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How Canada’s oil sands transformed into one of North America’s lowest-cost plays

Oil & Gas 360º

tariffs policy and OPEC+ pumping more barrels, Canada’s oil sands industry finds itself in a position of strength. That means oil sands producers have lowered their overall costs by approximately $10 a barrel in about seven years. shale producers had a break-even price of between $50 and $52 per barrel. shale costs up.

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USA EIA Reveals Latest USA Crude Oil Production Forecast

Rigzone

million barrels per day across 2025 and 2026. million barrels per day in 2024. million barrels per day in the third quarter of this year, 13.43 million barrels per day in the fourth quarter, 13.42 million barrels per day in the first quarter of 2026, 13.48 million barrels per day in the second quarter, 13.33

Crude Oil 101
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Nigeria’s GEIL exports first crude from new onshore terminal

Oil & Gas 360º

The terminal itself boasts a storage capacity of 750,000 barrels. Plans are underway to increase storage capacity to three million barrels – dependent on market demands. Improved fiscals introduced through Nigeria’s Petroleum Industry Act in 2021 further enticed investments by both international and regional players.

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Middle East Conflict Jolts Energy Markets

Enverus

Targeted Strikes Rattle Oil Markets Recent attacks on Iranian energy facilities caused a spike in oil prices, with Brent crude rising about $10 per barrel in the past month. Current market conditions suggest oil should be trading in the high $70s to low $80s per barrel based strictly on current OECD crude and product stock levels.

Energy 130
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Equinor Files Development Plan for Fram South in Norwegian North Sea

Rigzone

The project, a subsea tieback to the existing Troll C platform, holds estimated recoverable volumes of 116 million barrels of oil equivalent. The Fram South development consists of Echino South, discovered 2019; Blasto, discovered 2021; and two smaller discoveries. kilograms of carbon dioxide per barrel of oil equivalent.

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Valor | Energy Connection – June 9, 2025

Valor

per barrel. The EIA forecasts Brent crude will average $74 per barrel in 2025, down from $80 in 2024, with average gas prices expected to fall to $3.20 rig count fell for the sixth straight week, dropping by 4 to 559, the lowest since November 2021, according to Baker Hughes. million barrels per day, a 2% increase from 2023.

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US gasoline demand rose last week to highest since December 2021, EIA data shows

BOE Report

million bpd in the week ended June 20, the highest since December 2021, data from the Energy Information Administration showed on Wednesday. Product supplied, EIA’s measure of demand, rose 389,000 barrels per day last week, the biggest week-over-week increase since the end of June, the data showed. Read more]

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