Topic
Oil Production
48 stories related to this topic, newest first.
theconversation.comworld21 hrs ago
Nigeria Crude Output Hits 1.56 Million Barrels Daily in June
Nigeria produced an average of 1.56 million barrels of crude oil per day in June 2026, exceeding its OPEC quota by 4 percent. The Nigerian Upstream Petroleum Regulatory Commission reported the figure Sunday, marking the highest monthly total since April 2020.
rigzone.compolitics1 day ago
U.S. Oil Production Hits Record 21.1 Million Barrels Daily in 2025
Fossil fuels supplied 86% of global energy use last year while the world consumed more energy than at any point on record. The United States remained the top natural gas producer and petroleum products exporter.
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news.google.comfinance3 days ago
IEA Lowers Russia Oil Output Forecast for 2026 and 2027
The International Energy Agency reduced its 2026 and 2027 Russian oil supply projections after Ukrainian drone strikes damaged refineries, storage, and transport facilities. The agency cut its 2026 forecast by 85,000 barrels per day and its 2027 forecast by 150,000 barrels per da…
livemint.comfinance8 days ago
OPEC+ to Raise Oil Output by 188,000 Barrels a Day in August
Seven OPEC+ members agreed to increase combined production starting next month. The move continues a gradual reversal of voluntary cuts first announced in 2023.
The Independentbusiness8 days ago
Seven OPEC+ Countries Plan 188,000 Barrel Daily Output Increase in August
Seven OPEC+ members agreed to raise combined oil production by 188,000 barrels per day starting in August. The move marks the fifth consecutive month of output increases by the group.
theepochtimes.comfinance11 days ago
OPEC+ Group Plans August Output Increase of 188,000 Barrels Daily
The seven-member OPEC+ group is expected to approve another production quota increase for August. The decision follows earlier hikes that began after U.S. and Israeli strikes on Iran.
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investopedia.comfinance12 days ago
U.S. Crude Oil and Petroleum Output Reached Record in April
Total U.S. production of crude oil and petroleum products rose 254,000 barrels per day in April to 21.84 million barrels per day. Crude oil production alone increased 216,000 barrels per day to a record 13.93 million barrels per day.
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themarketherald.com.aufinance13 days ago
U.S. Crude Oil Production Reached Record 13.934 Million Barrels Per Day in April
Monthly data from the U.S. Energy Information Administration showed output rose 216,000 barrels per day above March. The increase followed a temporary price spike tied to the Iran conflict and Hormuz closure.
japantimes.co.jpworld34 days ago
Middle East oil producers cut output by more than 11 million barrels per day
Middle East oil producers have reduced daily output by more than 11 million barrels while the Strait of Hormuz remains blocked. The reduction is based on data from the U.S. Energy Information Administration.
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freepressjournal.infinance36 days ago
OPEC+ Approves 188,000 Barrel Daily Output Increase for July
OPEC+ agreed Sunday to raise its collective crude production by 188,000 barrels per day starting in July. The decision adds to earlier increases approved since April that total nearly 600,000 barrels daily.
thebell.iofinance47 days ago
CNOOC 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.orgworld48 days ago
Libya 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.
rigzone.comfinance52 days ago
U.S. Oil and Gas Rig Count Rises to 558 This Week
Baker Hughes reported the total number of active drilling rigs in the United States reached 558 this week. Oil rigs increased by 10 while gas rigs declined by 3.
forbes.comfinance53 days ago
U.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.
Semaforworld53 days ago
U.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.comfinance56 days ago
Brazil 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 reviewworld58 days ago
Iraq 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.
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Euronewsworld65 days ago
Heavy 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.comfinance68 days ago
OPEC 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.
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tass.comfinance68 days ago
Satellite 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.
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japantimes.co.jppolitics70 days ago
Alberta 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…
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azernews.azpolitics71 days ago
OPEC+ 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.comfinance71 days agoUpdated
U.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…
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azernews.azfinance71 days ago
OPEC+ 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…
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azernews.azfinance71 days ago
OPEC+ 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…
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Substrate placeholder — needs reviewworld71 days ago
OPEC+ 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…
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247wallst.comworld71 days ago
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…
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thehindu.comfinance72 days ago
OPEC+ 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.
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thehindu.comfinance72 days ago
OPEC+ 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…
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Al Jazeerafinance73 days ago
OPEC+ 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…
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koreatimes.co.krworld73 days ago
Chevron 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…
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Financial Timespolitics73 days ago
ExxonMobil 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.
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Semaforworld75 days ago
UAE 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…
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Euronewsbusiness75 days ago
UAE 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…
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Cnbcfinance76 days ago
UAE 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.
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ibtimes.co.ukbusiness79 days ago
Survey 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…
insidermonkey.comworld79 days ago
SLB 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…
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thehindu.comfinance78 days agoUpdated
Trump 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.
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insidermonkey.combusiness84 days ago
Sable 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.comworld84 days ago
Iran 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.
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Substrate placeholder — needs reviewfinance91 days ago
US 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…
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Substrate placeholder — needs reviewworld92 days ago
Santa 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.azfinance94 days ago
OPEC+ 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…
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Qafilah Magazine / Wikimedia (Public domain)finance95 days ago
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…
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Substrate placeholder — needs reviewfinance97 days ago
US 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.
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Substrate placeholder — needs reviewfinance97 days ago
US 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…
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Substrate placeholder — needs reviewworld98 days ago
US 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…
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Substrate placeholder — needs reviewfinance99 days ago
OPEC+ 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.
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