Global oil finds fell to record low in 2016

Global oil discoveries fell to a record low of 2.4 billion barrels in 2016. This contrasts with an annual average of around nine billion barrels over the last 15 years. That’s according to a new report from the International Energy Agency (IEA), which suggests the trend is likely to continue for the third year in […]

Global oil supply fell in March

The world’s oil supply decreased by 230,000 barrels a day from February to March. That’s according to a new report from the Organisation of the Petroleum Exporting Countries (OPEC), which also shows March 2017’s output of 95.8 million barrels per day (mb/d) was still 220,000 barrels per day higher than the same period last year. Demand for OPEC crude in 2017 was revised […]