OPEC+ is set to proceed with a planned oil output hike from October, as Libyan outages and pledged cuts by some members to compensate for overproduction counter the impact of sluggish demand

The largest U.S. oil company, Exxon Mobil, stated that oil and natural gas “will remain essential” in 2050, despite climate goals and changes in energy demand, due to their increasing use in the industrial sector

Pemex struck a deal with Mexico-based CME Oil and Gas to reactivate the Bacab and Lum fields, mature wells that are part of the massive Ku-Maloob-Zaap complex

The International Energy Agency (IEA) kept its 2024 global oil demand growth forecast unchanged but trimmed its 2025 estimate, citing the impact of a weakened Chinese economy on consumption

In a monthly report, the OPEC said world oil demand will rise by 2.11 million barrels per day in 2024, down from growth of 2.25 million bpd expected last month

Industrial output of hydrocarbons and mining in Argentina recorded an 8.2% increase in the first half of the year, according to official sources

Brazilian President Luiz Inácio Lula da Silva reaffirmed his commitment to the energy transition but stated that his country will continue exploiting oil because “the world is not yet prepared” to forgo fossil fuels. “I am in favor of an energy transition, but the reality is that the world is still not ready” to abandon […]

Russian President Vladimir Putin’s oil point man said that there was no friction with OPEC+ due to Russia exceeding crude production quotas and that the world’s second largest oil exporter would compensate for its overpumping

U.S. oil production will increase by 320,000 barrels per day (bpd) this year, reaching 13.25 million bpd, a record slightly higher than previously forecast, the U.S. Energy Information Administration (EIA) reported