OPEC+ agreed to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production

The Brazilian oil company has signed a contract with the multinational Seatrium O&G Americas to acquire two new offshore platforms to expand production in deepwater areas

OPEC and its allies have yet to begin formal talks on extending voluntary oil output cuts of 2.2 million barrels per day beyond June, but they could keep the cuts if demand fails to pick up

Goldman Sachs has raised its Brent crude oil price forecasts, projecting $86 a barrel for the second half of 2024, up from $85 previously, and $82 for 2025, up from $80

The Biden administration took steps to limit both oil and gas drilling and mining in Alaska, angering state officials who said the restrictions will cost jobs and make the U.S. reliant on foreign resources

YPF will face “macroeconomic stress” and regulatory framework changes this year, according to a report released by the credit rating agency Moody’s on Latin American state-owned enterprises

A meeting of senior OPEC+ ministers kept oil output policy unchanged and pressed some countries to increase compliance with output cuts

OPEC+ will hold an online meeting of the Joint Ministerial Monitoring Committee (JMMC) on April 3 to review the market and the implementation of production cuts by members

The short-term growth in global oil and liquid fuels production will be primarily driven by the United States, Guyana, Canada, and Brazil, offsetting the voluntary cuts by OPEC+, forecasted the EIA

Methane emissions from the energy sector remained near a record high in 2023 despite commitments from the sector to plug leaking infrastructure in a bid to combat climate change, a report by the International Energy Agency said