Category: Production

Russian exports from western ports would increase by 5%

Daily shipments of Russian crude oil from its western ports are expected to increase by about 100,000 barrels per day (bpd) to 1.97 million bpd in April compared to March

OPEC+ issues new plan for cuts to compensate for overproduction

The plan will represent monthly cuts of between 189,000 barrels per day and 435,000 bpd, according to a table on OPEC’s web site. The scheduled cuts last until June 2026

EIA: US crude oil inventories rise while gasoline falls

According to a survey, crude oil inventories increased by 1.75 million barrels last week to 437 million barrels, compared with analysts’ expectations of a 0.5 million barrel increase

Oil prices tick up on US attack on Houthis, China economic hopes

Oil prices rose slightly after the United States vowed to keep attacking Yemen’s Houthis until the Iran-aligned group ends its assaults on shipping, while Chinese economic data buoyed hopes for higher demand

IEA revises down 2024 oil consumption figures

The International Energy Agency (IEA) has revised its 2024 oil consumption figures and demand expectations for 2025 due to uncertainty caused by U.S. tariff announcements

OPEC says Kazakhstan leads OPEC+ output increase and maintains demand forecast

The Organization of the Petroleum Exporting Countries (OPEC) reported on Wednesday that Kazakhstan led a significant increase in production in February by OPEC+, highlighting the challenge the group faces in meeting agreed production targets

Argentina’s energy exports grew by 23.7% year-over-year in January

According to official sources, crude oil, gas, and other energy products exported in the first month of the year accounted for 14.9% of Argentina’s total exports in January

Trump once again calls for OPEC to drop oil prices

U.S. President Donald Trump reiterated his call for OPEC to cut oil prices to hurt oil-rich Russia’s finances and help bring an end to the war in Ukraine

Aramco expects additional oil demand of 1.3 million bpd this year

Saudi oil giant Aramco’s Chief Executive Amin Nasser said he sees the oil market as healthy and expects an additional 1.3 million barrels per day of demand this year

Trump promises to fill the U.S. Strategic Petroleum Reserve ‘to the top.’

During his inaugural address at the Capitol, Trump promised to “lower prices, refill our strategic reserves to the top, and export American energy worldwide”