oil production

Donald Trump has been declared the winner of the 2024 U.S. presidential election, defeating Kamala Harris. This victory, confirmed by the Associated Press, marks Trump’s return to the White House, raising questions about the future of U.S. energy policy. What Happened: Trump’s...

In a significant development in the energy sector, Iraq is set to reactivate a previously dormant pipeline to Turkey, which could substantially impact regional oil exports and negotiations. What Happened: Iraq is reviving a pipeline to Turkey, potentially exporting 350,000 barrels per day by month...

Exxon Mobil Corporation (NYSE: XOM) intends to double oil production from its U.S. shale properties over five years by deploying new technologies, per a Reuters report. The company expects some promising new technologies to significantly improve recovery volumes. XOM seeks to double...

As The Organization of the Petroleum Exporting Countries and its allies, known as OPEC+, announced a reduction in oil production by 1.16 million barrels per day beginning May, the impact was visible not just in oil prices but other assets too, when trading commenced in Asia on Monday. What Happened...

On Sunday, the OPEC and the non-OPEC producers, a group of 23 oil-producing nations known as OPEC+, decided to maintain oil production targets at current levels, including an existing policy of reducing oil production by 2 million barrels per day. OPEC+ decided to continue its daily...

A move this week by the state of Texas to mandate cuts in oil production is "dead" and won't even be the subject of a vote by the state's governing regulatory body, according to the regulator most closely aligned with the proposal. In an interview with Bloomberg TV Monday morning, Ryan Sitton of...

A group of oil exporting nations that encompasses OPEC and a Russia-led group of non-OPEC members will meet Thursday, April 9. But one of the most important players in the market now –  the United States – will be there only as the elephant in the room. The virtual meeting of the OPEC+ group will...

Jobs did a quicker-than-expected vanishing act last month as coronavirus tightened its iron grip on the reeling U.S. economy. Job losses raced up by 701,000 in March, the government said Friday, and the unemployment rate rose to 4.4%, from 3.5% previously. This is pretty devastating data,...

Saudi Arabian oil giant Saudi Aramco made its debut as a public company Wednesday on that country's Tadawul exchange in what was the world's largest initial public offering, one that also created the world's largest company by market value. With a market capitalization of around $1.88...

When the U.S. lifted its crude oil export restrictions in December 2016, it completely changed the landscape for the global tanker industry, creating a major new source of seaborne cargo. Tanker operators' focus on U.S. crude has become increasingly intense ever since, particularly in light of OPEC...

Lower capital expenditures, fewer wells and longer lateral lengths are helping oil and gas exploration and production (E&P) companies turn their balance sheets rightside-up, but oilfield services firms are getting left out in the cold. One of the dirty little secrets of the American shale oil...

Good day,  Shale oil growth in the U.S. might have hit an inflection point, with the rig count having stagnated since mid-2018, and zig-zagging down since it hit a peak last November. Though it is common to witness volatility in rig counts based on global oil demand and the price movement, the...

Shares of Kosmos Energy Ltd. (NYSE: KOS) near a five-year high, and some analysts remain fans of the long-term outlook. The Analysts Raymond James analyst Pavel Molchanov downgraded Kosmos Energy from Strong Buy to Outperform and reiterated a $10 price target. The Thesis The results from the...

Rising oil prices coupled with a "more positive" view of the domestic energy market bode well for Halliburton Company (NYSE: HAL), according to Bank of America Merrill Lynch.  The Analyst BofA's Timna Tanners upgraded Halliburton's stock rating from Neutral to Buy with a...

Carrizo Oil & Gas Inc (NASDAQ: CRZO) reported fourth-quarter results Monday that prompted KeyBanc Capital Markets to "dramatically" lower its estimates and outlook for the Houston-based energy name.  The Analyst KeyBanc's Chris Stevens downgraded Carrizo Oil...