OilPrice

MAY 15, 2025

Significantly lower oil prices in April sent Russias oil export revenues down to the lowest level in nearly two years as the price of Russian grades fell alongside the benchmark international prices, which lost about $10 per barrel last month. Russias revenues from oil exports slumped to $13.2

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Oil Barrel Energy Energy 304

Oil & Gas 360º

MAY 28, 2025

(Oil Price) –This week, a private arbitration panel in London began hearing the arguments of U.S. supermajors ExxonMobil and Chevron regarding their rights to one of the worlds most lucrative oil projects. million barrels per day, with gross production growing to 1.3 million barrels per day by 2030, Exxon says.

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OilPrice

MAY 14, 2025

Crude oil inventories in the United States saw an increase of 4 million barrels during the week ending May 9, according to new data from the U.S. Crude oil prices were trading down prior to the crude data release by the U.S. crude oil inventories with draws in gasoline and distillate stocks. At 10:21am in New York, the

American Petroleum Institute 301

American Petroleum Institute Crude Oil Oil API 301

OilPrice

MAY 20, 2025

The biggest international oil firms used the first-quarter earnings calls to reassure investors that Big Oil is in a business as usual mode at oil prices at $60 per barrel. The market rout began on April 2, just after the first quarter ended, so the worlds top international

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Oil Barrel IT 333

OilPrice

MAY 6, 2025

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell 4.49 million barrels in the week ending May 2, after analysts had estimated a 2.5-million-barrel million-barrel draw. million barrel inventory hike in the prior week. The API reported a 3.76

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American Petroleum Institute API Crude Oil Oil 270

OilPrice

MAY 20, 2025

shale production will likely plateau if WTI oil prices remain in the low $60s per barrel, and decline at prices in the $50s, ConocoPhillips chairman and CEO Ryan Lance said at the Qatar Economic Forum on Tuesday. Commenting on oil prices shale firms to profitably drill a new well. shale firms to profitably drill a new well.

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Oil Barrel Energy Energy 309

OilPrice

MAY 28, 2025

Russia could consider adjusting the oil price level in its so-called budget rule amid falling oil prices, Finance Minister Anton Siluanov said on Wednesday. Under the budget rule, Russia has a baseline price of $60 per barrel of oil, above which it funnels excess revenue to its National Wealth Fund, a rainy-day reserves fund.

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IT Oil Barrel Finance 288

OilPrice

MAY 21, 2025

billion barrels of shale oil, Turkish Energy and Natural Resources Minister, Alparslan Bayraktar, has said. Turkey's current annual (crude) oil import amounts to 365 million barrels. billion barrel reserve is a great figure, Reuters quoted Bayraktar as saying in southeast Turkey.

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Oil Crude Oil Barrel Basin 274

OilPrice

MAY 20, 2025

The European Union will propose to G7 finance ministers to lower the price cap on Russian crude from the current $60 per barrel to $50, European Economic Commissioner Valdis Dombrovskis said.

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Oil Insurance Barrel Finance 308

OilPrice

MAY 5, 2025

crude oil supply will rise more slowly than expected for the rest of 2025 and in 2026 and peak as early as this year, as WTI benchmark prices below $60 per barrel are testing the breakeven point of shale production, energy flows intelligence firm Kpler said on Monday.

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Crude Oil Oil Barrel Energy 362

OilPrice

MAY 5, 2025

Morgan Stanley joined other major investment banks in slashing oil price forecasts amid expectations of a larger market surplus later this year as OPEC+ plans to raise output much more than previously expected. Morgan Stanley cut its oil price forecasts for the remainder of the year, anticipating a bigger glut.

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Oil Barrel IT 294

OilPrice

MAY 23, 2025

Kazakhstan is likely to top its oil production plan this year, due to the expansion of the Chevron-led Tengiz field, Kazakhstans Energy Minister Erlan Akkenzhenov said on Friday, in yet another snub at OPEC+ quotas. million tons of crude oil and condensate in 2025, or about 2 million barrels per day (bpd), which would be 9.7%

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Condensate IT Oil Crude Oil 352

OilPrice

MAY 12, 2025

Saudi Arabia is again making news in the oil markets. In a move reminiscent of the disastrous price war of 2015-2016 (see OPECs Trillion Dollar Miscalculation), the kingdom has decided to boost oil production in a market that is already adequately supplied.

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Oil Barrel 357

OilPrice

MAY 1, 2025

Russia expects 24% lower revenues from oil and gas this year compared to earlier estimates, following the oil price crash that began in early April and sank the price of its flagship Urals crude close to the $50 per barrel mark. Russia now sees its oil and gas revenues at about $101.7 billion (8.32 billion (8.32

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Oil Finance Barrel Energy 336

OilPrice

MAY 3, 2025

Crude oil markets took a fresh hit this weekend after OPEC+ stunned traders by announcing a larger-than-expected output increase for June. In a virtual meeting on Saturday, key producers led by Saudi Arabia and Russia agreed to raise collective output by 411,000 barrels per day (bpd), nearly triple the volume originally scheduled.

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Crude Oil Barrel Oil 357

OilPrice

MAY 11, 2025

Saudi Arabia is driving a faster-than-planned oil production ramp-up among the eight OPEC+ members that were keeping a cap on their output. Saudi Arabia is also raising its oil prices for Asian buyers amid falling benchmarks. One often-cited figure when it comes to oil prices and Saudi Arabias budget is $90 per barrel.

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Barrel Oil IT 344

OilPrice

MAY 1, 2025

Venezuela saw its oil exports slump by nearly 20% in April from March to the lowest level in nine months, after state-owned oil firm PDVSA canceled cargoes for Chevron, Reuters reported on Thursday, citing shipping documents and tanker-tracking data.

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Oil Crude Oil Barrel IT 341

OilPrice

MAY 1, 2025

The International Monetary Fund (IMF) has downgraded its economic growth forecast for the oil exporters in the Middle East to 2.3% from 4% expected in October, due to the slide in oil prices. The IMF expects oil prices to decline in 2025 to $66.90 per barrel, nearly $6 below the

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Oil Barrel IT 329

OilPrice

MAY 14, 2025

All the countries in the OPEC+ pact saw their combined crude oil production drop by 106,000 barrels per day (bpd) in April compared to March, despite the pledge of the eight OPEC+ producers who are withholding supply to begin easing their cuts.

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Crude Oil Barrel Oil 345

OilPrice

MAY 12, 2025

Kazakhstan's oil exports via the Caspian Pipeline Consortium (CPC) are poised for a significant decline in May, with daily shipments of CPC Blend crude from Russia's Black Sea port of Novorossiysk expected to drop to approximately 1.5 million barrels per day (bpd), down from 1.6 million barrels per day (bpd), down from 1.6

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Mechanic Pipeline Barrel Oil 337

OilPrice

MAY 28, 2025

The value of Russian crude oil exports have sunk in May to the lowest level in over two years, data on shipments and Russian crude prices compiled by Bloomberg showed on Wednesday. million barrels per day (bpd) of crude oil, In the four weeks to May 25, Russia exported on average 3.39

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Crude Oil Oil Barrel 328

OilPrice

MAY 15, 2025

India is fast cementing its status as the worlds top engine of oil demand growthovertaking China earlier than expected and showing no signs of slowing down. According to OPECs latest Monthly Oil Market Report, Indias oil demand is projected to grow by 3.4% million barrels per day (bpd), and then rise another 4.3%

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Oil Engineering Engineer Barrel 318

OilPrice

MAY 5, 2025

Big Oil majors have no plans to scale back their budgets despite oil prices softening and more barrels poised to hit the market. That may sound reckless in a bearish environment, but its anything but.

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Oil Barrel IT 333

OilPrice

MAY 7, 2025

Crude oil inventories in the United States saw a decrease of 2 million barrels during the week ending May 2, according to new data from the U.S. Crude oil prices were trading down prior to the crude data release by the U.S. million barrels in U.S. crude oil inventories with draws in gasoline and distillate stocks.

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Crude Oil American Petroleum Institute Oil API 271

OilPrice

MAY 26, 2025

Back in 2017, oil production in the Permian stood at 2.2 million barrels daily. Today, the Permian is producing over 6 million barrels daily, accounting for nearly half of the U.S. Predictions of a looming peak have lately multiplied, but according to Wood Mackenzie, the Permian is not done yetnot if prices improve.

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Barrel Oil 278

OilPrice

MAY 30, 2025

This weekend, OPEC+ may debate boosting oil production in July by more than the 411,000-bpd monthly hikes it has announced for May and June, sources with knowledge of the discussions at the production group told Reuters on Friday. The new OPEC+ strategy largely

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Oil Barrel IT 319

OilPrice

MAY 8, 2025

Nigerias government has set a new, significantly higher, production target for the national oil company, aiming for 2.5 million barrels daily by the end of this year. When the new NNPC management visited me, I increased their oil production target to 2.5

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Oil Barrel Petroleum Government 270

OilPrice

MAY 6, 2025

Wall Street banks are racing this week to slash their oil price forecasts for 2025 and 2026 after OPEC+ threw another curveball at the market this weekend by vowing to continue raising production by more than initially planned. Commodity strategists and analysts from major U.S.

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Oil Barrel 322

OilPrice

MAY 9, 2025

Mexicos Pemex plans to reopen mature oil wells in a bid to increase production, which has been in a steady decline for years. Securities and Exchange Commission saying it expected this years average daily oil output to 1.58 million barrels daily. million barrels daily. million barrels daily.

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Oil Barrel Government Energy 278

OilPrice

MAY 21, 2025

Crude oil prices, which had been on the rise earlier this week, retreated partially following a report of an inventory build in the United States that traders apparently did not expect as well as uncertainty surrounding geopolitical developments in the Middle East. per barrel and West Texas Intermediate was changing hands for $61.50

Oil 289

Oil Crude Oil Barrel Energy 289

BOE Report

MAY 20, 2025

oil producer Continental Resources estimates there is a shale oil reserve of 6.1 billion barrels in Turkey’s southeastern Diyarbakir Basin, the Turkish energy minister said. Continental Resources and Turkish national oil company TPAO signed a joint venture agreement in March to develop shale fields in the basin.

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Barrel Oil Basin Crude Oil 111

OilPrice

MAY 5, 2025

In a sign that the worlds top crude oil exporter expects solid demand in Asia next month, the Kingdom lifted the price of the Arab Light crude grade for June by $0.20 per barrel over May prices to a premium of $1.40 a barrel over the Oman/Dubai average, the benchmark off which Middle Eastern producers price

Oil 295

Oil Crude Oil Barrel IT 295

OilPrice

MAY 5, 2025

Goldman Sachs has slashed its oil price forecast for a third time in one month after OPEC+ decided this weekend to hike production in June with a similar 410,000-bpd increase it is implementing in May. The move follows a similar surge announced for May and signals a sharp reversal from OPEC+ efforts to defend oil prices.

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IT Oil Barrel 310

OilPrice

MAY 29, 2025

Saudi Arabia will review its spending priorities after the oil price decline, and will consider whether to delay or accelerate some projects, the Kingdoms Finance Minister, Mohammed Al-Jadaan, told the Financial Times in an interview published on Thursday. Saudi Arabia needs oil prices at about $90 per barrel to balance its budget.

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Oil Crude Oil Barrel Finance 241

OilPrice

MAY 28, 2025

The American Petroleum Institute (API) estimated that crude oil inventories in the United States fell this week, by 4.236 million barrels in the week ending May 23 after analysts had estimated a 1-million-barrel build. The API reported a 2.499 million barrel inventory increase in the prior week.

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American Petroleum Institute API Crude Oil Oil 223

OilPrice

MAY 10, 2025

An assessment by the US Geological Survey reveals potential undiscovered oil and gas in two formations under much of the US Gulf Coast from Texas to Florida. trillion cubic feet of gas and 28 million barrels of oil. The survey detailed that here are technically recoverable resources of 35.8

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Gas Barrel Oil Energy 302

OilPrice

MAY 28, 2025

For most of the past century, energy producers could count on steady oil demand growth. From industrial development in China to population booms in emerging markets, the global appetite for oil kept expanding like clockwork. million barrels per day (bpd) for nearly 60 years.

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Oil Barrel Energy Energy 282