article thumbnail

Kazakhstan Reaches Record Oil Production of 2.12 Million bbl/d, Exceeding OPEC+ Quota

Egypt Oil & Gas

Kazakhstan has increased in February its crude oil and gas condensate production by 13% to a record of 2.12 million barrels per day (bbl/d), exceeding its quota within the OPEC+ group of oil producers, as Reuters reported. Excluding gas condensate, Kazakhstan’s crude oil production surged by 15.5%

BBL 75
article thumbnail

Alaska’s crude oil production to grow in 2026, first time since 2017, EIA says

BOE Report

Energy Information Administration on Wednesday forecast that Alaska’s annual crude oil production will increase in 2026, a first since 2017 and, if realized, the largest since 2002.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Goldman Sachs lowers oil price forecast after OPEC+ decision to boost output

Oil & Gas 360º

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.

BBL 130
article thumbnail

Enverus EVOLVE: Creating the future of energy with AI, intelligence and innovation

Enverus

In total, EVOLVE welcomed attendees from more than 350 energy companies, including oil and gas operators, financial institutions, midstream firms, oilfield service providers and renewable energy developers. Collectively, these organizations represent: 60% of North American crude oil production 56% of natural gas production $12.1

Energy 130
article thumbnail

Banks betting on market fundamentals despite trade policy upheaval

Oil & Gas 360º

Oil forecasts show the immediate market impact from the approximately $10 per barrel drop in April 2025, with banks reducing their 2025 price projection to $58.30 Looking ahead to 2035, banks predict oil prices will hover in the $56.24-$57.24/bbl per barrel from $61.89 per barrel in Fall 2024.

article thumbnail

Money Can Buy It - After Permian M&A Spree, E&Ps Throttle Growth While Integrateds Motor On

RBN Energy

publicly traded oil and gas companies. With crude oil prices stagnant in the $70-$80/bbl range, producers were driven to boost Tier 1 acreage and capture operational synergies to fund the generous shareholder returns demanded by their investor base.

E&A 76
article thumbnail

Strathcona announces sale of Montney business for $2.84 billion and acquisition of Hardisty Rail Terminal

Oil & Gas 360º

All boe conversions in this press release are derived by converting gas to oil at the ratio of six thousand cubic feet (mcf) of natural gas to one barrel (bbl) of crude oil. Boe may be misleading, particularly if used in isolation. USD-CAD and C$3 / GJ AECO.

BBL 130