oil output

Hurricane Laura poses biggest storm threat to U.S. oil output in 15 years

August 26, 2020

Reuters HOUSTON – The U.S. energy industry on Tuesday was preparing for a major hurricane strike, cutting crude production at a rate approaching the level of 2005’s Hurricane Katrina and halting oil refining at plants along the Texas-Louisiana coast. Officials in the two states ordered hundreds of thousands of coastal residents to flee inland as Hurricane Laura strengthened and forecasters

OPEC oil output sinks as Saudi deepens cuts and others cut more, survey shows

June 30, 2020

Reuters LONDON – OPEC oil output hit the lowest in two decades in June as Saudi Arabia and other Gulf Arab members made larger cuts, a Reuters survey found, pushing group compliance in a supply reduction pact above 100% despite incomplete adherence by Iraq and Nigeria. The 13-member Organization of the Petroleum Exporting Countries pumped 22.62 million barrels per day

OPEC output falls as Gulf nations step up delivery of oil cuts

January 2, 2020

Houston Chronicle OPEC’s output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets. Saudi Arabia, Iraq and the United Arab Emirates reduced production in December, the final month of a round of restrictions by the cartel before it presses on with new — and even deeper — curbs this

Russia says it missed oil-deal target due to rise in gas condensate output

October 21, 2019

Reuters: Russia produced more oil in September than envisaged by a global deal due to an increase in gas condensate output as the country prepared for winter, local news agencies reported on Sunday. Russian oil output edged down to 11.25 million barrels per day (bpd) last month from August’s 11.29 million bpd but remained above the cap set under the

Saudis’ Biggest Oil Surge in 5 Years Barely Steadies OPEC

July 3, 2018

From Bloomberg Under U.S. pressure, kingdom boosts production by 330,000 b/d Libyan, Venezuelan losses mean total OPEC output holds steady. Saudi Arabia’s biggest oil-production surge in five years was only enough to keep OPEC’s output steady last month, as losses elsewhere in the group piled up. The kingdom is delivering on its promise to try and tame crude prices, boosting

Saudi Arabia Puts Pedal to the Floor on Oil Production

June 22, 2015

“If you are Saudi Arabia…you would go to full capacity” Goldman Sachs and Citi Group predict that Saudi Arabia will likely start to push production to its daily maximum of 11 MMBOPD in the second half of 2015, reports Bloomberg. “If you are Saudi Arabia and you’re looking at the new oil order we live in, you would go to