Production
News
December 13, 2019
"Base decline is the volume that oil and gas producers need to add from new wells just to stay where they are—it is the speed of the treadmill,” said Raoul LeBlanc, vice president of unconventional oil and gas at IHS Markit.
News
December 12, 2019
Global oil markets still face a surplus next year even if OPEC and its partners deliver newly-announced production cuts in full, the International Energy Agency said.
News
December 09, 2019
Oil doubters got a surprise from Saudi Arabia on Friday: a pledge of deeper production cuts that sent futures surging for their best week since June.
News
December 06, 2019
OPEC+ will adjust its output target and redistribute production cuts between its members under pressure from Saudi Arabia.
News
December 06, 2019
OPEC stood on the verge of a deal to reduce its official output target in line with recent production, but after six hours of fraught talks in Vienna on Thursday ministers left the cartel’s headquarters before a final agreement was nailed down.
News
December 05, 2019
While Brazil’s President Jair Bolsonaro recently welcomed an informal invitation to join OPEC, the boss of the country’s state-controlled energy company isn’t a fan of the idea and said it’s not a possibility right now.
News
December 05, 2019
Saudi Arabia appeared to be on track to forge a new quid pro quo with fellow OPEC+ members: If you stop cheating, we’ll keep on cutting.
News
December 05, 2019
Sverdrup’s earlier-than-expected start in October broke a long trend of underperformance for Norway’s overall oil production. Output lagged forecasts in 28 straight months through September, even after the 2019 estimate was slashed to a 31-year low.
News
December 05, 2019
Saudi Oil Minister Prince Abdulaziz bin Salman, in Vienna for his first meeting since taking the top job, is willing to raise production slightly if other countries keep failing to meet their existing output target, according to OPEC delegates.
News
December 04, 2019
Oil rose as the U.S. and China moved closer to a trade deal and before the OPEC+ alliance meets later this week to consider extending its output-cut policy.
News
December 04, 2019
OPEC and its allies sent mixed signals about whether they were considering deeper production cuts, fanning oil-market speculation before crucial talks in Vienna this week.
News
December 03, 2019
Gardner Denver Petroleum & Industrial Pumps introduced the new Thunder 5,000 HP Quintuplex pump, designed for duel fuel gas engines, electric motors, diesel engines and gas turbine direct drives.
News
December 03, 2019
OPEC+ is poised for a debate about lax implementation of oil-production cuts in Vienna this week, with Russia asking to discuss a rule change that would exclude some of its oil production from the group’s quota.
News
December 03, 2019
Capital spending in Canada’s oil-sands reserves look set to continue to dwindle as pipeline bottlenecks persist and the Alberta government’s production limits remain in place.
News
December 02, 2019
At current oil prices, “what you cannot do is harvest cash and grow,” said Raoul LeBlanc, a Houston-based analyst at IHS Markit. “There’s an inflection point coming here because production growth is going to slow down massively.”
News
December 02, 2019
For years, OPEC ignored the rise of the U.S. shale industry and came to regret its mistake. Now, the group is making another bold gamble on America’s oil revolution: that its golden age is over.
News
December 02, 2019
Iraq said that OPEC and its allies will consider deeper production cuts, though the comments come after the coalition has widely signaled reluctance to take such action.
News
December 02, 2019
The U.S. solidified its status as an energy producer by posting the first full month as a net exporter of crude and petroleum products since government records began in 1949.
News
November 29, 2019
OPEC and its allies sent more signals that they’ll stick with existing output cuts at their meeting next week.
News
November 29, 2019
For the last year, Saudi Arabia has largely turned a blind eye to cheaters within the OPEC+ alliance, cutting its own output more than agreed to offset over-production from the likes of Iraq and even Russia. Now, Riyadh’s had enough.
