The drop in oil demand by refiners at local level and the exports limited to a minimum at global level due to the coronavirus pandemic, pushed storage capacity to the limit in the producing provinces
The British giant said it slumped into a u$s4.4-billion net loss in the first quarter as the coronavirus pandemic crushed demand for oil. "Our industry has been hit by supply and demand shocks on a scale never seen before," BP's CEO stated
The world oil market will be comfortably supplied in 2025, the International Energy Agency (IEA) said, even after producer group OPEC+ extended oil supply cuts and a slightly higher than expected demand forecast
OPEC cut its 2024 global oil demand growth forecast for a fifth straight month and by the largest amount yet, a series of downgrades that highlights China's sputtering role as the world's demand growth engine
The OPEC pumped 26.51 million barrels per day (bpd) last month, up 180,000 bpd from October, the survey showed, with Libya again posting the largest increase
The Argentine government is seeking to tender the expansion of the 'Perito Francisco Pascasio Moreno' gas pipeline "as soon as possible" to transport an additional 14 million cubic meters of natural gas per day from Vaca Muerta to Buenos Aires Province
OPEC+ pushed back the start of oil output rises by three months until April and extended the full unwinding of cuts by a year until the end of 2026 due to weak demand and booming production outside the group
Argentina inaugurated the reversal of the Gasoducto Norte pipeline, which will now supply northern and central Argentina as well as allow exports to Brazil from Vaca Muerta
Argentina's state oil firm YPF, opens new tab expects to increase shale oil production by 30% to 40% next year, the company's CEO Horacio Marin said
In a statement, the U.S. Environmental Protection Agency explained that this directive encourages companies to take immediate actions to reduce methane emissions
