Tag: oil production
oil productionOil futures fall sharply after OPEC agrees to keep 'current actual production'
Oil futures fell sharply Friday, with the U.S. benchmark settling below $40 a barrel after the Organization of the Petroleum Exporting Countries agreed to keep pumping crude at current production levels despite a global glut.
Venezuela's proposal to cut oil production and up prices receives little echo
Russia and Mexico – non-OPEC countries, which have been invited to participate Venezuela-proposed meeting this week – have no intention to cut oil production, International Oil Daily reported.
IEA says oil supplies may not keep up with demand
Despite what appears to be a saturated oil market in 2014, oil producers around the world will struggle to meet rising demand over the next few decades.
Crude price falls to a three year low, created by shale boom and Libya restart
West Texas Intermediate, WTI crude closed at a three-year low on Wednesday with prices under pressure from the growing oil glut created by the U.S. shale boom and the restart of Libya's largest operational oilfield.
Colombia reaches sustained production of over a million barrels of oil per day
Colombia announced that it produced an average of 1.01 million barrels of oil per day in January, marking the first time that average crude output for a month surpassed the one million-barrel mark that the government had set as a target for the country's oil industry.
US to overtake Saudis and Russia as world’s top oil producers by 2’17, says IEA
The United States is forecasted to overtake Saudi Arabia and Russia as the world's top oil producer by 2017, the West's energy agency said on Monday. The International Energy Agency (IEA) said it saw a continued fall in US oil imports with North America becoming a net oil exporter by around 2030 and the United States becoming almost self-sufficient in energy by 2035.
Falklands’ commercial oil production projected to commence in 2017
By Alicia Dunkley-Willis (*) - With commercial oil production projected to commence in 2017 for the 3,000 population Falkland Islands, efforts are now underway to ensure that the impending wealth does not upset the order here.
OPEC lowers world oil demand forecast for next year
The Organization of the Petroleum Exporting Countries, left its forecast for 2012 growth in world oil demand unchanged at 0.9 million barrels a day, saying it expects growth to slow to 0.8 million barrels a day in 2013 due to a continuing global economic slowdown.
Colombia determined to ensure a floor oil production of 1 million bpd
Colombia which has become South America’s third- largest crude supplier, is speeding environmental permits for oil companies as delays threaten to derail an output target of 1 million barrels a day this year, the nation’s regulator said.
