This site uses cookies to improve your experience. To help us insure we adhere to various privacy regulations, please select your country/region of residence. If you do not select a country, we will assume you are from the United States. Select your Cookie Settings or view our Privacy Policy and Terms of Use.
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Used for the proper function of the website
Used for monitoring website traffic and interactions
Cookie Settings
Cookies and similar technologies are used on this website for proper function of the website, for tracking performance analytics and for marketing purposes. We and some of our third-party providers may use cookie data for various purposes. Please review the cookie settings below and choose your preference.
Strictly Necessary: Used for the proper function of the website
Performance/Analytics: Used for monitoring website traffic and interactions
Crudeoil prices could decline below $50 a barrel this year, according to analysts from outlets including S&P Global. This will give American drivers much needed relief at the pump after years of gas price inflation. One reason for the hypothetical decline is what is widely seen as weakening demand growth.
crudeoil production from onshore federal lands hit a record 1.7 million barrels per day (bpd) in 2024, according to the EIA and the Department of the Interior. That’s a sixfold jump since 2008—far outpacing the broader rise in national crude output, which nearly tripled to 13.2 The driver?
(Oil Price) – U.S. crudeoil production from onshore federal lands hit a record 1.7 million barrels per day (bpd ) in 2024, according to the EIA and the Department of the Interior. That’s a sixfold jump since 2008—far outpacing the broader rise in national crude output, which nearly tripled to 13.2
(BOE Report) – Giant shovels, driverless trucks and a dog-like robot have all helped Canada’s oil sands companies including Imperial Oil and Suncor become some of North America’s lowest-cost oil producers, driving down overheads even as the worst inflation in a generation pushed U.S. shale costs up.
Of the top ten companies listed by unique job postings last month, five companies were in the services sector, two midstream companies, one in the gasoline stations with convenience stores category, one petroleum refinery company and one oil and gas operator. million barrels per day in the second quarter of 2025.
Exxon Mobil and Chevron’s bumper oil and gas output in the second quarter served as a sobering reminder to their European rivals of the ferocious challenge the latter face in their attempts to close the production gap that has expanded in recent years. Exxon pumped 4.63 Exxon’s price-to-cash flow ratio, a key valuation metric, of 8.2
Chevron wins Exxon case but loses time, oil and billions Summary : On July 18, Chevron won its arbitration case against Exxon Mobil, allowing its $55 billion acquisition of Hess and its 30% stake in Guyana’s 11-billion-barrel Stabroek block to finally close. now leading the world in LNG exports with over 11 Bcf/d in 2024.
In a market increasingly governed by geopolitical tremors and macroeconomic mismatches, crudeoil dipping below $65 per barrel seems like a gift to global consumers. Even after a brilliant spike on Monday, Brent is still languishing around $65 per barrel, with WTI trailing slightly lower.
Energy Information Administration, year-to-date daily average oil production is 13.2 million barrels per day. oil output remains a key driver of the global energy market. crudeoil production will almost. higher than last year’s record production of 12.5 million BPD. This ongoing growth in U.S.
A combination of rising energy prices, stable production, and economic expansion has positioned the region as a key driver of the U.S. oil and gas sector. Below, we analyze the latest data on oil and gas prices, production, labor market trends, and the housing sector. per barrel , marking a 5.2% per barrel , marking a 5.2%
West Texas NGL Pipeline Expansion The West Texas NGL pipeline is being expanded to 740,000 barrels per day (bpd) to accommodate increasing NGL production. CrudeOil Infrastructure & Market Integration ONEOKs crudeoil transportation and gathering capabilities in the Permian have been significantly strengthened by recent acquisitions.
Permian Basin: Unprecedented Growth Driving Midstream Expansion The Permian Basin continues to be the dominant driver of U.S. oil and gas production , with Energy Transfer reporting a 9% increase in legacy Permian throughput in 2024. Expansion of crudeoil gathering systems and joint ventures to support increased production.
The EPIC acquisition will allow them to shift these barrels onto their own network , capturing better margins and improving logistics efficiency. Permian Market Outlook: Strong Crude & NGL Demand Phillips 66 is well-positioned to take advantage of increasing Permian production and global energy demand.
Oil and Gas Basins: Growth, Challenges, and 2025 Outlook Permian Basin (Texas & New Mexico) The Undisputed Leader 2023-2024 Overview The Permian Basin has remained the most important oil-producing region in the United States, supplying nearly 46% of the nations crudeoil output in 2024. crudeoil investments.
Brent oil futures for June fell 1.1% a barrel, while West Texas Intermediate crude futures dipped by 1.2% a barrel by 07:43 EST (11:43 GMT). Crude has gotten off to a relatively weak start to 2025, as heightened global economic uncertainty darkened the outlook for prices.A key driver of this trend has been U.S.
The United States already became the worlds top oil and gas producer under former President Joe Biden. Energy Information Administration expects crudeoil production to rise to a new record average of 13.61 million barrels per day (bpd) in 2025 and climb further to 13.76 oil prices are currently around $68 a barrel.
We organize all of the trending information in your field so you don't have to. Join 5,000+ users and stay up to date on the latest articles your peers are reading.
You know about us, now we want to get to know you!
Let's personalize your content
Let's get even more personalized
We recognize your account from another site in our network, please click 'Send Email' below to continue with verifying your account and setting a password.
Let's personalize your content