OPEC+ production freeze stirs global inflation fears

Experts have warned that OPEC+ holding oil production at nine million barrels a day, coupled with Saudi Arabia’s one million barrel cut could fuel global inflation

Global oil demand surges to new heights

Global oil demand hit a new high of 103 million barrels per day in June, driven by increased air travel and higher oil use in China, according to the International Energy Agency

OPEC+ production cut sparks oil price surge

The announcement of the production cut of one million barrels per day caused the oil price to surge and shares of energy giants to rise by 4%

OPEC+ oil cuts deepen energy crisis

Several major oil-exporting nations, including Saudi Arabia and Iraq, have announced surprise production cuts as the world continues to grapple with an ongoing energy crisis

US to sell 26m more barrels from Strategic Oil Reserve

Deadline ends today for interested bids

Sanctions ‘do not affect Russian oil exports much’

Russia’s oil production in July was nearly 310,000 barrels a day below pre-war levels

Taiwan receives ‘carbon-neutral’ crude oil from Azerbaijan

All associated emissions have been offset for the transaction

Which are the top 5 oil-producing countries in the world?

This week, the ELN top 5 series looks at the five largest oil producers in the world

Large UKCS fields ‘could extract extra 900 million barrels of oil’

Hundreds of millions more barrels of oil could be extracted from the UK Continental Shelf (UKCS) from a selected number of large oil fields. That’s according to the Oil & Gas Authority (OGA), which suggests this can be done by increasing the recovery factor (RF), i.e. the overall proportion of oil expected to be extracted […]

Slow economic growth could reduce oil demand, says IEA

Global demand for oil is expected to fall next year due to a slow-down in economic growth, according to the International Energy Agency (IEA). Its ‘Oil Market Report’ (OMR) showed oil demand would grow only by around 900,000 barrels a day this year. For 2013, weaker economic growth worldwide could cut 400,000 barrels a day […]