Thursday, March 13, 2025
IEA sees global oil demand hitting a record high in 2023- oil and gas 360

IEA sees global oil demand hitting a record high in 2023

Oil Price China’s reopening is set to drive global oil demand to a record high of 101.7 million barrels per day (bpd) this year, up by 1.9 million bpd from 2022, the International Energy Agency (IEA) said on Wednesday, raising its demand growth estimate for 2023 by 200,000 bpd from 1.7 million bpd growth expected in December. Almost half of

OPEC expands control of oil markets as shale growth stalls- oil and gas 360

OPEC expands control of oil markets as shale growth stalls

Oil Price After a decade of exponential growth, the U.S. shale patch is no longer the swing producer on the global markets. That role is now back in the hands of OPEC and its largest and most influential members in the Middle East, analysts and industry executives say. From growth of over 1 million barrels per day (bpd) in oil

Oil production picking up in second-largest U.S. shale field- oil and gas 360

Oil production picking up in second-largest U.S. shale field

BOE Report Oil production in South Texas, home of the second largest U.S. shale field, is expected to rise as much as 4% this year, as higher prices spur more drilling and as U.S. crude exports set new records. Output in the Eagle Ford shale field tanked in 2020, but has returned to growth with an average increase per month

Heavy slate of U.S. oil refinery overhauls to crimp fuel output- oil and gas 360

Heavy slate of U.S. oil refinery overhauls to crimp fuel output

Yahoo Finance WASHINGTON – U.S. oil refiners plan twice as many refinery overhauls this spring as usual, aiming to resume maintenance delayed by the pandemic and by the lure of record-high margins, according to data provider IIR Energy and Reuters reporting. The size of the planned outages suggests supplies of gasoline and diesel could tighten and margins rise as the