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Oil Production

All articles tagged with #oil production

energy1 month ago

Dallas Fed poll: Hormuz turmoil likely to persist, shaping oil costs and output

A Dallas Fed survey of 116 oil and gas executives finds the Strait of Hormuz disruption is likely to linger through August, keeping shipping costs elevated and offering little offset from U.S. output; executives remain wary of a quick market rebound, expect modest U.S. production gains this year and next, and cite a price environment around $94 per barrel with ongoing risk of future Hormuz disruptions despite White House assurances.

via Politico|
#dallas-fed#energy#iran-war
Gulf Oil Output Slumps as Iran War Disrupts Exports, OPEC Data Show
business1 month ago

Gulf Oil Output Slumps as Iran War Disrupts Exports, OPEC Data Show

OPEC data show March oil output collapsed in Saudi Arabia, Iraq, the UAE and Kuwait due to the Iran war, with Iraq down 61% to 1.6 mbpd, Kuwait −53%, UAE −44%, and Saudi Arabia −23% to 7.8 mbpd, driving a 27% monthly drop in OPEC to 20.8 mbpd. Iran’s production slipped about 5% to 3.06 mbpd. Export disruptions via the Strait of Hormuz and a damaged East-West pipeline (cut capacity by 700,000 bpd) are keeping Gulf producers from restoring full output for months, while oil prices climbed toward $100 a barrel.

via CNBC|
#business#gulf-states#iran-war
Battalion Oil climbs on new gas-treating deal boosting operations
market-news4 months ago

Battalion Oil climbs on new gas-treating deal boosting operations

Battalion Oil (BATL) jumped after announcing a new gas-treating agreement with a large-cap midstream partner. The deal lets Battalion process all gas from its Monument Draw Field, boosts flow reliability, and has helped lift January oil production to about 1,200 net barrels per day versus December. Pre-market trading surged with heavy volume, though Wall Street coverage remains sparse and an AI analyst assigns a neutral $1.50 price target due to weaker profitability and balance-sheet risks.

via TipRanks|
#batl#battalion-oil#gas-treating-agreement
U.S. and Oil Giants Eye Venezuela's Oil Revival Amid Uncertainty
world4 months ago

U.S. and Oil Giants Eye Venezuela's Oil Revival Amid Uncertainty

Despite President Trump's optimistic prediction that US oil companies will invest billions to restore Venezuelan oil infrastructure quickly, industry experts are skeptical due to the lack of government guarantees and the country's uncertain future, suggesting a much longer timeline and cautious approach by firms like ExxonMobil, ConocoPhillips, and Chevron.

via The Guardian|
#investment#oil-production#trump
Venezuela's Oil Reserves: Riches, Risks, and Global Interest
world4 months ago

Venezuela's Oil Reserves: Riches, Risks, and Global Interest

Venezuela holds the world's largest proven crude oil reserves with over 300 billion barrels, but accounts for less than 1% of global daily crude production. Recently, the US conducted a surprise raid capturing President Nicolás Maduro, citing law enforcement reasons, and announced plans to tap into Venezuela's oil reserves, aiming to revitalize its oil infrastructure and boost economic gains.

via Business Insider|
#nicolas-maduro#oil-production#oil-reserves