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Canada’s Oil Sands Production Set for Record High in 2025

OilPrice

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.

Oil
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Global Oil Consumption Reaches All-Time High

OilPrice

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.

Oil
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OPEC Says Global Oil Consumption Will Hit 123 Million bpd by 2050

OilPrice

“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).

Oil
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Oil and Gas Production Surges in Argentina’s Vaca Muerta Shale

OilPrice

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.

Gas
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OPEC: No Peak Oil Demand. Global Oil Demand to Grow by 19.2 mb/d to 123 mb/d by 2050

Energy Outlook Advisors

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
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Russian Oil Flows Keep Falling, Pipeline Giant Transneft Says

OilPrice

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.

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Oil Prices Climb After the EU Imposes New Sanctions on Russia

OilPrice

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…

Oil