MercoPress, en Español

Montevideo, April 25th 2024 - 06:57 UTC

Tag: oil producers

  • Wednesday, March 13th 2024 - 06:40 UTC

    US for the sixth year running has been the world's main crude oil producer

    In 2023, U.S., Saudi Arabia and Russia were responsible for 40% (32.8 million bpd) of the world’s crude oil output, followed by Canada, Iraq and China. 

    The United States in 2023, for the sixth year running has been the world's main crude oil producer produced more crude oil than any other country in 2023, with an average output of 12.9 million bpd, according to the Energy Information Administration (EIA). 

  • Tuesday, April 21st 2020 - 10:16 UTC

    US oil price on Monday turned negative for the first time in history

    The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, fell as low as minus US$ 37.63 a barrel.

    The price of US oil has turned negative for the first time in history. That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May.

  • Thursday, June 21st 2018 - 08:57 UTC

    Brazil eases rules in oil industry to boost production

    Petrobras banned top offshore construction companies, most of which domestic,  after the Lava Jato investigation revealed the extend of corruption

    Brazil’s move to ease rules forcing oil producers to buy from domestic suppliers means Latin America’s top producer will be able to sustain output of 5 million barrels per day (pbd) by the mid-2020s, compared to just 3.7 million bpd under prior rules, consultancy Wood Mackenzie said in a report on Wednesday.

  • Wednesday, May 30th 2018 - 08:35 UTC

    Shipping emissions the greatest challenge to oil price hikes

    On January 1, 2020, the IMO will enforce new emissions standards designed to significantly curb pollution produced by the world's ships.

    The most prominent driver of oil prices over the next two years is not likely to come from OPEC, Iran or Venezuela, but rather in the shape of a shipping revolution, analysts have warned. New rules coming into force in approximately 18 months' time are seen as a source of great concern for some of the world's biggest oil producers.