Topic
oil production
60 stories related to this topic, newest first.
rigzone.compolitics2 days 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.
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.
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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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CNBCfinance13 days ago
Incoming UK Prime Minister Burnham Faces Labour Split Over North Sea Drilling Plans
Andy Burnham, set to become prime minister in July, faces an early decision on whether to expand North Sea oil production or prioritize renewables amid supply disruptions from the Iran war and Russia's conflict in Ukraine.
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.
New York Postbusiness20 days ago
California Court Upholds Injunction on Pipeline Repairs but Oil Flow to Chevron Continues
The California Second District Court of Appeal on June 21 upheld a lower court ruling favoring the California Coastal Commission in a dispute over pipeline work. Sable Offshore Corp. said it will continue oil production and consider further appeals.
thehindu.comworld26 days ago
Oil Production Rises in Southern Iraq as Tankers Arrive
Oil production in southern Iraq increased after tankers began arriving at export terminals. The arrivals created space in storage tanks previously filled to capacity.
etftrends.comfinance29 days ago
U.S.-Iran Deal Sets Strait of Hormuz Reopening for June 19 but Shipping Firms Await Formal Deal
A U.S.-Iran agreement sets the Strait of Hormuz to reopen Friday after a three-and-a-half-month closure. More than 10 million barrels per day of Middle Eastern oil production remain shut in.
koreatimes.co.krfinance32 days ago
UAE officials advance oil and AI investment plans
UAE officials aim to continue multi-billion-dollar projects in oil production and AI data centers. The Gulf state had been a major trading partner for Iran before recent conflict began.
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insidermonkey.comfinance42 days ago
APA Reports Q1 2026 Results and Raises Full-Year Oil Production Outlook
APA Corporation held its first-quarter 2026 earnings call on Thursday. Executives reviewed financial results, operational performance, and updated guidance for the remainder of the year.
news.google.compolitics53 days agoUpdated
Exxon Nears Oil Pumping Deal in Venezuela
The U.S. oil company is negotiating an agreement to resume oil production in Venezuela. The talks would end a long-running standoff with the country's government.
financialpost.compolitics54 days ago
Energy Executives Urge UK Government to Prioritize North Sea Oil Production
Energy executives called for greater domestic oil and gas output after emergency talks with Offshore Energies UK. The meeting followed government measures allowing limited imports of Russian refined fuels under temporary licenses.
financialpost.comworld57 days ago
Uganda Oil Pipeline Project Advances Skills Training Ahead of 2026 Production
Uganda is preparing for first oil production in July 2026. The East African Crude Oil Pipeline project is emphasizing skills transfer and local workforce development.
world69 days agoUpdated
ADNOC to Invest $55 Billion in Oil Projects
The Abu Dhabi National Oil Company announced plans to award up to $55 billion in upstream and downstream projects over the next two years, days after the United Arab Emirates left OPEC on May 1, 2026. The move aligns with efforts to boost crude oil production capacity to 5 millio…
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Semaforpolitics70 days ago
Venezuela's Oil Production and Exports Hit Highest Levels Since 2018
Venezuela's oil exports have hit their highest level since 2018 following a surge in crude production. This development comes after the U.S. captured former President Nicolás Maduro and installed a new leader open to private investment. Exports to India have risen considerably, i…
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…
New York Postworld71 days ago
California Faces Oil Supply Challenges Amid Iran War and Local Production Phase-Out
California has received its last shipment of Middle Eastern oil since the start of the Iran War, arriving at the Port of Long Beach. The state relies on imports due to policies phasing out local oil production. Gas prices may rise further as a result.
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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Substrate placeholder — needs reviewworld72 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.comworld72 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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Financial Timespolitics74 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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Semaforpolitics75 days ago
UAE Withdraws from OPEC Effective May 1
The United Arab Emirates has announced its formal exit from OPEC starting May 1, 2026, aiming to pursue independent oil production strategies. The move highlights ongoing tensions with Saudi Arabia over quotas and reflects broader shifts in global energy markets driven by U.S. sh…
247wallst.comfinance75 days ago
UAE Leaves OPEC After 59 Years
The United Arab Emirates has left the OPEC oil cartel effective May 1, marking a significant shift after nearly 60 years of membership. The departure comes amid a closure of the Strait of Hormuz and ongoing regional tensions, potentially weakening OPEC's influence on global oil p…
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New York Postworld76 days ago
UAE Exits OPEC
The United Arab Emirates announced its departure from OPEC effective May 1, a move that could help reduce gasoline prices. In the US, retail gasoline prices have reached new highs despite record oil production, prompting concerns over inflation. Related fuel surcharges for air tr…
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cnbc.comfinance76 days ago
UAE to Exit OPEC Effective Friday, Citing National Interests
The United Arab Emirates announced its withdrawal from OPEC, effective Friday, to pursue unrestricted oil production growth. The move weakens the cartel's market influence, particularly on spare capacity, during ongoing disruptions from the Iran war and closed Strait of Hormuz. E…
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GB Newsfinance76 days agoUpdated
UAE Leaves OPEC to Increase Oil Production
The United Arab Emirates has withdrawn from OPEC after nearly 60 years, aiming to increase its oil output without quota constraints. The move comes amid elevated crude prices above $110 per barrel due to the ongoing U.S.-Iran war and the blockade of the Strait of Hormuz. Experts…
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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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azernews.azfinance76 days agoUpdated
UAE Exits OPEC on May 1
The United Arab Emirates announced its withdrawal from OPEC effective May 1, citing national interests and a desire to increase oil production. The move comes as oil prices surged above $110 per barrel due to the ongoing U.S.-Iran conflict and the closure of the Strait of Hormuz.…
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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…
rigzone.comfinance79 days ago
Dallas Fed Survey: Permian Basin Executives Expect Modest U.S. Oil Production Increases in 2026 Despite Iran War
A Dallas Fed survey of oil and gas executives in the Permian Basin indicates limited increases in U.S. oil production this year and in 2027 due to the Iran war. Predictions show most expect changes under 500,000 barrels per day, amid ongoing uncertainty from price volatility and…
Substrate placeholder — needs reviewworld79 days ago
U.S. Intercepts 34 Vessels in Operation Targeting Iranian Oil Exports
A U.S. naval blockade on Iran, initiated more than ten days ago, has expanded to monitor all Iran-linked ships worldwide. The action follows Iran's blockade of the Strait of Hormuz, which handles over a fifth of global oil and gas exports. Iranian oil production could continue fo…
OilPrice.comfinance80 days ago
Colombia's Oil Production at Multi-Year Lows Amid High Global Prices
Colombia's oil production has declined to multi-year lows due to regulatory changes and reduced investment. A recent spike in Brent crude prices above $100 per barrel, following U.S. airstrikes on Iran, may encourage renewed activity in the sector. Structural issues, including dw…
techjuice.pkworld81 days ago
Investment Bank Projects Swift Oil Production Recovery Amid Market Pressures
An investment bank's analysis forecasts a quick return to prior oil production levels if no additional disruptions occur. This could ease global oil market strains stemming from a recent closure. Energy sector stakeholders are closely watching for signs of sustained recovery.
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…
thehindubusinessline.comfinance84 days ago
Certain U.S. Crude Oil Grades Priced Between $70 and $80 Per Barrel at Wellhead
Certain crude oil grades in the lower 48 states are currently priced between $70 and $80 per barrel at the wellhead, according to a daily price bulletin. The pricing applies to physical crude oil streams in the region. The bulletin provides regular updates on prices across the su…
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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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US Energy Information Administration / Wikimedia (Public domain)world87 days ago
Gulf Oil Production Shortfall Reaches Half a Billion Barrels This Year
Oil production in the Gulf region has fallen short by approximately 500 million barrels this year. If the Strait reopens on Monday, the total shortfall is estimated at 900 million barrels. Affected countries include Saudi Arabia, Iraq, Kuwait, UAE, Qatar, and Bahrain.
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Substrate placeholder — needs reviewpolitics88 days ago
President Trump Suggests North Sea Oil Pipeline to Boost U.S. Energy Sales to Europe
President Trump indicated interest in a North Sea oil pipeline, stating that Europe should purchase more energy from the United States. He mentioned discussing with the UK prime minister the need for the UK to increase North Sea oil production. The comments highlight potential sh…
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Substrate placeholder — needs reviewfinance88 days ago
U.K. Industry Group Calls for Approval of North Sea Oil Projects and Tax Reduction
A leading U.K. industry organization has urged the government to approve extraction from two North Sea oil fields and reduce the windfall tax on domestic oil production. The group stated that these measures could support investment and economic activity in the sector.
Substrate placeholder — needs reviewworld94 days ago
Saudi Arabia Reports 700,000 Barrels Per Day Oil Production Loss from Infrastructure Damage
Saudi Arabia confirmed that damage to oil infrastructure resulted in a loss of 700,000 barrels per day, representing over 5% of its total output. The affected facilities include the Ain Dar-Khurais pipeline and the East-West pipeline. @MarioNawfal reported these details, attribut…
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azernews.azfinance95 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 reviewfinance96 days ago
EIA Annual Energy Outlook Projects Stable US Crude Oil Production Through 2050
The US Energy Information Administration released its Annual Energy Outlook, forecasting that US crude oil production will remain relatively stable in the near term before decreasing slightly by 2050. The report examines energy trends under various economic and policy scenarios.…
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Substrate placeholder — needs reviewfinance96 days ago
Oil Prices Decline Following U.S.-Iran Cease-Fire Announcement Amid Ongoing Regional Tensions
Oil prices fell sharply after President Trump announced a cease-fire with Iran on Tuesday evening. Energy producers in the Persian Gulf remain cautious due to continued attacks and risks in the Strait of Hormuz. Restarting oil production is expected to take months, with at least…
Substrate placeholder — needs reviewworld97 days ago
Peter Zeihan Analyzes Complexities of Controlling Iran's Oil Production
Peter Zeihan, a geopolitical analyst, stated that taking control of Iran's oil production involves significant challenges. He described potential humanitarian crises and the need for a ground invasion. The analysis highlights risks in the context of U.S. policy discussions.
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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 reviewfinance97 days ago
EIA Forecasts Extended Disruption to Crude Oil Production in Persian Gulf
The US Energy Information Administration has forecasted a prolonged disruption to crude oil production at wellheads in the Persian Gulf. The forecast focuses on wellhead production and does not cover flows through the Strait of Hormuz. It excludes natural gas liquids, applying on…
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Substrate placeholder — needs reviewfinance97 days ago
EIA Forecasts U.S. Oil Production Increase in April with Stable Natural Gas Output
The U.S. Energy Information Administration projects U.S. oil production to average 13.64 million barrels per day in April, up from 13.56 million in March. Natural gas production is expected to average 120.3 billion cubic feet per day in both April and May, slightly down from Marc…
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Substrate placeholder — needs reviewfinance97 days ago
EIA Short-Term Energy Outlook Updates US Crude Oil and Natural Gas Production Forecasts
The US Energy Information Administration released its Short-Term Energy Outlook for April, revising forecasts for US crude oil and dry natural gas production. Current-year crude oil production is now projected at 13.51 million barrels per day, down from 13.61 million.
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Substrate placeholder — needs reviewworld97 days ago
Iran Strikes Penetrate Saudi Arabia's Missile Defenses, Damaging Energy Infrastructure
Iran has conducted strikes that penetrated Saudi Arabia's missile defense systems, according to analyst Peter Zeihan. The attacks damaged energy infrastructure, potentially affecting oil production. Continued strikes could disrupt nearly 7 million barrels per day for an extended…
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Al Jazeerapolitics98 days ago
Libyan Oil Disputes Emerge as Vulnerability for European Energy Supplies Amid Strait of Hormuz Closure
Libya's internal factional conflicts over oil production and exports have created supply risks for Europe, parallel to the closure of the Strait of Hormuz following U.S. and Israeli strikes on Iran. The Libyan National Army controls key oil facilities, enabling it to halt exports…
thehindu.comfinance98 days ago
Middle East Conflict Drives Global Energy Price Surge and Economic Strain
The ongoing conflict in the Middle East has led to higher energy costs worldwide, contributing to reduced oil production and potential food price shocks. Thailand's prime minister has urged energy conservation measures due to the country's reliance on oil imports. In the UK, thes…
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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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Jeff Schmaltz, MODIS Land Rapid Response Team, NASA GSFC / Wikimedia (Public domain)finance99 days ago
Libya's Oil Production Reaches 1.43 Million Barrels Per Day, Highest in Over a Decade
The head of Libya's National Oil Corporation announced that the country's oil output has increased to approximately 1.43 million barrels per day. This marks the highest production level in more than a decade. The announcement highlights a recovery in Libya's energy sector amid on…
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azernews.azbusiness100 days ago
OPEC+ Core Members Agree in Principle to Increase Oil Production by 206,000 Barrels per Day
A core group of OPEC+ members has reached an agreement in principle to raise oil production levels by approximately 206,000 barrels per day. This decision occurs during their scheduled monthly virtual meeting amid the closure of the Strait of Hormuz. The increase is described as…
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Substrate placeholder — needs reviewfinance126 days ago
Iran-US-Israel War Disrupts Strait of Hormuz, Drives Global Oil Prices to Record Highs
Iran's actions in the Strait of Hormuz have halted oil tanker traffic, leading to a supply crunch and soaring energy prices worldwide. UK Prime Minister Keir Starmer expressed frustration over the impact on British energy costs from the conflict and related geopolitical tensions.…
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