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Russian oil exports drop to lowest in 7 months amid OPEC cuts and sanctions
Russian oil exports are down as the country moves to comply with OPEC production cuts and sanctions…
Kelly Cloonan
US oil production just hit a record high
US oil production hit a record high of 13.4 million barrels per day last week, up from 12.6 million…
Kelly Cloonan
OPEC+ extends major oil production cuts until 2025 to stabilise market
Faced with slow demand growth, high interest rates, and the rise in U.S. oil production, the group …
ANI
The US will be an oil production powerhouse through at least 2026, Goldman Sachs says
The US is on track to churn out 270,000 barrels of oil a day in 2026 as the drilling boom continues…
Jennifer Sor
Putin backs OPEC production cuts but warns of losing oil-market share to the US
Putin backed the production cuts, but said the output is dropping "while it grows in other countrie…
Yuheng Zhan
OPEC slashed oil production last month as the group kicks off plan to boost sagging prices
OPEC+ scaled back oil output by 490,000 barrels a day last month, Bloomberg reported, with half of …
Yuheng Zhan
Here's why OPEC's production cuts haven't boosted the price of oil
Oil demand is uncertain at a time when supply is rising both from countries within OPEC+ and from p…
Phil Rosen
Oil prices surge as US rushes forces to the Middle East ahead of a possible attack by Iran
Oil prices are surging as Israel prepares for an attack from Iran after killing a Hamas leader in T…
Kelly Cloonan
No matter how much OPEC cuts oil production, other countries will 'fill the hole,' trader says
"We're looking at 2024 and we're concerned that the market is actually going to end up being oversu…
Aruni Soni
The US isn't the only one eating into OPEC's market share — Brazil and Guyana are hitting record oil production volumes
Brazil and Guyana have emerged as crude-producing giants in 2023, and they are commanding an increa…
Phil Rosen
The world is 'far off' from peak oil amid strong demand, OPEC chief says
Robust demand from countries like India, which is showing "phenomenal economic growth," mean peak o…
Aruni Soni
Record-breaking oil production from the US has left OPEC with its lowest crude market share in nearly a decade
The IEA said global oil demand has slowed sharply amid economic turmoil, while the US, Brazil, and …
Phil Rosen
OPEC will gain more control of the oil market in 2024, and can raise production again in the 2nd half of the year, energy firm says
The oil cartel has cut the right amount of production to keep markets balanced to start next year, …
Phil Rosen
Russia undermines its pledge to OPEC+ as crude oil and fuel exports jump
Despite Moscow's pledges to curb exports, Russia's energy outflows have boomed in recent weeks.
Filip De Mott
US crude exports set a record high amid market share war with OPEC
US exported nearly 4 million barrels a day of oil in the first half of 2023, up 19% from a year ago.
Aruni Soni
Oil prices briefly spike as Russia suggests more OPEC+ cuts will hit markets in 2024
But oil prices later gave up gains and turned lower, with Brent crude and West Texas Intermediate b…
Jennifer Sor
OPEC and Saudi Arabia are losing their grip on the oil market as prices see the longest fall in 5 years
Saudi Arabia could be pushed to flood the oil market with supply in a bid to regain control of pric…
Jennifer Sor
Russia's weekly oil flows spike to the highest in 5 months as OPEC and allies grapple over cuts to output
Russian oil exports jumped over the last week. OPEC and its allies have been trying to curb output …
Jennifer Sor
OPEC says 'exaggerated concerns' about demand are hitting oil prices but still sees a slowdown in 2024
"The market dynamic was fuelled by exaggerated concerns about oil demand growth, which negatively i…
Filip De Mott
The oil market is at risk of a supply shortage as peak demand is still 10 years away, Goldman Sachs says
Demand for crude is set to climb through 2034, as major oil producers pull back on spending, Goldm…