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The bank now expects Brent crude to average $60 per barrel for the rest of 2025 and $56/bbl in 2026 down by $2 from its previous estimate. It has also cut its forecast for West Texas Intermediate (WTI) crude by $3/bbl, now projecting it to average $56/bbl for the remainder of 2025 and $52/bbl in 2026.
Khalda Petroleum, a joint venture (JV) between the Egyptian General Petroleum Corporation (EGPC) and Apache Corporation, is bringing two new wells into production in June 2025, with an initial estimated total of 5,400 barrels of crude oil per day (bbl/d). Khalda completed drilling operations for the Fox Deep-02 appraisal well.
(World Oil) –Banks are staying confident in long-term energy fundamentals despite significant trade policy turbulence, according to the Spring 2025 Haynes Boone Energy Bank Price Deck Survey. per barrel from $61.89 per barrel in Fall 2024. This move prompted banks to raise their 2025 projection to $3.50/MMbtu,
The eight OPEC+ countries reaffirmed to start gradual increase in production starting from 1 April 2025 by adding 411,000 barrels per day (bbl/d), equivalent to three monthly increments, in May 2025. million barrels per day (mmbbl/d).
The International Energy Agency (IEA) announced that global oil demand growth forecast for 2025 has been revised down to 730,000 barrels per day (bbl/d), a decrease of 300,000 bbl/d from the March report. These expectations are mainly impacted by the strong oil consumption in Q1 2025, up by 1.2
While we reduced our Brent forecast range by $5/bbl to $65-80, we expect oil prices to edge up in coming months, and think that market pricing of volatility and of the upside risk from potentially lower sanctioned supply remains too low, Goldman Sachs analysts wrote in a Tuesday note carried by Reuters.
Barclays lowered its Brent oil price forecast by $4 per barrel to $66/bbl for 2025 and by $2 to $60/bbl for 2026, citing the decision by OPEC+ to accelerate oil production hikes.
Goldman Sachs sees upside risk to its Brent and WTI oil price forecast in 2025 and 2026 from recent trade de-escalation, it said in a note on Tuesday. The bank estimates around $3-4 per barrel of upside risk to its Brent and WTI oil price forecast of $60/bbl and $56/bbl respectively for the rest of [Read more]
The agency in its March 2025 Short-Term Energy Outlook report forecasts Alaska’s crude production to rise by “16,000 barrels per day (bbl/d) in 2026 to 438,000 [Read more]
ExxonMobils first-quarter 2025 results reveal a clear narrative: U.S. billion in Q1 2025 , a sharp increase from $1.05 upstream growth, driven by advantaged assets like the Permian Basin, is central to the companys long-term performance. Upstream Results: Permian Power ExxonMobils U.S. upstream earnings jumped to $1.87
(Oil & Gas 360) – Calgary, Alberta (May14, 2025) Strathcona Resources Ltd. The Kakwa Sale is expected to occur early in the third quarter of 2025, subject to receipt of regulatory approvals and the satisfaction of other customary closing conditions. Strathcona has $5.5 Full year capital expenditures are estimated at $1.2
million shares repurchased to date in 2025, bringing total repurchases to 7.9 April 23, 2025) Saturn Oil & Gas Inc. Q1/25 CAPITAL PROGRAM SNAPSHOT During the first quarter of 2025, Saturn executed a safe and efficient capital expenditure program, investing approximately $73 million to drill 33 gross (24.4
(Oil & Gas 360) – Publisher’s Note: Zephyr Energy will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. BCF/1000 feet (‘) of perforated interval) and between 160,000 and 240,000 barrels of condensate, equivalent to a total range of 0.827 to 1.24
In Q1 2025 earnings calls, top influencers like Darren Woods (ExxonMobil), Ryan Lance (ConocoPhillips), and Vicki Hollub (Oxy) revealed how operators are navigating volatility, driving efficiencies, and expanding into new, high-margin markets. Oil & Gas in 2025 appeared first on Oil Gas Leads.
Permian Resources Corporation, a leading pure-play operator in the Delaware Basin, has reported strong first-quarter 2025 financial and operational results and announced a strategic bolt-on acquisition of APA Corporations Northern Delaware Basin assets for $608 million. bbl Natural gas: $1.35/Mcf Realized Pricing: Oil: $70.48/bbl
The worlds largest energy companies have just released their Q1 2025 results, offering a detailed look at how the sector is holding up amid fluctuating commodity prices, ongoing supply chain pressures, and the growing influence of gas and LNG markets. TWh , the same as Q1 2024. TWh , the same as Q1 2024. TWh , the same as Q1 2024.
The oil and gas industry navigates a transformative 2025 period shaped by strategic consolidations, maturing resource plays, and shifting market fundamentals. Forecast: With companies securing three to seven years of viable inventory at $70/ bbl oil, M&A activity is expected to remain a cornerstone of strategy through 2025.
(Oil & Gas 360) Publisher’s Note: Whitecap Resources will be presenting at the 30th Anniversary EnerCom Denver-The Energy Investment Conference at the Westin Denver Downtown on August 17-20, 2025. The transaction is expected to close before May 30, 2025. Detailed 2025 guidance will be provided on close of the transaction.
This came during the General Assembly meeting of Khalda Petroleum Company to discuss and approve the amended investment budget for FY 2024/25, and the new budget for FY 2025/26. These discoveries have contributed to adding a total expected reserve (proven and probable) estimated at approximately 35 million barrels of oil equivalent (mmboe).
oil production resilience depends on two pillars: An inventory of low-cost projects (sub-$40/bbl) Sustained operational activity to avoid decline and cost inflation Insights from the top oil & gas CEOs reinforce this modelbut they also reveal growing concern about capital discipline and production headwinds.
Now, as we step into 2025 , the industry faces critical questions : Which basins will see the most growth? In 2024, Ecopetrol invested $880 million into drilling new wells, with 91 wells planned for completion in 2025. 2025 Forecast Projected Crude Oil Output: 6.6 What are the key companies doing to stay competitive?
Our shift from cash outflow in 2023 to cash generation in 2024 has been important, and in 2025 we expect the cash generated by the Tawke PSC to continue to cover our costs. Tawke production currently realises only around $35/bbl, which is well below relevant reference benchmark oil prices. Production costs (17.6) (18.0) EBITDAX1 1.1
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). That total included: 26,200 bbl /d of crude 22,100 bbl /d of NGLs 140 MMcf /d of gas The Chalk is the backbone of Magnolias portfolio, comprising 93% of its total operated gas volumes and 80% of liquids production last year.
Bcf/d, while oil output from the formation has increased by 26,000 barrels per day ( bbl /d). That total included: 26,200 bbl /d of crude 22,100 bbl /d of NGLs 140 MMcf /d of gas The Chalk is the backbone of Magnolias portfolio, comprising 93% of its total operated gas volumes and 80% of liquids production last year.
In 2025, crude and condensate output is projected to rise by 200,000 barrels per day (b/d), reaching 6.6 million b/d by 2035 assuming a real oil price of US$70 per barrel (WTI). By 2030, this elite group of seven companies will hold nearly all remaining inventory with breakeven prices below US$45/bbl WTI. million b/d.
Gulf Keystone Petroleum (LSE: GKP) provided an operational and corporate update ahead of its AGM on Friday, reaffirming its 2025 production and financial guidance despite regional uncertainties. Jon Harris, Gulf Keystone's Chief Executive Officer, said: " We are looking forward this morning to welcoming GKP shareholders to our 2025 AGM.
We have sustained our positive momentum into 2025, with year to date gross average production of c.46,400 As a result, we are pleased to announce today the declaration of a $25 million interim dividend as we reiterate our 2025 operational and financial guidance. bbl, with prices stabilising in a range of c.$27-$28/bbl
(Investing) – JP Morgan downplayed geopolitical concerns on Thursday and maintained its base case forecast for oil prices to stay in the low-to-mid $60s through 2025 and $60 in 2026, but said certain worst-case scenarios could send prices surging to double those levels. million barrels per day reduction in Iranian oil exports.
(BOE Report) – Following the rise in Brent prices to $76-77 per barrel, Goldman Sachs estimates a geopolitical risk premium of around $10 per barrel, the bank said in a note on Wednesday. million barrels per day (bpd) of crude oil. a barrel on Wednesday, while U.S.
million barrels per day (bpd) this year, lower by 260,000 bpd than the growth expected last month, the International Energy Agency (IEA) said on Tuesday, citing lower-than-forecast production from the United States and Venezuela. mb/d in 2025, the IEA said. (Oil Price) –Global oil supply is set to rise by 1.2
a barrel at 14:05 GMT, while Crude Oil WTI Futures fell 8.4% bbl Brent forecast for 2H25 for now,” Morgan Stanley commodity strategists said. In their 2025 outlook, they predicted that weak oil supply-demand fundamentals could help achieve this goal without any intervention from the administration.
With major manufacturing centers in Asia on the President's tariffs list published on April 2, both Brent and WTI front-month futures subsequently shed over $10 per barrel or 14% from the price they were trading at the day before the announcement. The extreme volatility has brought WTI down below $60 per barrel and Brent shy of $65.
US President Trumps visit to the Middle East has the potential for significantly impacting oil markets, according to energy consultancy Rystad Energy Brent oil is hovering around US$65/bbl, buoyed by progress made on US-China trade negotiations, which have also eroded some demand side pessimism.
We’ve seen Brent and WTI plummet by roughly $10-$15 per barrel, primarily due to fears of a global economic slowdown and the impending recession triggered by President Trumps tariffs. Based on EIR’s models, sustaining prices of $65/bbl Brent in Q2, or $60/bbl WTI, imply a market imbalance of around 2 million barrels per day.
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