Oil Production
37 stories related to this topic, newest first.
gamereactor.euCNOOC Begins Full Production at Kenli 10-2 Oilfield in Bohai Sea
CNOOC announced Wednesday that phase one of the Kenli 10-2 oilfield cluster in the south Bohai Sea has reached full production. The field now produces more than 20,500 barrels per day of crude oil.
hrw.orgLibya Sets First Unified Budget in Thirteen Years
Libya's rival eastern and western authorities agreed on April 11 to a unified national budget for the first time since 2013. The Central Bank of Libya and international partners tied the agreement to dinar stability and transparent spending.
forbes.comU.S. Shale Producers Raise Output as Middle East Supply Falls
U.S. shale oil producers are raising output and exports in response to higher oil prices driven by the U.S.-Iran war. Drilling activity has increased modestly but remains below year-ago levels. Physical limits and prior capital discipline continue to constrain faster growth.
SemaforU.S. Oil Producers Increase Spending as Iran War Disrupts Supply
U.S. oil companies are raising capital spending and production targets after the war in Iran reduced global supply. Smaller producers are adding rigs while larger firms maintain prior plans.
rigzone.comBrazil Oil Output Reaches Record 4.24 Million Barrels Per Day in March
Brazil produced 4.24 million barrels of oil per day in March 2026. The increase stems from offshore projects in the Santos Basin. The country is expanding production through investments by Petrobras, Shell, and Equinor.
Substrate placeholder — needs reviewIraq in Talks With OPEC to Raise Oil Output to 5 Million Barrels Per Day
Iraq's oil minister said the country is engaged in discussions with OPEC about increasing its production to 5 million barrels per day. The move follows similar production increases by the United Arab Emirates. OPEC members have been gradually raising output after earlier cuts.
EuronewsHeavy Clashes Erupt in Zawiya Near Oil Refinery as Security Forces Launch Large Operation
Security forces in western Libya announced a major operation based on prosecutor's warrants after fierce armed clashes broke out before dawn Friday around the Zawiya oil complex. The fighting prompted the shutdown of the refinery, evacuation of workers and an appeal for residents…
etftrends.comOPEC Crude Production Falls to 36-Year Low in April Amid Conflict
OPEC's crude oil output reached a new 36-year low last month. The drop resulted from the Iran war disrupting exports from the Persian Gulf and prompting additional shut-ins. A Bloomberg survey recorded the decline.
tass.comSatellite Images Show Iran Loading Three Tankers at Kharg Island
Satellite imagery from May 6 captured three tankers being loaded simultaneously at Iran's Kharg Island terminal. The images come from the European Union's Copernicus Sentinel-2 program. The activity indicates continued oil exports from Iranian wells.
japantimes.co.jpAlberta Separatists Submit Signatures for Independence Referendum
A separatist group in Alberta, Canada's major oil-producing province, has submitted over 301,000 signatures to trigger a referendum on leaving Canada. The petition, driven by frustrations over federal oil policies, exceeds the required 178,000 signatures and will be reviewed by t…
azernews.azOPEC+ Approves 188,000 Barrels Per Day Oil Production Hike for June Despite Strait of Hormuz Closure
Seven OPEC+ members agreed to increase production by 188,000 barrels per day in June, marking the third consecutive monthly hike amid the ongoing closure of the Strait of Hormuz. Oil prices dipped slightly on Sunday, with Brent crude at $107 per barrel. President Trump announced…
680news.comU.S. Gas Prices Rise 50% to $4.45 per Gallon
U.S. regular gas prices have climbed to an average of $4.45 per gallon, marking a 49.3% increase since the Iran war started on February 28. Prices rose 35 cents in the past week amid the ongoing closure of the Strait of Hormuz. Efforts to mitigate the spike include releases from…
azernews.azOPEC+ Agrees to Increase Oil Output by 188,000 Barrels Per Day in June
OPEC+ announced an increase in oil production by 188,000 barrels per day for June in its first meeting without the United Arab Emirates. The group, now consisting of seven major producers, adjusted output amid ongoing disruptions from the Iran war. The UAE, the cartel's third-lar…
azernews.azOPEC+ Countries Agree to Boost Oil Output by 188,000 Barrels Per Day in June
Seven OPEC+ nations, including Saudi Arabia and Russia, decided to implement a production increase from prior voluntary cuts amid ongoing market reviews. The adjustment aims to support stability while allowing flexibility based on conditions. The move follows a virtual meeting on…
france24.comOPEC+ Meets on Oil Production Quotas After UAE Withdrawal
Seven OPEC+ members are set to meet on Sunday for their first decision on oil-production quotas since the United Arab Emirates left the cartel. The UAE's departure, as a longtime member, has contributed to soaring oil price pressures amid the Mideast war. Talks this weekend aim t…
247wallst.com**OPEC+ Raises June Oil Output Quota by 188,000 Barrels Per Day**
OPEC+ raised oil production quotas for June by 188,000 barrels per day during an online meeting, involving seven key members but excluding the United Arab Emirates after its recent exit. The decision comes against a backdrop of output shortfalls and disruptions from the Mideast w…
thehindu.comOPEC+ Increases June Oil Output by 188,000 Barrels Per Day
Seven OPEC+ countries have reached an agreement in principle to increase their oil production quotas for June by approximately 188,000 barrels per day. The decision comes amid ongoing discussions within the group on output levels. Two sources confirmed the development.
thehindu.comOPEC+ Agrees to Raise June Oil Output by 188,000 BPD
Seven OPEC+ countries have reached an agreement in principle to increase oil production quotas for June by approximately 188,000 barrels per day. The decision comes amid ongoing discussions within the group on output levels. Multiple sources confirmed the details of the prelimina…
Al JazeeraOPEC+ Increases June Oil Output by 188,000 Barrels Per Day
OPEC+ agreed to increase oil production targets by 188,000 barrels per day for June in its first meeting without the United Arab Emirates, which departed the group last week. The decision comes amid the ongoing U.S.-Israel war on Iran, which has closed the Strait of Hormuz since…
koreatimes.co.krChevron CEO Addresses Q1 Earnings and Middle East Conflict's Impact on Oil Supply
Chevron's chief executive officer appeared on CNBC's 'Squawk Box' to review the company's first-quarter earnings. The executive highlighted portfolio resilience and addressed production impacts from the Middle East conflict and Iran war. A key concern raised was the potential nee…
Financial TimesExxonMobil and Chevron Maintain Prewar Oil Production Strategies
ExxonMobil and Chevron have resisted pressure from the Trump administration to boost oil output. The companies are sticking to their prewar strategies despite a White House plea for more drilling. This comes amid efforts to curb soaring petrol prices.
SemaforUAE Withdraws From OPEC
The United Arab Emirates has left OPEC, effective May 1, 2026, after announcing the decision on April 30. The move allows the UAE to set its own production limits, amid tensions over unrecognized capacity growth. Analysts say this weakens the cartel's influence on global oil pric…
EuronewsUAE to Leave OPEC on May 1, 2026
The United Arab Emirates announced its withdrawal from OPEC and OPEC+ on April 28, 2026, citing national production goals amid global supply disruptions. The move, effective May 1, follows tensions with quotas and regional rivalries. It could increase oil output, affecting market…
Substrate placeholder — needs reviewUAE Withdraws from OPEC and OPEC+ on May 1
The United Arab Emirates has decided to leave OPEC and OPEC+ starting May 1 to gain flexibility in oil production. The energy minister described it as a policy change amid the ongoing Strait of Hormuz crisis. The move aims to boost output to 5 million barrels per day by 2027.
ibtimes.co.ukSurvey Finds U.S. Shale Executives Plan to Hold Oil Production Steady Amid Iran Conflict
U.S. shale executives have indicated they do not anticipate boosting oil production substantially in response to the ongoing Iran war. A recent industry survey captured these views, highlighting a focus on maintaining current levels despite external factors. Seekingalpha.com repo…
Substrate placeholder — needs reviewSLB Reports Q1 2026 Earnings Amid Middle East Disruptions
SLB N.V. reported first-quarter earnings per share of $0.52, exceeding expectations despite revenue declines due to operational disruptions in the Middle East. The company highlighted growth in digital and production systems divisions, while anticipating gradual recovery in affec…
thehindu.comTrump Halts Envoy Trip to Pakistan Amid Review of Iran's 14-Point Peace Proposal
President Trump canceled a planned trip by envoys Jared Kushner and Steve Witkoff to Islamabad, citing the current state of peace negotiations with Iran. He is reviewing a new proposal from Tehran that includes reopening the Strait of Hormuz and ending the US naval blockade.
insidermonkey.comSable Offshore Advances Oil Drilling in California Amid Legal Dispute
Sable Offshore has accelerated oil production at its Santa Barbara platforms despite an ongoing court injunction. The company resumed operations following a presidential executive order, but state officials obtained a ruling to block the restart. Production is increasing with new…
insightsonindia.comIran Faces Potential Oil Production Cuts Due to Blocked Strait
Iran may need to reduce oil production in 10 to 15 days as storage fills amid a blocked strait. The U.S. closed the strait, halting Iran's exports. Prior to the closure, Iran exported 1.85 million barrels per day.
Substrate placeholder — needs reviewUS Energy Secretary Sees Aggressive Timeline for Oil Prices to Decline by Summer
US Energy Secretary Chris Wright stated that a decline in oil and gas prices by this summer represents an aggressive timeframe. His comments followed President Donald Trump's remark that gas prices could rise before midterm elections. Separately, Chinese industrial profits rose 1…
Substrate placeholder — needs reviewSanta Ynez Oil Refinery in California Resumes Operations at 60,000 Barrels per Day
The Santa Ynez oil refinery off Santa Barbara, California, has reopened and is pumping 60,000 barrels of oil daily through onshore pipelines. The restart follows an executive order issued by former President Trump. Officials at the facility provided an exclusive look inside the o…
azernews.azOPEC+ Oil Production Declines 20.5% in March per Kpler Assessment
Kpler's secondary source assessment indicates that OPEC+ oil production fell by 20.5% in March compared to February, marking a record decline. This equates to a reduction of approximately 9 million barrels per day. The data comes from secondary sources tracking the group's output…
Qafilah Magazine / Wikimedia (Public domain)Saudi Arabia Reports 600,000 Barrels Per Day Loss in Oil Production Capacity from Iranian Attacks
Saudi Arabia's Energy Ministry announced a reduction of 600,000 barrels per day in oil production capacity due to attacks attributed to Iran. The damage affected the Khurais and Manifa fields, halting about 5% of the country's production. Additional impacts included disruptions t…
Substrate placeholder — needs reviewUS Government Projects 9 Million Barrel Daily Drop in Middle East Oil Production This Month
The US government anticipates a reduction of 9 million barrels per day in Middle East oil production during the current month. This projection comes amid ongoing regional tensions. Details on the specific causes and affected countries remain limited in available reports.
Substrate placeholder — needs reviewUS EIA Estimates Middle East Oil Production Cuts to Reach 9.1 Million Barrels per Day in April Due to Strait of Hormuz Closure
The US Energy Information Administration has estimated that oil production cuts in the Middle East will increase to 9.1 million barrels per day in April due to the closure of the Strait of Hormuz. This projection reflects disruptions in a key global oil transit route. The estimat…
Substrate placeholder — needs reviewUS Lawmakers Consider Regulatory Rollbacks to Address Rising Gas Prices
US lawmakers are examining proposals to roll back energy regulations amid increasing gasoline prices. Experts indicate that such measures may not effectively reduce consumer fuel costs. The discussions occur against a backdrop of economic pressures and ongoing debates over energy…
Substrate placeholder — needs reviewOPEC+ Group of Eight Countries to Increase Oil Production by 206,000 Barrels per Day
Eight OPEC+ countries have agreed to raise their oil production by 206,000 barrels per day. The decision aims to support oil market stability. This adjustment follows ongoing efforts by the group to balance global supply and demand.