

Protests originating in the Fezzan region of southern Libya have led to the complete shutdown of production at the Sharara oilfield, according to two engineers who spoke with Reuters on …

Nigeria, Africa’s largest oil producer and exporter, has announced an ambitious plan to increase its oil and condensate output to 2.6 million barrels per day (bpd) by 2026, up from …

The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, are set to meet this weekend to discuss the possibility of further reducing oil production amid a …