U.S. crude production will hit records over the next two years but grow at a slower rate, the U.S. Energy Information Administration (EIA) said, as efficiency gains offset a decline in rig activity

The Energy Information Administration (EIA) reported in its update that the average crude input to U.S. refineries was 16.5 million barrels per day

U.S.-led coalition imposing a price cap on Russian oil announced changes to its enforcement regime, which, according to the Treasury Department, will make it even more difficult for Russian exporters to evade the cap

World consumption will rise by 1.1 million barrels per day(bpd) in 2024, IEA said in a monthly report, up 130,000 bpd from its previous forecast, citing an improvement in the outlook for the United States and lower oil prices

Trump’s Republican administration had issued the Alaska Industrial Development and Export Authority (AIDEA) seven leases a day before Biden’s inauguration

The Organization of the Petroleum Exporting Countries has pumped 27.56 million barrels per day (bpd) this month, up 220,000 bpd from July

Oil and natural gas are still projected to meet more than half of the world’s energy needs in 2050, or 54%, Exxon Mobil Corp said, with the world failing to keep global temperature increases below 2 degrees Celsius

Goldman Sachs sees less of a downside risk to oil prices from higher-than-expected inventories, noting that lower OECD commercial stocks could add US$2 to its end-2023 Brent outlook of US$86 per barrel

The U.S. Energy Information Administration (EIA) said crude inventories dropped by 9.6 million barrels in the week ended June 23, putting stockpiles down for a second week in a row.

Iran is determined to increase its oil exports despite sanctions imposed by the United States on Tehran’s crude sales, Iranian Oil Minister Javad Owji said