Tag Archives: Oil Production

Thanks to shale. US oil production surged to a record level of 11.6 million barrels per day earlier this month.

The kingdom is considering slashing oil production by up to 1.4 million barrels per day (bpd) with OPEC members.

The oil market could tip into a shortage in the 2020s because ``nobody is allowed to fully invest in future oil production.

Surging production from the world’s biggest oil producers have more than offset Iranian and Venezuelan supply losses.

The increase in the volume of this export will take place in several stages.

Japanese refiner Fuji Oil is set to resume Iranian crude purchases after Japan received one of those waivers.

Reduced Saudi oil imports tend to reflect in lower weekly U.S. inventories.

The Saudi tactic to send reduced volumes to the States succeeded last year.

Saudi Arabia’s in a more precarious position for this upcoming OPEC meeting.

Libya hopes to obtain an exemption from possible reductions in oil production.