Lukoil PJSC, Russia’s second-largest oil producer, has enough spare capacity to restore output to pre-pandemic levels, indicating that OPEC+ cuts haven’t had any significant impact on its production potential. The company has about 90,000 barrels a […]
OPEC and its allies are expected to press on with their planned revival of oil production when they meet next week, as prices bounce back from their August stumble. The coalition led by Saudi Arabia […]
Source: U.S. Energy Information Administration, Short-Term Energy Outlook (STEO), August 2021 In our August Short-Term Energy Outlook (STEO), we forecast that total world petroleum production will average 98.9 million barrels per day (b/d) in the second half of 2021 (2H21), […]
Energy News Beat Publishers Note (ENB): Sanctions don’t work against Iran. They have made the United States insignificant to their cash flow for years. With the Obama/Biden Iran Nuclear Deal they did not stop enriching […]
Saudi Aramco plans to have 550,000 barrels per day (bpd) more in oil production capacity by 2025 when the expansion projects on two major oilfields are complete, Saudi Arabia’s state-owned oil giant said on Sunday. Aramco, which […]
Oil fell after four monthly gains as data signaled a slowdown in China and investors monitored the spread of the delta coronavirus variant. West Texas Intermediate slipped 0.6%, after climbing 2.6% last week. China’s economic […]
Every year and following the publication of the BP Statistical Review, Rystad Energy releases its own assessment to provide an independent, solid and clear comparison of how the world’s energy landscape changed last year. Our […]
Iran has successfully improved its relationship with China over the past several years. They are trading oil for goods and services. This has helped them get around the U.S.-led sanctions and also helped China buying […]
The friction between Saudi Arabia and the United Arab Emirates that had held oil markets hostage finally ended last week, with an announcement that the Emirati quota from which production cuts are calculated will be […]
The Boeing 767 banked over the Red Sea, turning east into Saudi Arabia. A commercial version of the plane can carry about 260 passengers. Inside this one, Saudi Energy Minister Prince Abdulaziz bin Salman and […]
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