Oil

API released the following statement as a bipartisan group of House lawmakers introduced legislation to guarantee $900 million in annual funding to the Land and Water Conservation Fund (LWCF).

OPEC pumped 29.88 million b d in April. according to an average of the secondary sources used to monitor output.

World oil demand will rise by 1.14 million barrels per day this year. 70.000 bpd less than previously expected.

Stockpiles are currently at the highest level since mid-2017. according to Energy Information Administration data.

OPEC is currently scheduled to meet on June 25.

U.S. natural gas and crude oil production increased last year at the fastest pace ever for a single country.

The operator of Phase 14 development project of South Pars gas field said the third platform of the offshore field was loaded for installation in its designated spot.

Activists occupying a BP-contracted oil rig in the Cromarty Firth have been served with an injunction by the owner in a bid to halt a two-day standoff. Greenpeace UK has claimed.

Total’s UK boss said the French major would keep searching for new discoveries in and around its central North Sea (CNS) stronghold.

Cost uncertainty for offshore oil and gas projects around the globe could be as high as $220bn over the next four years.