International

U.S. production will be growing despite the current capacity constraints in the Permian.

Oil prices have come under downward pressure from rising supplies.

it is not easy for countries like Turkey and Japan to diversify energy supplies.

Saudi Arabia is the only producer with significant spare capacity of around two million bpd.

The Kirkuk area in northern Iraq produces about 230.000 bpd for local refining.

The field is operated by Mellitah Oil and Gas. a joint venture between the NOC and Eni.

The United Arab Emirates (UAE) is seeking to increase its oil output by 5 million barrels per day by 2030.

It was the first government reshuffle in Qatar. the world’s top liquefied natural gas producer.

Unlike traditional oil. shale oil is more capital-intensive.

Russian oil output peaked during the Soviet era. averaging 11.416 million bpd in 1987. according to BP data.