EIA: US crude output reaches monthly record in August

U.S. field production of crude oil rose to a new monthly record in August at 13.05 million barrels per day, the Energy Information Administration said

Argentina achieves record production driven by Vaca Muerta

Argentina achieved a record oil production in September, thanks to the boost from the massive unconventional hydrocarbon formation of Vaca Muerta in the southwest of the country, according to official sources

Kremlin: no plans to raise crude oil supply to offset fuel export ban

Russia has not discussed with the OPEC+ group of leading oil producers a possible crude oil supply increase to compensate for Russia’s fuel exports ban, the Kremlin said

Saudi Arabia’s crude exports drop to two-year low in July

Crude exports from the world’s largest oil exporter fell to 6.01 million barrels per day (bpd) in July, down about 11.6% from the previous month’s 6.8 million bpd and the lowest since June 2021

G7 shelves regular Russian oil cap reviews as prices soar

The G7 and allies have shelved regular reviews of the Russian oil price cap scheme, even though most Russian crude is trading above the limit because of a rally in global crude prices

Saudi Arabia, Russia extend voluntary oil cuts to year-end

Saudi Arabia and Russia agreed to extend their voluntary oil production cuts through the end of this year, trimming 1.3 million barrels of crude out of the global market and boosting energy prices

OPEC oil output rises in August as Iran hits 2018 high

The Organization of the Petroleum Exporting Countries has pumped 27.56 million barrels per day (bpd) this month, up 220,000 bpd from July

Washington drafts proposal for Venezuela’s oil sanction easing

Easing sanctions has been a carrot held out in the past by the U.S., but which so far has resulted in very few authorizations, including one to Chevron Corp that has allowed the firm to expand operations in Venezuela and export its oil to the United States since November

Russia remains China’s top crude supplier in July

Russia remained China’s largest crude supplier in July, Chinese government data showed, even as Russian shipments fall from all-time highs on narrower discounts and rising domestic demand crimps Russian exports

Saudi Arabia oil exports hit 21-month low in June

Saudi Arabia’s crude oil exports dropped in June to the lowest level in 21 months, the latest data by the Joint Organizations Data Initiative (JODI) showed