Production

West Texas Intermediate crude turned negative today, reaching the lowest on record with its seventh consecutive decline and the biggest fall on record. Chevron and Exxon led losses in the blue-chip index as West Texas oil futures expiring Tuesday...

After three consecutive months of Covid-19 demand destruction and gravity-defying oil prices, operators are finally being forced to shut-in considerable production volumes. Globally, at least 1.9 million barrels per day (bpd) of oil production have been booted offline in...

(BBC) The price of US oil has fallen to a level not seen since 1999, as demand dries up and storage runs out. The price of a barrel of West Texas Intermediate (WTI), the benchmark for US oil, dropped 19.3%...

Guyana is listed among just a handful of countries in the world where oil production is expected to grow this year despite the decline in prices and challenging market conditions being fueled by the COVID-19 pandemic. Non-OPEC liquids production growth...

(Reuters) - Brazil’s state-owned oil firm Petroleo Brasileiro SA said on Wednesday it had begun suspending operations of 62 shallow water platforms in the Campos, Sergipe, Potiguar and Ceara basins. Petrobras, as the company is known, had previously announced the...

The United States Energy Secretary Dan Brouillette has noted that if oil producing countries did not agree to cuts in an attempt to rebalance a low price market and to counter the heavy impact of COVID-19, there may not...

The vast oil fields which have been discovered off the coast of Guyana by ExxonMobil continue to boost the economic outlook of the country even in light of an imminent global recession and growing domestic challenges triggered by political...

After a 4-day marathon of global meetings and arduous and sometimes frustrating negotiations involving the U.S., Mexican, and Russian Presidents as well as the Crown Prince of Saudi Arabia, the OPEC+ group agreed to collectively cut production in May...

(CNBC) A record oil production cut hangs in the balance after energy ministers from the Group of 20 major economies on Friday agreed that stabilization in the market is needed but stopped short of discussing specific production numbers. “To underpin global...

The COVID-19 pandemic has devastated global oil demand triggering the start of shut-ins at operations around the world, led by Canada. A Rystad Energy analysis shows that Canada is the oil producer most affected so far, with the damage estimated...