World Oil (Bloomberg) — Investors desperate for clues on the outlook for U.S. shale oil production now have one of their first official forecasts for 2023, with the new chief executive officers of Permian Resources Corp. planning a 10% increase to take advantage of elevated crude prices. The 35- and 34-year-old “shalennials” Will Hickey and James Walter today took over the helm
World Oil (Bloomberg) — The United Arab Emirates will try to convince OPEC+ to increase oil output faster, but there’s little the Gulf country can do if Saudi Arabia isn’t on board. “Boosting production is not so much an OPEC discussion, it’s a Gulf discussion,” said Bill Farren-Price, a director at Enverus Intelligence Research and veteran observer of the group.
Reuters LONDON – OPEC and its partners have agreed to raise their collective production by 0.5 million barrels per day (bpd) in January, with output to be reviewed and adjusted at monthly intervals thereafter. The increase is much smaller than the 2 million bpd scheduled last April, but marks a significant shift from the start of November, when the group
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