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crudeoil production surged to an all-time high of 13.24 over March volumes reinforces America’s standing as the world’s top oil producer and follows months of steady gains driven by improved drilling efficiencies and stronger prices. The increase of 0.4%
Kenya hopes it will begin commercial crudeoil production and exports next year, Opiyo Wandayi, Cabinet Secretary for Energy and Petroleum, said on Monday, as companies are finalizing an asset sale and development project plans for an onshore resource basin.
Crudeoil inventories in the United States decreased by 3.0 The EIA’s data release follows API’s figures that were released a day earlier, which suggested that crudeoil inventories shrank by 4.2 Crude prices were trading… million barrels during the week ending August 1, according to new data from the U.S.
Crudeoil inventories in the United States increased by 7.1 Crude prices were trading down ahead of the report, after the American Petroleum Institute (API) on Tuesday estimated a surprise 7.1-million-barrel million barrels during the week ending July 4, according to new data from the U.S. million-barrel…
Weekly CrudeOil Storage as of July 18, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.2 crudeoil refinery inputs averaged 16.9 Over the past four weeks, crudeoil imports averaged about 6.3 At 419 million barrels, U.S.
crudeoil production are behind us, in large part due to the maturing of the biggest growth engine, the Permian, according to Goldman Sachs. The years of very rapid growth in U.S.
crudeoil 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.
Brent Crude $68.75 -0.77% Natural Gas $3.32 -6.98% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS USA EIA Reveals Latest USA CrudeOil Production Forecast by Andreas Exarheas | Rigzone Staff | Monday, July 21, 2025 | 8:27 AM EST The U.S. crudeoil production forecast in its July short term energy outlook.
Weekly CrudeOil Storage as of July 25, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) increased by 7.7 crudeoil refinery inputs averaged 16.9 crudeoil imports averaged 6.1 Over the past four weeks, crudeoil imports averaged about 6.1
Weekly CrudeOil Storage as of June 20, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 5.8 crudeoil imports averaged 5.9 Over the past four weeks, crudeoil imports averaged about 6 million barrels per day, 17.4% Imports U.S.
Weekly CrudeOil Storage as of June 6, 2025 U.S. commercial crudeoil inventories ( excluding those in the Strategic Petroleum Reserve ) decreased by 3.6 crudeoil refinery inputs averaged 17.2 crudeoil imports averaged 6.2 Over the past four weeks, crudeoil imports averaged about 6.2
Crudeoil prices were set to end the week lower than they started it as Israel and Iran stopped bombing each other, alleviating fears of a supply disruption in the Middle East. At the time of writing, Brent crude was trading at $68 per barrel, with West Texas Intermediate at $65.55 per barrel.
Oil production from Canada’s oil heartland, Alberta, slumped to a two-year low in May as wildfires in the province and maintenance on some oil sands operations dragged oil output to a two-year low. million barrels per day (bpd) of crudeoil in May, according to provincial data cited by Bloomberg.
Venezuela hasn’t waited long to replace Western service providers in its oil industry after the U.S. sanctions, Western oil producers were given time until May to wrap up their operations in Venezuela, home to the world’s biggest crudeoil reserves. Under the U.S.
The Kingdom, the world’s top crudeoil exporter, wants to develop all forms of energy, diversify its economy from oil, and replace oil in power generation with renewables and natural gas. The Saudis are not abandoning their primary role in global oil production and supply.
Crudeoil prices could rise by between 15% and 20% from pre-war levels in case of disruption of 1.1 million barrels daily in production, Citi analysts have said, putting Brent crude’s wartime price at between $75 and $78 per barrel.
Russia is preparing to sharply increase crudeoil exports this month after Ukrainian drone strikes disabled two major refineries, leaving excess unprocessed crude with no domestic outlet and prompting a shift toward western port shipments.
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.
Brent Crude $69.46 -0.09% Natural Gas $3.52 -0.56% Latest Oil Prices SUBSCRIBE SEARCH ARTICLES NEWS USA CrudeOil Stocks Drop Week on Week by Andreas Exarheas | Rigzone Staff | Thursday, July 17, 2025 | 10:48 AM EST Crudeoil stocks, not including the SPR, stood at 422.2 Crudeoil in the SPR stood at 402.7
Crudeoil prices began trade this week with a modest gain after on Friday the European Union approved the 18th package of sanctions against Russia, targeting once again its energy industry with a lower price cap and specific sanctions against energy companies. Brent crude was trading at $69.35 per barrel.
Global crudeoil production declined by 1% last year, for the first time since 2020, averaging 72.58 The group reported a decline in OPEC and partner production while non-OPEC oil producers boosted output last year, in line with analyst predictions and relatively healthy oil prices.
crudeoil production is now forecast to slip from a record 13.5 Peak shale may already be behind us. million barrels per day (bpd) in Q2 2025 to around 13.3 million bpd by the end of 2026, according to the U.S.
The American Petroleum Institute (API) estimated that crudeoil inventories in the United States fell this week, noting that inventories declined by 577,000 barrels in the week ending July 18. So far this year, crudeoil inventories are up 11 million barrels, according to Oilprice calculations of API data.
Iraq’s crudeoil exports to the United States surged past 5 million barrels in May, marking Baghdad’s highest monthly volume to U.S. appetite for heavier Middle Eastern grades, with Iraqi crude averaging between 160,000 and 190,000 barrels per day last month. refiners so far this year, according to Iraqi News.
The international benchmark, Brent Crude, was trading higher by 1.19%, and returned above the $70 a barrel mark, at $70.39. The European Union lowered the price cap on Russian crudeoil to $47.60 from $60 per…
Lower demand for crudeoil from refiners at home gave a boost to U.S. Energy Information Administration, which said this week that the United States exported more crudeoil to Nigeria in February and March than it imported from it. The news comes from the U.S.
Russia’s export revenue from crudeoil and petroleum products slumped by 14% in June compared to the same month last year, the International Energy Agency (IEA) said in its monthly report published on Friday. The report also showed that Russian crudeoil production remained broadly flat at almost 9.2 Russia’s…
crudeoil production from onshore federal lands hit a record 1.7 That’s a sixfold jump since 2008—far outpacing the broader rise in national crude output, which nearly tripled to 13.2 million barrels per day (bpd) in 2024, according to the EIA and the Department of the Interior. million bpd over the same period. The driver?
Crudeoil prices began trading with a loss this week as traders anticipated another OPEC+ supply boost next month at a rate of 411,000 barrels per day, taking the cumulative increase this year to 1.78 At the time of writing, Brent crude was trading at $67.63 million barrels daily, according to preliminary reports.
Preliminary assessments suggest the well contains an estimated 22 million tonnes of recoverable crudeoil and condensate, along with 5 billion… The discovery was made at the Wolin East 1 (WE1) well, located roughly 6 kilometers from the port city of Swinoujscie in northwestern Poland.
While Alberta’s historical energy legacy has been defined by coal and crudeoil, the Canadian province has embraced renewables and carbon capture over the past two decades, and is now exploring small modular The post Alberta’s Deregulated Grid Is Bracing for 11 GW of New Demand appeared first on POWER Magazine.
Crudeoil markets have turned out to be tighter than most analysts appeared to expect, and are ready to absorb OPEC+’s higher-than-forecast supply boost next month. For proof, look no further than oil prices after the latest OPEC+ announcement that took traders and analysts by surprise.
CNOOC Ltd, China’s top offshore crudeoil and natural gas producer, has launched production of heavy crude from its Kenli 10-2 Oilfields Development Project, which is the largest shallow lithological oilfield offshore China, the company has said.
Crudeoil exports from Iraq’s semi-autonomous region of Kurdistan to a Turkish Mediterranean port will resume either on Wednesday or Thursday, the federal Iraqi Oil Minister, Hayan Abdul Ghani, told state news agency INA today.
Crudeoil inventories in the United States fell by 11.5 Crude prices were mixed ahead of the report amid broader macro signals. million barrels during the week ending June 13, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The drop brings commercial stockpiles to 420.9
The potential deal would further cement Aramco’s push into the global LNG market as it accelerates efforts to diversify beyond crudeoil exports. -based Commonwealth LNG terminal in Cameron, Louisiana, according to an exclusive Reuters reported on Wednesday.
The European Union lowered the price cap on Russian crudeoil to $47.60 from $60 per barrel as it adopted on Friday the 18th sanctions package against Russia, targeting a hundred more ‘shadow fleet’ tankers, energy trade, and traders and banks enabling it.
Crudeoil prices stabilized today as traders anticipate yet another 411,000-bpd boost in OPEC+ supply to be announced at the end of this week when the group meets, with downward pressure coming from the latest weekly U.S. inventory report.
India has sharply increased its crudeoil 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.
China has certified 147 million barrels of oil reserves in a new shale play operated by state energy giant Sinopec in the southwestern part of the country, as the world’s top crudeoil importer look to boost domestic output. million metric tons, or 147 million barrels of oil, in the Fuxing shale play, as well as 12.35
Crudeoil inventories in the United States fell by 5.8 Crude prices were trading up ahead of the report. million barrels during the week ending June 20, according to new data from the U.S. Energy Information Administration (EIA) released on Wednesday. The drop brings commercial stockpiles to 415.1
Light crudeoil futures rallied this week, closing Thursday at $63.37 per barrel—up approximately 4.2%—as as the market digested a cocktail of bullish catalysts.
The decline was the result of lower realizations due to lower crudeoil prices, lower income from upstream and downstream equity affiliates,… Chevron reported on Friday adjusted earnings of $3.1 billion, or $1.77 per share, for the second quarter of 2025, compared to adjusted earnings of $4.7 billion, or $2.55
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