(Reuters) - Brazil’s Petrobras said that its platforms P-74, P-75, P-76 and P-77 located in the deepwater Buzios oil field, the largest in the world, achieved record production levels on June 27, totalling 664,000 bpd and 822,000 boed.
The oil...
The Covid-19 pandemic has landed a lasting blow to both oil and gas markets. Global oil production has absorbed the lion’s share of the impact, but natural gas output, which was previously set to grow, is also set to...
China's crude oil stockpiles will likely extend the uptrend to hit a new record high in June as refinery feedstock imports outpace the rise in throughput levels, while storage availability encourages refiners to actively procure barrels to take advantage...
(Bloomberg) - Oil turned around last week’s setback, extending a slow but relentless rise since falling into negative territory in April.
U.S. benchmark crude futures rose 2.3% Friday to close at the highest level since March 6. The 9.6% increase...
There are two major oil markets worldwide: Brent Crude, which is extracted from the North Sea and serves as the global benchmark, and West Texas Intermediate (WTI), which is primarily extracted from oil fields in Texas, Louisiana and North Dakota and...
(S&P Global) OPEC+ crude oil production could fall by about 1 million b/d in July and August from May levels, based on plans submitted by Iraq and Kazakhstan to institute deeper output cuts to make up for violating their...
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the COVID-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result reducing the world’s recoverable oil...
Since the onset of the COVID-9 pandemic, Hess Corporation’s response has been hinged on three key principles—preserve cash, preserve capability, and preserve the long-term value of its assets. In terms of preserving cash, the company’s Chief Executive Officer (CEO),...
(S&P Global) In its latest monthly oil market report released June 17, OPEC kept its 2020 forecasts largely unchanged from the May outlook, noting a historic contraction in oil demand but improving fundamentals in the months ahead.
"Following an unprecedented...
(CNBC) Sixteen of the world’s leading energy executives met virtually at an unprecedented meeting Tuesday night to talk about how big oil will navigate its biggest crisis in recent history while confronting the coronavirus pandemic.
“Each one of us has had...