China’s refinery throughput in October fell 4.6% from last year, down from year earlierfor a seventh month, as plant closures offset the ramp up ofa newly started complex and demand from holidaytravel, official data showed.

Global oil supply will exceed demand in 2025 even if OPEC+ cuts remain in place, the International Energy Agency (IEA) said, as rising production from the US and other producers outpaces sluggish demand

In a monthly report, OPEC said world oil demand would rise by 1.82 million barrels per day in 2024, down from growth of 1.93 million bpd forecast last month. Until August, OPEC had kept the outlook unchanged since its first forecast in July 2023

The president of Brazil’s state-controlled oil company Petrobras, Magda Chambriard, highlighted that the launch of new extraction platforms will ensure production growth over the next eight years

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

Chevron earned USD 14.422 billion in the first 9 months of the year compared to the figure recorded in 2023, while Exxon Mobil earned USD 26.070 billion in the same period

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

The Organization of Petroleum Exporting Countries (OPEC) is very positive on demand for oil in both the short and long term, Secretary General Haitham Al Ghais said at an energy industry event in Abu Dhabi

OPEC+ could delay December’s planned increase to oil production by a month or more, sources close to the matter said, citing concern about soft oil demand and rising supply

Petrobras’ oil production dropped 8.2% year-over-year in the third quarter to 2.13 million barrels per day (bpd), reported the company