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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% from January to 1.83

BBL 75
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Bearish oil thesis yet to play out

Enverus

EIR’s report focuses on the outlook for oil and gas prices driven by supply and demand fundamentals, as well as the impact from OPEC actions, global oil demand, U.S. natural gas price outlook and the Iran-Israel conflict. At this pace, gas storage in place would easily exceed 4.0 Our bearish patience is wearing thin.

Oil 130
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ConocoPhillips’ New Zia Hills Facility Cuts Costs, Footprint & Emissions

Oil Gas Leads

Excited to share a major milestone from one of the Permian Basin’s top operators— ConocoPhillips has brought its Zia Hills Central Facility 2 (CF2) online in the Delaware Basin.

BBL 52
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Khalda Petroleum to Bring 2 New Wells Online This June

Egypt Oil & Gas

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.

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Geopolitical tensions and oil prices rise due to the Iran-Israel conflict

Enverus

EIR maintains that softer balances will come 2H25 and that Brent prices will average $65/bbl for the rest of the year.” EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries.

Oil 130
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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
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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