Tag: OIL PRODUCTION

OPEC August oil output rises, but outages limit gain

The Organization of the Petroleum Exporting Countries has pumped 26.93 million barrels per day (bpd), the survey found, up 210,000 bpd from July’s estimate

OPEC+ could reconsider output increase

The rise in oil output agreed final month by OPEC+ nations might be reconsidered at its subsequent assembly on Sept. 1, Kuwait’s oil minister stated

CNPC plans new shale oil field near northeast China’s Daqing

China National Petroleum Co (CNPC) said that it plans to produce new shale oil from formations within the existing Daqing oil field area that will help replenish production in decrease of that site

Russia’s oil production falls to 10.41 million bpd

Russia’s oil production fell to 10.41 million barrels per day (bpd) during the period from Aug. 1 to 23, from 10.46 million bpd in July

Saudi crude exports rise to five-month high in June

Saudi Arabia’s crude oil exports rose to 5.965 million barrels per day (bpd) in June, their highest in five months, Joint Organisations Data Initiative (JODI) said

US shale oil output to rise to highest since May 2020

US shale oil output is predicted to rise to 8.1 million barrels per day in September, the highest since May 2020, in accordance to the EIA’s month-to-month drilling productiveness report

US urges OPEC+ to pump more

The White House said in a statement that the Biden administration had urged OPEC and its partners to boost production, CNBC earlier reported the development

Oil rises as market shrugs off virus impact

Oil prices rose more than $1, recouping some of the losses in the previous session, as rise of demand in Europe and the United States outweighed concerns over a rise of COVID cases in Asian countries

BP boosts payouts after profit jump, transition on track

BP boosted its dividend and share buybacks after beating expectations with a $2.8 billion second-quarter profit powered by higher oil prices and recovering demand

API shows crude stocks down, gasoline inventories fall

U.S. crude oil and distillate inventories fell last week, according to two market sources, citing American Petroleum Institute figures, while gasoline stocks rose