The decision by OPEC+ to boost its production quotas did not have the desired effect on oil markets, with prices having increased since then. One of the main reasons for this upward pressure is that […]
(Bloomberg) — Libya’s parliament-backed prime minister said closed oil fields and ports in the OPEC country may soon reopen, though his rival’s energy minister said negotiations with protesters were proving difficult. Fathi Bashagha, who Libyan […]
Brent crude tops $113 per barrel at the start of the week. Crude prices have recovered to levels before the March 31st SPR release announcement. Libyan outages tipped the mood to slightly bullish early on […]
OPEC raised its oil production by just 57,000 barrels per day (bpd) in March from February, as African members’ struggles to pump more crude partially offset increases at the core OPEC members of the Middle […]
‘Plenty of twists and turns to come,’ says Vitol’s Muller Vitol’s views echo those of Wall Street banks such as Goldman Global oil markets could tighten even more with Russian flows being disrupted and producers […]
January 28, 2022 Source: U.S. Energy Information Administration, Short-Term Energy Outlook, January 2022 Note: Crude oil production totals do not include condensate. In our January Short-Term Energy Outlook (STEO), we forecast that OPEC petroleum production […]
The Arabian Gulf Oil Company, a subsidiary of Libya’s National Oil Corporation (NOC), has suspended oil production for lack of money, Arab News has reported, citing the company’s Facebook page. AGOCO warned late on Thursday that it would […]
A key drilling objective for Hess in 2021 in Guyana’s offshore Stabroek Block is probing deeper geologic intervals where its partnership has now made four well penetrations, the company’s top executives said April 28. Uaru-2, […]
The United Nations Support Mission in Libya (UNSMIL) on Thursday expressed concern over the recent shutdown of a major oil port by the state-owned National Oil Corporation (NOC). “The United Nations Support Mission in Libya expresses its […]
The new Libyan unity government will restore an oil and gas portfolio as one of 27 ministries to administer the war-ravaged OPEC member until December elections, according to the office of the prime minister-designate. A […]
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