Markets

Petrobras has made a significant oil discovery in the ultra-deep waters of the Potiguar Basin on the Brazilian Equatorial Margin.

OPEC and its allied partners, collectively known as OPEC+, are charting a steady course in their recent decisions regarding oil production policy.

The Energy Information Administration's (EIA) recent report revealed a significant increase in the production of

The Uinta Basin in northeastern Utah is witnessing a remarkable surge in waxy crude production, driven by advancements in drilling techniques and increasing demand from refiners. 

Amidst an ambitious merger between Chevron Corp. and Hess Corp., both companies are resolute in their efforts to overcome hurdles and capitalize on promising ventures.

OPEC and its allies, known as OPEC+, are holding firm on their current oil production policy, with no plans for changes at the upcoming Joint Ministerial Monitoring Committee (JMMC) meeting.

Mexican state energy company Pemex reported its lowest crude output in 45 years, with production in Feb. having averaged 1.55MM b/d.

The US achieved a remarkable milestone in 2023, surpassing all previous records to average 12.9MM b/d of oil production, attributed to technological advancements such as fracking and horizontal drilling.

The oil industry is undergoing a transformation propelled by the adoption of digital technologies, particularly artificial intelligence (AI), which is revolutionizing operations and driving efficiency.

For the sixth consecutive year, the US asserts its dominance as the world's leading oil producer, a feat validated by the Energy Information Administration (EIA) reporting record-breaking crude oil production levels.