OPEC+ postponed the start of increasing oil production, tightening the market supply and potentially leading to higher prices. Morgan Stanley revised its Brent crude price forecast to $70 per barrel for the second half of […]
Oil driller trims green budget to $1.5 billion from $2 billion Chevron is prioritizing profits over oil production next year Chevron Corp. is cutting low-carbon investments by one-fourth as the oil explorer trims spending across the […]
The North Sea crude market experienced a record-breaking trading day, with eight cargoes traded, potentially influencing Brent Crude prices. Major oil companies and trading firms participated in the trading frenzy, signaling bullish market sentiment. While […]
Deloitte’s oil and gas industry outlook for 2025 forecasts that the Trump presidency will facilitate continued consolidation in the U.S. oilfield services sector next year. The oilfield service sector is already consolidating, with a slew […]
Daily Standup Top Stories China Could Approve 100 New Nuclear Reactors by 2035 December 4, 2024 Mariel Alumit China could keep the pace of approving at least 10 new nuclear reactors over the next 10 years, […]
Full financial assurances from buyers for well clean-up costs have stalled all 37 proposed oil well sales in 2023. 41% of California’s wells are idle or orphaned, with clean-up costs estimated at $2.8 billion. The […]
A small group of major oil-producing countries, including the leaders of the OPEC+ alliance – Saudi Arabia and Russia – have blocked a United Nations-backed summit from agreeing on a binding treaty to put limits […]
Texas oil town Odessa and Denver joined the top 10 US metropolitan areas with the highest weekly wages over the past year. San Jose, San Francisco and Midland, Texas, — Odessa’s bigger sister in the Permian […]
The total number of active drilling rigs for oil and gas in the United States fell again this week, according to new data that Baker Hughes published on Wednesday, after falling in the week prior. The […]
Data source: U.S. Energy Information Administration, Petroleum Supply Monthly An average of 13.4 million barrels per day (b/d) of crude oil was produced in the United States during August 2024, a new record according to data from […]
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