Markets

Nigeria's oil production reached its highest level for 2024 in Nov., hitting 1.7MMb/d, a significant 13.3% increase compared to Nov. 2023.

Canada's oil industry is preparing for increased output in 2025, with major producers Cenovus, Imperial Oil, and Suncor each planning to boost production next year despite political pressures.

OPEC+ has decided to delay the start of its production increases for three months, postponing the gradual easing of its cuts from Jan. 2025 to Apr. 2025.

OPEC+ has delayed its planned rollback of voluntary crude production cuts by one month, with the gradual increase now scheduled to begin in Jan. 2025, instead of Dec. 2024.

OPEC+ is navigating a complex landscape of uncertainty regarding its production strategy for Dec., with traders divided on whether the organization will proceed with planned increases.

Brazil’s state-owned producer has initiated production operations from the Maria Quitéria floating production, storage, and offloading (FPSO) unit at the Jubarte field in the Campos Basin's presalt area offshore Brazil.

Recent developments in South America's oil and gas sectors, particularly in Guyana, Suriname, Brazil, and Argentina, are poised to significantly impact the global energy landscape.

Algeria is set to announce a new oil and gas licensing round aimed at attracting significant foreign investment from major companies like Chevron, Eni, ExxonMobil, and Sinopec.

Recent geopolitical tensions in the Middle East have elevated concerns regarding the stability of crude supply, which could significantly impact the global oil market.

US energy major has initiated a significant strategic shift by divesting its Canadian oil sands and shale assets to Canadian Natural Resources Limited (CNRL) for $6.5B, alongside selling minority stakes in Alaska's Kuparuk and Prudhoe Bay oilfields to ConocoPhillips for approximately $300MM.