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Keywords: Oil production
OPEC has maintained its global oil demand projections even as supply disruptions linked to the war involving Iran shake energy markets. The organization confirmed that Saudi Arabia led a significant increase in production in February, raising output by 250,000 barrels per day in what appears to have......
Saudi Arabia has begun reducing oil production as the effective closure of the Strait of Hormuz fills storage facilities across the Persian Gulf, intensifying what analysts describe as the largest supply disruption in modern oil market history. The move by the world’s largest oil exporter comes......
Kuwait has implemented a precautionary reduction in crude oil production and refining throughput amid ongoing tensions with Iran, the Kuwait Petroleum Corporation (KPC) announced on Saturday. The move follows recent Iranian attacks against Kuwaiti territory and concerns over safe passage of ships through......
The ongoing tensions in the Middle East present Brazil with a unique opportunity to attract international investment in its oil industry, according to Shell's CEO in the country. Cristiano Pinto da Costa emphasized that Brazil’s political stability and reputation as a dependable oil producer......
US Energy Secretary Chris Wright arrived in Caracas on Wednesday for talks with Venezuela’s interim president Delcy Rodríguez, marking the highest level visit by a US energy official to the South American country in nearly three decades. The meeting at the Miraflores presidential palace......
Interim Venezuelan President Delcy Rodríguez sharply dismissed President Donald Trump's assertion that Washington would oversee the country's oil output and revenues, accusing the United States of pursuing "energy greed" amid American forces' seizure of a tanker in the Caribbean. Addressing......
Ukraine has carried out its first attack on a Russian oil platform in the Caspian Sea, signaling a significant escalation in its campaign to hit Moscow’s economic lifelines supporting the war effort. Security officials in Kyiv confirmed that long-range drones targeted the Filanovsky platform operated......
Oil prices have plummeted amid growing forecasts of a historic supply surplus extending into 2027, raising concerns among investors and analysts about prolonged market imbalance. Despite geopolitical uncertainties, the market is bracing for a significant glut driven by supply outpacing demand at an unprecedented......
In a strategic move to regain market share, the eight key members of OPEC+, including Saudi Arabia and Russia, announced on Sunday an increase of 547,000 barrels per day starting in September 2025. This marks the end of a production hike cycle initiated in April. The decision was largely anticipated......