Oil production

The International Energy Agency forecasts global oil demand to fall by one million barrels a day in 2026 due to the United States-Iran conflict, which is creating economic uncertainty. Oil production increased in June but remains below pre-war levels, and the conflict could disrupt expectations of a 2027 oil surplus.

A leaked letter reveals Sable Offshore's aggressive power grab to conquer California. The company has restarted oil production using emergency federal approvals from the Trump administration.

Seven OPEC+ members, including Saudi Arabia and Russia, will increase oil production by 188,000 barrels per day. The decision involves expanding monthly output as part of OPEC+ policy.

Seven OPEC+ countries agree to expand monthly oil production modestly as prices slide. The decision aims to address declining oil prices by adjusting output levels.

Los Angeles is attempting to phase out urban oil production, following a previous 2022 ordinance that was invalidated by a judge after legal challenges from the oil and gas industry.

Los Angeles is attempting again to phase out urban oil production after a 2022 ordinance to do so was invalidated by a judge following legal challenges from the oil and gas industry.

Germany’s Schneider advocates for halting oil and gas production in protected areas. The country’s nature-protected areas should be spared new drilling rigs, according to the statement.

Higher prices for gas, groceries, and flights are expected to persist beyond the Iran war. Economists and industry analysts suggest that even if oil production resumes in the Middle East, consumers may not see immediate price reductions at fuel pumps or supermarkets.

Iran's oil production declined by 19% last month according to OPEC data. The article references an oil facility on Kharg Island.

China-linked espionage groups have attacked at least a dozen nations in Latin America, gathering information on maritime shipping, oil production, and other geopolitical interests.

The United Arab Emirates is exiting OPEC to independently manage its oil production. This departure weakens Saudi Arabia's position within the cartel and increases uncertainty about OPEC's stability and future cohesion.

Experts suggest Iran may reduce oil production if the US naval blockade of Hormuz continues, as the country's oil storage approaches capacity.

The article examines the prolonged tensions between the United Arab Emirates (UAE) and OPEC, highlighting factors that contributed to their rift over several years. It suggests disagreements over oil production strategies and geopolitical priorities as key drivers of the conflict.

South America could potentially increase oil production by 2.1 million barrels a day if oil prices reach $100. Petrobras' fourth quarter results are expected to benefit from consistent production levels matching third-quarter records.

Kazakh oil production from the Black Sea is projected to reach record levels in May. Maintenance activities at an oilfield near Atyrau, Kazakhstan, highlight ongoing operational efforts in the region.

Saudi Arabia's oil output capacity was reduced by 600,000 barrels per day due to the war, impacting its production facilities in Ras Tanura. The reduction highlights the disruption caused by ongoing conflicts in the region.