Baytex exits the U.S. in $3.25B deal, focuses on higher-return Canadian assets
CALGARY — Baytex Energy Corp. is turning its focus to Canada, announcing plans to divest its position in…
Phil Mickelson-Touted Sable Struggles to Advance Oil Project
Professional golfer Phil Mickelson (Bloomberg) — One of the most compelling corporate dramas in the US oil industry…
Ecuador’s Declining Oil Output Threatens to Spark an Economic Crisis
The last decade has been especially grueling for Ecuador’s economically vital oil industry. Plummeting investment, heavily corroded infrastructure,…
OPEC+ Oil Production Jumped by 630,000 Bpd in September
The members of the OPEC+ group boosted their production in September by 630,000 barrels per day (bpd) from…
Saudi Aramco Can Sustain 12 Million Mpd Oil Output for a Year
Saudi Aramco can sustain its oil production at its maximum capacity of 12 million barrels per day (bpd)…
EIA Raises U.S. Oil Output Forecast, Warns Oversupply Could Crush Prices
The United States is on track to break yet another oil production record this year, but the Energy…
Oil Prices Climb After OPEC+ Announces Modest Output Hike
On Sunday, OPEC+ agreed to raise oil output by 137,000 barrels per day (bpd) from November. The increase…
OPEC Rejects Media Reports of Major Output Hike Ahead of G8 Meet
OPEC has slammed the brake on speculation, flatly rejecting media reports that the G8 is preparing to hike…
‘Red Queen Syndrome’ Hits Global Oil Production
Shale oil wells are gushers in their first year, then deplete rapidly. Shale companies therefore, have to keep…
Saudi Arabia Leads OPEC Output Increase
OPEC crude production rose by about 400,000 barrels per day (bpd) in August, reaching 28.55 million bpd, according…
Why China’s Oil Production Keeps Growing Despite Lower Oil Prices
Over the past couple of years, China’s oil industry has revealed a peculiar trend, with production maintaining an…
Oil Rises on Signs of Tight Supply, Robust Demand in Near Term
(Bloomberg) — Oil rose amid signs of tighter supplies in the near term and on stronger demand signals…