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Despite lower oil prices, Canada’s oil sands production is expected to reach an annual all-time high of 3.5 Output from Canada’s oil sands will continue to rise beyond this year, according to S&P Global Commodity Insights’ 10-year production outlook.
Now published by the Energy Institute in collaboration with KPMG and Kearney, the 2025 edition—reflecting full-year 2024 data—reveals that global oil production and consumption remained relatively steady, but there are meaningful shifts underway.
“There is no peak oil demand on the horizon,” OPEC Secretary General Haitham Al Ghais wrote in the foreword of OPEC’s latest World Oil Outlook (WOO), which sees global oil demand growing by about 19% from now until 2050 to reach 123 million barrels per day (bpd).
Argentina's Vaca Muerta shale play posted significant first-quarter gains in 2025, building on last year's strong performance, with oil output surging 26% and gas production rising 16% year-on-year, according to Rystad Energy estimates.
OPEC released its 2025 World Oil Outlook 2050 yesterday at the OPEC Seminar 2025. The Outlook covers all energy industry segments, but here we focus solely on oil demand and supply. OPEC Global Oil Demand to Grow by 19.2 Figure 1 is the most critical chart in the Outlook for the oil market. mb/d to 113.3
Oil flows on the Transneft pipeline network, which handles 80% of all the oil Russia produces, fell last year and continue to slide in 2025, too, due to the OPEC+ agreement to withhold supply and technological issues at Russia’s oil-producing sites, the pipeline giant said on Friday.
Oil prices moved higher on Friday morning after the EU agreed to an 18th package of sanctions against Russia, but the effectiveness of the sanctions is yet to be seen. The bullish momentum was further supported by assumed Iraqi drone strikes on Kurdish oil fields, taking out all the major producing assets in less than a…
airstrikes on Iranian territory have sharply raised fears of retaliation that could target key oil infrastructure and shipping lanes. The Strait of Hormuz, a critical oil transit chokepoint, is at the center of concerns over potential supply disruptions. 1m ago 9:18am CST Iran Accuses U.S. 1m ago 9:18am CST Iran Accuses U.S.
India has sharply increased its crude oil imports from the United States and Brazil in the first half of 2025, marking a strategic deepening of ties with non-OPEC suppliers amid heightened global volatility and supply risk recalibrations.
The combined net profits of Russia’s oil and gas companies nearly halved in the first quarter from a year earlier, while petroleum revenues for the budget have been falling with the decline in oil prices in recent months. The net profits of the Russian oil and gas firms slumped to $9.9 The drop in oil prices,…
million barrels per day (bpd) of new refining capacity by 2050 to meet rising global oil demand, OPEC said in its 2025 World Oil Outlook (WOO) with forecasts through the middle of the century. India, Other Asia, the Middle East, and Africa are set to be the primary sources of long-term oil demand growth.
trillion in new oil and gas investments in the period until 2050 in order to secure a sufficient supply. This is what OPEC warned in the 2025 edition of its World Oil Outlook. Yet the International Energy Agency continues to believe oil demand growth is going to peak before 2030, suggesting there is no such need for investments.
Wary of the ‘Hockey Stick’, Oil Traders Hedge Their 2025 Exposure - Open interest in WTI calendar spread options - contracts that see market participants bid on the future value of crude oil futures across different delivery months – has reached an all-time high as traders expect this year’s assumed oversupply to only materialize in 2026. -
Oil prices have inched up, but the EIA says don’t get used to it. The July Short-Term Energy Outlook (STEO) raised its 2025 Brent forecast by $3 to $69/bbl, citing a spike in geopolitical risk from the mid-June Iran nuclear conflict. But that bump is expected to be short-lived.
and worldwide oil and gas output jumped to record highs. per share, for the second quarter of 2025, compared to adjusted earnings of $4.7 The decline was the result of lower realizations due to lower crude oil prices, lower income from upstream and downstream equity affiliates,… billion, or $1.77 billion, or $2.55
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Oil and gas activity in the U.S. Eleventh District slipped into contraction in the second quarter of 2025, according to the Dallas Fed Energy Survey released Wednesday, with firms citing falling production, deteriorating service margins, and deepening uncertainty. The survey’s headline business activity index dropped from 3.8
Poland’s refiner Orlen is ending ties with Russian oil as a long-term contract with Rosneft expires on June 30, in a move to boost energy security in the entire central European region, the Polish company said on Monday. The contract with Rosneft, which ended on June 30, 2025, was the final agreement linking Orlen to Russian crude.
EVOLVE 2025 brought together leading voices across energy trading, analytics and clean fuels to unpack today’s most pressing market dynamics. Bottom Line: Normal Isn’t Coming Back EVOLVE 2025 confirmed what many already suspected; this market isn’t reverting to familiar patterns anytime soon.
(Oil Price) – Energy investments this year are set to hit $3.3 What’s more, the IEA believes that spending on non-hydrocarbon energy, including, besides wind and solar, also nuclear, grid upgrades, energy storage, new fuels, and efficiency, will be twice the amount spent on oil and gas this year.
The newly released 2025 Statistical Review of World Energy highlights just how indispensable natural gas has become, despite mounting pressure to decarbonize. Following the previous article on global oil production and consumption trends, let’s…
The oil futures slide began even before Iran's muted response to the US bombing of its nuclear sites had ended on Monday. That's because oil market fundamentals took hold the moment de-risking started, evaporating the so-called risk premium double quick. Prior to this week's declines, oil futures had risen 20% month-over-month.
REGIONS: US proposes rules that could boost oil, gas output in US West; Elon Musk confirms buying overseas power plant, shipping it to Memphis for xAI; LNG boom hits a snag in Louisiana’s crowded waterways; NATIONAL: Dallas Fed energy survey shows oil, gas activity contraction; Imports made up 17% of U.S. energy supply.
Global oil supply growth is expected to materially exceed demand growth this year despite the tight market balance in the peak summer consumption season, the International Energy Agency (IEA) said in its monthly report on Friday. At the same time, global oil demand… million bpd growth. million bpd growth.
Weekly Crude Oil Storage as of July 18, 2025 U.S. commercial crude oil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.2 Summary of weekly petroleum data for the week ending July 18, 2025 U.S. crude oil refinery inputs averaged 16.9 million barrels from the previous week.
crude oil production hit a new monthly record in May 2025, averaging 13.488 million barrels per day (bpd), according to new EIA data released Thursday. That’s a modest 0.2% rise from April’s 13.464 million bpd, but a respectable 2.2% increase year-over-year.
How AI and technology are reshaping the oil and gas. REGIONS: New York has got to face reality – we need natural gas; NATIONAL: TC Energy is bolstering America’s energy dominance through critical investments; Geothermal energy may be poised for growth thanks to shale drilling advances; Why is every natural disaster being politicized?;
crude oil production is now forecast to slip from a record 13.5 million barrels per day (bpd) in Q2 2025 to around 13.3 Peak shale may already be behind us. million bpd by the end of 2026, according to the U.S.
This latest investment push comes just days before Aramco is set to release its Q2 2025 results, which analysts expect will reflect a double-digit profit decline amid sustained oil price weakness.
June 6th, 2025 ICE Brent futures are set to close this week above $66 per barrel, a more than 3% weekly gain after markets were buoyed by the prospect of US-China trade talks all the while derailed US-Iran and Russia-Ukraine negotiations have kept geopolitical risk premia intact.
Texas Oil and Gas Association reported Monday record amounts of natural gas production in the state this year. Crude oil production remained steady at 5.7 Europe received 61 percent of Texas LNG exports and 40 percent of crude oil exports. In the first 5 months of 2025, Texas produced 42.2 billion cfd. million b/d.
REGIONS: Democrat-led northeast now has highest electricity prices in nation; NATIONAL: Kelcy Warren’s dual impact of building energy infrastructure while championing philanthropy; What the media still won’t tell you about the energy transition; Natgas prices sink on the outlook for cooler us temps and higher gas production; INTERNATIONAL: Oil slides (..)
(Oil Price) – Lower oil and gas prices are expected to dent the second-quarter earnings at BP, despite higher output and stronger refining margins. Brent oil prices averaged $67.88 a barrel in the first quarter 2025, the company said. per barrel in the second quarter compared to $75.73
(Oil Price) – Saudi Arabia’s revenues from oil exports crashed in April by 21% from a year earlier – to the lowest level in nearly four years – as international oil prices dipped amid concerns about oversupply and potentially weaker global economic growth. in April 2025 compared to April 2024, as a result of a 21.2%
Publisher’s Note: Anschutz Exploration will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown , August 17-20, 2025. Conventional oil wells drill straight down into the earth, like a straw going into the ground. one of Wyoming’s top oil producers, is pushing that envelope.
That enables more efficient transport of crude oil, LNG and other commodities, including ship traffic by very large crude carriers. million tons of crude oil through the channel. In first half of 2025, crude oil shipments were 65.2 million tons in first half of 2025 – up 10.8 The post Oil exports from Corpus up 3.8
The first quarter of 2025 has seen a remarkable surge in oil and gas mergers and acquisitions (M&A) within the upstream oil and gas sector, with transactions totaling $17 billion. Conclusion The M&A landscape in 2025 presents both challenges and opportunities for small to medium-sized upstream operators.
Brent Crude $68.75 -0.77% Natural Gas $3.32 -6.98% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS USA EIA Reveals Latest USA Crude Oil Production Forecast by Andreas Exarheas | Rigzone Staff | Monday, July 21, 2025 | 8:27 AM EST The U.S. crude oil production forecast in its July short term energy outlook.
Anadolu | Anadolu | Getty Images Eight oil-producing nations of the OPEC+ alliance agreed on Saturday to increase their collective crude production by 548,000 barrels per day, as they continue to unwind a set of voluntary supply cuts. At the end of the Friday session, oil futures settled at $68.30 One, totaling 1.66
(BOE Report) – LONDON, July 18 – The high-stakes clash between Exxon Mobil and Chevron over a prized South American oilfield may be a sign of what’s to come in the oil and gas industry as competition for a shrinking pool of prime assets heats up. million bpd in the first quarter of 2025. million bpd by the end of 2027.
Skip to content Oil & Gas Exploration & Production (E&P) Crude Oil Natural Gas LNG Coal Refined Products Offshore Midstream Regulatory Transportation Commodities Oilfield Services Hydraulic Fracturing Drilling Water Regions Canada Mexico United States Asia & Australia Europe Africa South America Middle East Russia Finance Mergers, (..)
October 26, 2025 Source: Kpler The Strait of Hormuz is back in the news after Israel attacked Iran and later the US hit three nuclear facilities in Iran. It is a critical chokepoint for global oil and LNG markets.
In May—the latest month with full basin-level data—production in Neuqu é n reached 538,000 b/d of oil and 107 million cu m/day of natural gas. On a national scale, shale oil accounts for 60% of total output, while tight and shale gas combined make up 65% of Argentina ’ s gas production.
(Oil & Gas 360) – June 10, 2025 – When Oil & Gas 360 ® first sat down with Troy Eckard, Founder and Chairman of Eckard Enterprises , for a candid Executive Interview , the result was a compelling story chock-full of insights from a successful oil and gas veteran.
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