Tag Archives: Oil Production

Venezuela´s oil output has long been on a downward spiral thanks to years of underinvestment and mismanagement.

OPEC members agreed to trim 800.000 barrels a day from October’s production levels for six months through June of this year.

International Brent crude oil futures marked a 2019-peak of $67.80 per barrel in Asian morning hours.

Thanks to shale oil. the U.S. became the world’s largest crude oil producer and exporter for the first time in 2018.

Saudi Arabia is demonstrating extraordinary commitment to accelerating market rebalancing.

Saudi Arabia is demonstrating extraordinary commitment to accelerating market rebalancing.

US oil production has more than doubled over the past decade.

OPEC and its partners decided to extend its production cuts till the end of 2018 in Vienna on November 30.

Both countries agreed to continue coordinating steps on the global oil market in the OPEC+ format.

OPEC exports are off by over 1.5 million barrels per day (bpd) since November.