Tag Archives: Oil Production

Up to £330bn could be spent on extracting oil and gas from UK waters over the next three decades.

The US has increased its own oil production and exports.

U.S. crude oil production has climbed by almost a third since mid-2016 to around 11 million barrels per day.

Russia will take leadership for the new secretariat.

Russian-Saudi-OPEC collusion reduced the slack in oil markets. and led to lower stockpiling of crude oil and petroleum products in 2017.

Both firms were roped in by the Iraqi government to help reduce gas flaring. which the oil ministry hopes to snuff out by 2021.

ADNOC has a target to have production capacity of 3.5 million bpd by the end of this year.

Russia has increased its oil production by 400.000 barrels per day.

Production from the nation’s major shale plays is expected to rise by almost 100.000 bpd month-on-month in November.

Producers’ unwillingness to raise spending despite higher oil prices also is taking a toll.