U.S. Oil Prices Plunge as OPEC+ Decides to Boost Production in June
U.S. oil prices tumble after OPEC+ agrees to surge production in June Logo of the Organization of the Petroleum Exporting Countries (OPEC) Andrey Rudakov | Bloomberg | Getty Images U.S. crude oil futures fell more than 4% on Sunday, after OPEC+ agreed to surge production for a second month. U.S. crude was down $2.49, or […]
GeoPark Purchases Repsol’s Colombian Oil and Gas Assets for $530 Million
GeoPark acquires Repsol’s Colombian oil and gas assets for $530 million GeoPark Limited, a prominent independent energy company operating across Latin America, has signed Sale and Purchase Agreements (SPAs) with Repsol Exploración S.A. and Repsol E&P S.A.R.L to acquire key oil and gas assets in Colombia. The acquisition encompasses Repsol Colombia O&G Limited’s 45% non-operated […]
Oil Price Forecast: US Increases Crude Production While OPEC Considers Boosting Supply
Oil price outlook: US pumps more crude as OPEC eyes more supply Exxon Mobil Corp. and Chevron Corp. capped Big Oil earnings season by revealing blockbuster increases in fossil fuel production — just as OPEC and its allies are preparing to increase the supply of crude into the global market. The US oil majors’ increases […]
Analysis of the Fourth-Largest Crude Oil Producer in OPEC – Eurasia Review
Fourth-Largest Crude Oil Producer In OPEC – Analysis – Eurasia Review Iran was the fourth-largest crude oil producer in OPEC in 2023 and the third-largest dry natural gas producer in the world in 2022.1 It holds some of the world’s largest deposits of proved oil and natural gas reserves, ranking as the world’s third-largest oil and […]
Saudi Arabia Increases Oil Prices for Asian Markets
Saudi Arabia Raises Oil Prices to Asia The world’s largest crude exporter, Saudi Arabia, has raised the price of its flagship grade to Asia by more than expected amid high volatility in international oil prices amid the escalating conflict in the Middle East. Saudi Aramco in the weekend raised the price of its Arab Light […]
Low Prices Pressure U.S. Oil and Gas Production
Low Prices Squeeze U.S. Oil and Gas Output By John Kemp, energy analyst U.S. oil production growth continues to slow in response to the fall in prices, as the initial shock from Russia’s invasion of Ukraine and the sanctions imposed in response more than two years ago fades. Crude and condensates output from the Lower […]
From Humble Beginnings to Prosperity: Guyana’s Rapid Transformation into a Petrostate
From Rags to Riches: Guyana’s Meteoric Rise as a Petrostate Oil tumbled at the end of the U.S. summer driving season, with fears of an economic slump in China weighing heavily on the outlook for petroleum. As such, the international Brent benchmark plunged by over 12% in a month to lows not seen since early […]