Markets

n a notable admission, Russia has disclosed that it exceeded its OPEC+ production quota in Apr. due to

Recent developments within OPEC+ underscore ongoing tensions over member countries' oil production quotas, echoing past controversies that nearly fractured the alliance.

OPEC+ is expected to extend production cuts in Jun. to maintain inventory stability and price levels, with analysts emphasizing a cautious approach to prevent market share loss.

North Sea Energy Developments Amidst Political Challenges.

In 2023, the US southern state of Texas set unprecedented records in oil and gas production, underlining its crucial role in bolstering both the national and global energy supply.

In Marc, Norway achieved remarkable increases in oil and gas production, setting a new daily output record at 2.1MM bbl., which includes petroleum, natural gas liquids (NGLs), and condensate.

Chevron, through its affiliate Tengizchevroil LLP (TCO), has initiated a significant phase in the expansion of Kazakhstan’s Tengiz oil field.

he South American country is poised to undergo a significant economic transformation with its first oil production targeted for 2028, aiming to replicate the oil success seen by its neighbor, Guyana.

India and China are intensifying their efforts in upstream activities to bolster energy security amidst evolving global dynamics, yet their trajectories appear divergent.

President Gustavo Petro of Colombia announced plans for a deal allowing state-controlled Ecopetrol SA to produce oil and natural gas in Venezuela, following his recent trip to Caracas.