Oil Price OPEC’s crude oil production rose in October by 80,000 barrels per day (bpd) compared to September, but the output at the countries bound by the OPEC+ pact continued to be well below the levels agreed, OPEC said on Monday. Total production from all 13 OPEC members averaged 27.90 million bpd in October 2023, up by 80,000 bpd month-on-month,
Nasdaq LONDON – Saudi Arabia will likely roll over a voluntary oil cut of 1 million barrels per day for a third consecutive month into October, five analysts said, amid uncertainty about supplies and as the kingdom targets drawing down global inventories further. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies led by Russia, agreed a
Nasdaq Oil dipped on Friday as the market assessed the aftermath of interest rates hikes at central banks, but were poised for the biggest weekly gains in 10 weeks amid supply disruption concerns and China’s demand recovery hopes. Brent crude futures LCOc1 fell 24 cents or 0.3% to $80.97 per barrel by 0508 GMT. West Texas Intermediate futures CLc1 slipped 29 cents, or
CNBC Energy led the markets for another month. The second-best S&P 500 performer, just behind consumer discretionary, rose 10% in October and added to a 52% gain for the year. Industry heavyweights Chevron and Exxon both reported better-than-expected profits on Friday morning thanks to surging oil prices. West Texas Intermediate crude also hit its highest level since October 2014 earlier in the week. The sector was again higher Monday ahead
CNBC The October market story is really complicated. If you thought September was confusing, October is not likely to be any better, and it could be significantly rockier. That’s because the “buckets” that have moved markets on various days in the past few months are all potentially in play: Elections: Uncertainty over whether there will be a winner on election
North Dakota production set new records in 2017 even though the rig count has gone down. At least 1.18 million BOPD was produced in October and November. North Dakota gas production hit new highs in November as well – over two million Mcf/day. Keep the oil barrels rolling Oil production in October reached 36,698,095 barrels in total, or 1,183,810 BOPD
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