The global oil market faces intricate challenges as Iraq pushes to significantly boost its production targets amid persistent geopolitical tensions, which threaten key export routes and prompt a strategic shift in US energy diplomacy towards Iran and China
June 28, 2025
Norway's oil production capacity is significantly increasing with the Johan Castberg oilfield in the Barents Sea.
June 22, 2025
Leading international energy companies are strategically expanding their offshore exploration and production in South America to boost future output.
June 22, 2025
US crude oil output is projected to decline in 2026, marking the first annual decrease since 2021.
June 22, 2025
OPEC's crude oil production in May increased by less than stipulated in the OPEC+ agreement, which had planned a significant output hike for the month.
June 15, 2025
Prior to the escalating tensions in the Middle East since Jun. 12, the US is poised for a significant slowdown in oil production growth this year and a steeper overall decline in 2026 than previously projected, according to S&P Global Commodity Insights.
June 14, 2025
The major oil producer located in the Caucasus region is launching a systematic initiative to boost oil and gas exploration and production, driven by anticipated output declines from its mature Azeri-Chirag-Gunashli (ACG) oil complex.
June 08, 2025
The Uinta Basin in Utah, a rapidly growing crude-oil-producing region, holds significant potential for waxy crude production, but its long-term viability hinges on adequate takeaway capacity and supportive infrastructure.
June 08, 2025
The crude oil market is currently consolidating around the mid-$60/b mark, awaiting clearer signals from OPEC+ and broader market dynamics.
June 01, 2025
US offshore oil production, particularly in the Gulf of Mexico (GoM), is projected to experience a significant increase in the coming years, potentially reaching 2.4 MM b/d by 2027, up from 1.8 MM b/d.
June 01, 2025
