Wednesday, March 5, 2025

OPEC Holds Production Steady as Compliance Exceeds Promised Cuts

From Bloomberg OPEC’s crude production held steady in December as the group approached a fresh year of output curbs in full compliance with its supply deal. The 14 members of the Organization of Petroleum Exporting Countries pumped 32.47 million barrels a day, according to a Bloomberg News survey of analysts, oil companies and ship-tracking data. Libya saw a 30,000-barrel-a-day decline

Trump to Seek Biggest Offshore Drilling Increase in Decades

From Bloomberg The Trump administration is poised to open the door to selling new offshore drilling rights from the Atlantic Ocean to the Arctic Sea, igniting a fight with coastal residents worried about oil spills befouling beaches and jeopardizing tourism dollars. The proposal — set to be the most expansive such offering in decades — is a response to President