Markets

The US EIA has slightly lowered its forecast for US oil production in 2024.

Macquarie and JP Morgan have offered insights into the upcoming OPEC+ meeting on June 1.

Colombia aims to increase its oil production to 1 MM b/d by revitalizing underutilized exploration blocks, according to Energy Minister Andrés Camacho.

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.