EIA estimates U.S. oil production will grow more than expected

U.S. oil production will increase by 320,000 barrels per day (bpd) this year, reaching 13.25 million bpd, a record slightly higher than previously forecast, the U.S. Energy Information Administration (EIA) reported

Repsol explores sale of minority stake in South Texas oil assets

Repsol is open to selling as much as a 49% interest in the assets, which include over 800 producing wells spread across about 80,000 net acres with production of about 50,000 barrels of oil equivalent per day

US oil and gas M&A hits quarterly record after blockbuster 2023

U.S. oil and gas deals hit a record $51 billion in the first quarter, a continuation of last year’s fierce merger pace centered in the top U.S. shale field, data provider Enverus said

US restricts drilling and mining in Alaska wilderness

The Biden administration took steps to limit both oil and gas drilling and mining in Alaska, angering state officials who said the restrictions will cost jobs and make the U.S. reliant on foreign resources

US finalizes higher fees for oil and gas companies on federal lands

President Joe Biden’s administration finalized a range of reforms designed to boost returns and address environmental harms from drilling on public lands, a move that will increase fees for oil and gas companies that operate there

EIA: Non-OPEC+ countries will lead crude oil output growth in 2024

The short-term growth in global oil and liquid fuels production will be primarily driven by the United States, Guyana, Canada, and Brazil, offsetting the voluntary cuts by OPEC+, forecasted the EIA

EIA: U.S. output to increase to 13.21 million bpd in 2024

U.S. crude production will increase to 13.21 million barrels per day (bpd) in 2024, forecasted the Energy Information Administration (EIA), lowering growth expectations for pumping by 120,000 bpd

EIA: US oil output to touch a record high in 2024

U.S. crude production will hit records over the next two years but grow at a slower rate, the U.S. Energy Information Administration (EIA) said, as efficiency gains offset a decline in rig activity

EIA: Crude inventories increased by 2.9 million barrels

The Energy Information Administration (EIA) reported in its update that the average crude input to U.S. refineries was 16.5 million barrels per day

US alters rules limiting Russian oil prices

U.S.-led coalition imposing a price cap on Russian oil announced changes to its enforcement regime, which, according to the Treasury Department, will make it even more difficult for Russian exporters to evade the cap