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Oil Supply

News

Crude oil prices increased in 2021 as global crude oil demand outpaced supply

January 5, 2022 Energi Staff

By Jimmy Troderman This article was published by the US Energy Information Administration on Jan. 4, 2022. Crude oil prices increased in 2021 as increasing COVID-19 vaccination rates, loosening pandemic-related restrictions, and a growing economy [Read more]

News

US crude production up 2019 to over 12 million b/d

March 2, 2020 Energi Staff

By Emily Geary This article was published by the US Energy Information Administration on Mar. 2, 2020. Annual US crude oil production reached another record level at 12.23 million barrels per day (b/d) in 2019, [Read more]

News

Global liquid fuels production to outpace demand: EIA

February 28, 2019 Energi Staff

The US Energy Information Administration forecasts that despite recent supply reductions, global liquid fuels production to outpace demand.  Repsol photo. Saudi Arabia, Libya, Venezuela and Canada cut pack on liquid fuels production By Matthew French [Read more]

News

OPEC production sees largest monthly drop since Jan. 2017

January 31, 2019 Energi Staff

According to a survey by Reuters, OPEC production saw its largest monthly decline in two years this month.  The decline is due to the cartel’s most recent supply cut agreement.  Reuters photo. OPEC production down [Read more]

News

OPEC production posts biggest drop in nearly 2 years

January 3, 2019 Energi Staff

Overall OPEC production fell in December according to a survey by Reuters, mostly due to a 400,000 barrel per day cut made by Saudi Arabia.  Iran and Libya posted involuntary production declines.  Reuters file photo [Read more] [Read more]

No Picture
News

OPEC, Russia close in on oil supply deal despite pressure from Trump

December 5, 2018 Energi Staff

Saudi Arabia says it is hoping an oil supply deal could result in an overall production cut of at least 1.3 million barrels per day, or 1.3 per cent of the world’s crude output.  Bloomberg [Read more] [Read more]

No Picture
Opinion

US oil reserves rise to record despite production boom

December 5, 2018 Energi Staff

Proved US oil reserves increased by 6.4 billion barrels (19.5 per cent) in 2017 compared with the previous year, according to the US Energy Information Administration.  Harvest Oil & Gas image. Shale plays accounted for [Read more] [Read more]

saudi crude shipments
News

Saudi crude oil shipments to be cut by 500,000 b/d after Trump grants Iran sanction waivers to China, India and 6 other countries

November 12, 2018 Energi Staff

Saudi crude shipments are expected to be reduced in December by 500,000 barrels per day next month, according to the kingdom’s energy minister.  Bloomberg photo. Saudi crude shipments cut in response to lower seasonal demand [Read more]

US crude output
News

EIA forecasts US crude output to top 12 million b/d by 2019

November 6, 2018 Energi Staff

In its monthly report, the US Energy Information Administration says US crude output is expected to average 12.06 million barrels per day (b/d) by mid-2019.  Anadarko photo. US crude output expected to average 12.06 million [Read more]

Iran sanctions
News

US grants Iran sanctions waivers to eight countries, including China

November 5, 2018 Energi Staff

The Trump administration is temporarily granting eight countries permission to purchase oil from Iran.  The Iran sanctions exemptions for China, India, South Korea, Japan, Italy, Greece, Taiwan and Turkey are set to last up to [Read more]

OPEC output
News

Producers struggle to meet increased OPEC output pledges: Reuters

October 22, 2018 Energi Staff

Saudi Arabia has been able to boost its oil output, however, shortfalls from Iran, Venezuela and Angola mean that increased OPEC output pledges may not be met.  Total photo. Trump looks for higher OPEC output [Read more]

NOPEC
News

OPEC: Talk market stability, not oil prices to avoid NOPEC

October 17, 2018 Energi Staff

NOPEC, or No Oil Producing and Exporting Cartels Act has been dormant for years as past presidents have signalled they would veto any move to pass the legislation.  Anadarko photo. NOPEC could open OPEC up [Read more]

oil market
Opinion

Opinion: Oil market hears echoes of 2007/8

September 24, 2018 Energi Staff

Price moves tend to accelerate in the run-up to cyclical peaks and troughs, as the oil market struggles to overcome a worsening deficit or surplus.  Total photo. In 2007, concerns about the oil market were [Read more]

Iran oil
Politics

Trump wrong to expect Saudis to compensate for falling Iran oil supply: Tehran

August 1, 2018 Energi Staff

Iran’s OPEC governor, Hossein Kazempour, says US President Donald Trump is wrong to think that Saudi Arabia and other producers, including Russia, will be able to compensate for millions of barrels of crude taken out [Read more]

Iranian crude
News

Tehran: Removing Iranian crude from market by November impossible

June 27, 2018 Energi Staff

An official with the government of Iran said removing Iranian crude from the global oil market by November is not possible, based on the volume of exports.  Irna.ir photo. 2.5 million barrels of Iranian crude, [Read more]

OPEC output
News

OPEC output hits 12-month low on Venezuelan decline

April 30, 2018 Energi Staff

April’s OPEC output dropped to a one-year low mostly due to significantly lower production from Venezuela and reduced exports from the cartel’s African producers, according to a Reuters’ survey.  Anadarko photo. OPEC output in April hit [Read more]

OPEC
News

OPEC, other crude exporters consider “very long term” cooperation on output

March 28, 2018 Energi Staff

OPEC heavyweight Saudi Arabia, led by Crown Prince Mohammed bin Salman, is in talks with Russia to extend their production output cap deal that could last up to 20 years, according to a report by [Read more]

US shale
News

OPEC, US shale companies to meet in Houston on Monday: Reuters

February 27, 2018 Energi Staff

OPEC Secretary General Mohammad Barkindo, other OPEC officials will meet with US shale companies in Houston to talk about the global oil glut.  OPEC photo. Rising US shale production helped boost overall US output to [Read more]

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In the Spotlight

Smith’s panel on Alberta’s energy future is a bad joke

by Markham Hislop in Markham on Energy

“A new advisory panel will develop a long-term vision for Alberta’s energy future and recommend steps the province should take to ensure the industry [emphasis added] continues to thrive for decades to come.” Premier Danielle [Read more]

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News: editor@energi.media

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