Oil and Gas
The global economy is likely to continue on its current strong course, according to a poll among economists conducted by Reuters. While this is bullish for oil, some of the implications will likely keep prices range-bound. Global GDP growth could reach 2.9%…
Last year marked a record for U.S. oil production with an average daily production of 12.93 million barrels per day (BPD). That record was 5% greater than the previous record of 12.31 million bpd set in 2019. However, current data from the Energy Information…
As the world focuses on transitioning to green, there are big questions about whether new oil and gas resources should be developed. On the one hand, new oil regions present the opportunity to develop lower-carbon oil and gas through less…
The United Arab Emirates state-owned oil company, Adnoc, has updated its maximum crude oil production capacity figure—and without much fanfare. ADNOC has quietly updated the figure on its website but did not make an official announcement. The new capacity is 4.85 million…
Crude oil prices went lower today after the U.S. Energy Information Administration reported an inventory increase of 7.3 million barrels for the week to April 26. This compared with a substantial draw of 6.4 million barrels for the previous week that pushed prices temporarily…
As India is set to become the world’s largest oil demand growth driver in the coming years, Indian state-owned refiner Chennai Petroleum Corporation Limited (CPCL) plans to commission a new refinery two years later than initially planned by 2025. …