Tag Archives: Production

US oil production ticked up slightly for week ending May 17. coming in at 12.2 million bpd- just 100.000 bpd off the April 26 high of 12.3 million bpd.

The price of crude oil is up about 30% this year.

All eyes will be on the well performance of the potential heavy hitter.

The U.S.-China relationship has moved further off track over the past two weeks.

Production at the Groningen gas field in the Netherlands should be reduced at a faster pace following a 3.4 magnitude earthquake in the northern Dutch region.

Crude inventories rose 4.7 million barrels in the week ended May 17. compared with analysts'. expectations for a decrease of 599.000 barrels.

Saudi Arabia is tapping into the U.S. shale revolution that will primarily ship the fuel to buyers in Europe and Asia.

Iranian Oil Minister Bijan Namdar Zanganeh said that the Supreme National Security Council (SNSC) has tasked the Foreign Ministry with holding talks with European countries on Tehran’s oil exports to the bloc.

Products worth $16.5 billion were exported through the gates of the customs department of the Southern Iranian province of Hormuzgan in the last Persian calendar year (ended on March 20). of which $2.7 billion were the goods produced in the province.

Oil production would continue falling and possibly accelerate throughout 2019 as sanctions-related deadlines pass.