Forecast
News
August 13, 2025
Global oil markets are on track for a record surplus next year as demand growth slows and supplies swell, the International Energy Agency said.
News
July 15, 2025
The U.S. may depart the International Energy Agency without changes to forecasting that Republicans have criticized as unrealistically green, President Donald Trump’s energy chief said.
News
June 12, 2025
U.S. Energy Secretary Chris Wright said it’s “unlikely” the country’s oil production will drop next year, contrary to the expectations released this week by a government agency. The EIA revised down its view of U.S. production Tuesday, anticipating the first drop in output since 2021.
News
June 11, 2025
The Gulf’s rising importance represents a turnaround from the past two decades, when the region took a backseat to the U.S. shale boom. But now tumbling crude prices are hurting shale drillers while major, longer-term Gulf projects are starting to come online.
News
January 14, 2025
(Bloomberg) – Global oil markets will face a widening glut in 2026 as OPEC brings back production and output from the US, Canada and Guyana continues to grow, the US government said in its first set of forecasts for next year.
News
October 16, 2024
Enverus industry analysts have released a summary of 3Q24 upstream M&A activity, with the pace of deals significantly slowing in the third quarter of 2024 to just $12 billion in announced deals.
News
October 15, 2024
Oil prices dropped and concerns over supply chain disruption were eased Tuesday after a report that Israel may avoid targeting Iran’s crude infrastructure. Traders’ focus is now turned back to the International Energy Agency’s expectations of a surplus early next year.
News
October 14, 2024
OPEC trimmed its forecasts for oil demand growth this year and next for a third consecutive month as the group belatedly recognizes a slowdown in global fuel use.
News
October 11, 2024
bp Plc expects its net debt to have risen in the third quarter due to lower refining margins and changes to the timing of asset sales.
News
October 07, 2024
Mike Sommers, president and CEO of the American Petroleum Institute (API), addressed the New Mexico Oil and Gas Association in Santa Fe today, emphasizing the critical role of U.S. energy security amid rising global tensions.
News
September 13, 2024
The Texas Alliance of Energy Producers (the Alliance) board of directors has appointed Karr Ingham as the organization’s new president, effective July 1, 2024.
News
June 18, 2024
Improvements in drilling and fracking techniques amid a wave of corporate takeovers will drive the expansion and more than offset recent reductions in rig deployments, analysts at the the London-based bank wrote in a note titled ‘Underestimate U.S. shale at your peril.’
News
May 02, 2024
The offshore energy industry is taking a significant step toward understanding and protecting endangered seabirds with the launch of the Offshore Nesting Bird Census.
News
April 14, 2024
In its first forecast for 2025, the Paris-based IEA predicted demand growth of 1.1 MMbpd in 2025. It also trimmed its estimate for this year’s expansion in consumption by 130,000 bpd to 1.2 MMbpd. The agency’s growth estimate is below the 1.9 MMbpd predicted by world’s largest independent oil trader, Vitol Group, and about 1 MMbpd less than the increase foreseen by OPEC.
News
July 24, 2023
Chevron Corp.’s board is waiving the mandatory retirement age for CEO Mike Wirth, giving the company more time to find a successor as it notches record production from the world’s most prolific shale basin.
News
January 27, 2023
Rice University’s Mark Finley, Transocean’s Jeremy Thigpen, U.S. Congressman Wesley Hunt and World Oil’s Kurt Abraham took the stage to share one common theme: oil and gas isn’t going anywhere.
News
December 08, 2022
Exxon will now repurchase $50 billion of stock through 2024, expanding its previous plan of $30 billion through 2023, the Irving, Texas-based company said in a statement. The buyback will now include $15 billion of share repurchases this year, which would be the highest annual total since 2013, according to data compiled by Bloomberg.
News
December 08, 2022
The US oil operator said Wednesday it will spend $17 billion in 2023 with the Permian Basin accounting for $4 billion of the total spend. This decision comes after U.S. President Joe Biden called on the US energy industry to reinvest more profits in production.
News
December 06, 2022
The U.S. raised its forecast for oil production next year, reversing course after five straight months of cuts that stoked concern about a slowdown in output from shale fields.
News
December 02, 2022
The short supply of labor in the US oil patch has plagued exploration and production companies all year, and the tightness continues.
News
December 01, 2022
Eni SpA is considering a takeover of private equity-backed oil and gas explorer Neptune Energy Group Ltd., people familiar with the matter said, in what would be a rare upstream acquisition by a European major amid the broader industry shift to renewables.
