News list for " Oil Production"
Opec + is expected to agree another modest increase in its oil output target on Sunday, three people familiar with the matter said, as the producers' alliance slows its efforts to regain market share amid rising concerns about a supply glut. Since April, Opec + has raised its output target by more than 2.70 million barrels a day, or about 2.5 per cent of global supply. But in October and November, the alliance reversed its previous months of sharp output increases as markets predicted the risk o...
The new round of sanctions has ignited the mood of the oil market, causing a sharp rise in international crude oil. However, OPEC + production increases and Russia's production resilience are weighed down by multiple shadows. How will the crude oil market perform?
During the US earnings season, the bank thunderstorm weighed on risk sentiment, the US oil production hit a new high to promote oversupply, and multiple bearish prices weighed on crude oil to further decline.
EIA Short-Term Energy Outlook: U.S. crude oil production is expected to be 13.53 million barrels per day in 2025, compared to previous expectations of 13.44 million barrels per day. U.S. crude oil production is expected to be 13.51 million barrels per day in 2026, compared to previous expectations of 13.30 million barrels per day.
According to sources, OPEC + countries are likely to raise oil production 137,000 barrels per day in November.
According to sources, before the meeting, OPEC + countries had reached an agreement in principle to increase oil production by 137,000 barrels per day in November.
OPEC + is likely to raise oil production by at least 137,000 barrels per day at its October 5 meeting.
Eight OPEC + members agreed to increase oil production by 137,000 barrels per day in October, the OPEC + statement said.
On September 7, OPEC + issued a statement that, in view of the stable global economic outlook and healthy market fundamentals (reflected in low crude oil inventory levels), the eight countries decided to implement a production adjustment of 137,000 barrels per day from the additional voluntary production reduction of 1.65 million barrels per day announced in April 2023. The adjustment will be implemented from October 2025, and the specific distribution is shown in the table below. This 1.65 mill...
U.S. Energy Information Administration (EIA): U.S. crude oil production hit a record high in June.
