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Oil supply growth outside OPEC+ could decline by April, while demand remains robust, BP’s Chief Executive Murray Auchincloss said on Monday. “There is a supply increase that’s come outside of OPEC+,” Auchincloss said. “We think that finishes in about February, March, April, and then it’s likely that we see flat to declining production after that …
BP CEO Expects Non-OPEC+ Oil Supply Growth Could Decline by April Read More »
The U.S. Department of Energy’s deputy secretary, James Danly, said on Monday that he does not think there will be an oil glut in 2026. “We have a demand signal for energy that is going up rapidly”, Danly said at the ADIPEC energy conference in Abu Dhabi.(Reporting by Yousef Saba and Jana Choukeir, Writing by …
US Deputy Energy Secretary: I Don’t Think There Will be An Oil Glut in 2026 Read More »
Top Western oil companies are enjoying a windfall from the expanding attacks on Russia’s oil industry – both literal and economic – that have boosted global refining profit margins and mitigated concerns over a looming supply glut. Waves of Ukrainian drone strikes on Russia’s vast network of refineries and export terminals since July have hammered …
Big Oil Gets Big Boost from Escalating Economic War on Russia – Ron Bousso Read More »
Summary ExxonMobil CEO warns EU law could force exit from Europe EU law demands climate plan aligned with Paris Agreement, Woods says Qatar threatens again to halt LNG supply to Europe over sustainability law (Reuters) – Executives at two of Europe’s top gas suppliers, ExxonMobil and QatarEnergy, on Monday warned they could stop doing business …
QatarEnergy, Exxon Executives Warn of Europe Exit Over Climate Law Read More »
Summary OPEC+ agrees to small output increase in December Plans to pause production increases in the new year Russia’s Tuapse port hit by Ukraine drone attack Supply outlook and Asian factory data weigh on prices (Reuters) – Oil prices were little changed despite news that OPEC+ plans to end its supply increases, with the market …
Oil Prices Steady Despite OPEC+ Plans to Pause Output Increases Read More »
Summary OPEC+ pauses oil output increases for Jan-March 2026 Group agrees output hike of 137,000 bpd for Dec 2025 Oil glut predictions dominate outlook for 2026 New sanctions make it difficult for Russia to raise output (Reuters) – OPEC+ on Sunday agreed a small oil output increase for December and a pause in increases in …
OPEC+ Pauses Oil Output Hikes Beyond December Amid Glut Fears Read More »
By Kevin Crowley North America’s two dominant oil companies are carving divergent paths as the global crude market staggers toward what’s widely expected to be a hefty supply glut. Exxon Mobil Corp. is pressing ahead with a raft of expansion projects, even as OPEC and its allies increase production and oil futures hover near a …
Exxon and Chevron Cut Divergent Paths as Global Oil Glut Looms Read More »
By Kevin Crowley Chevron Corp. Chief Financial Officer Eimear Bonner said there’s a risk the oil-price slump persists into next year amid robust output from OPEC+ members and non-aligned nations. “There’s been some OPEC+ unwinds and growth also in non-OPEC supplies,” Bonner said during an interview. “We potentially could see some pressure continue this year …
Chevron CFO Sees Oil Slump Persisting Into 2026 on Ample Supply Read More »
By Olesya Astakhova, Ahmad Ghaddar and Alex Lawler Group likely to agree to 137,000 bpd hike, sources say New sanctions make it difficult for Russia to raise output OPEC+ has slowed pace of increases amid glut predictions Eight OPEC+ countries to meet online on Sunday LONDON/MOSCOW, Oct 31 (Reuters) – OPEC+ will likely agree on …
OPEC+ Likely to Agree Small Oil Output Increase for December, Sources Say Read More »
By Erwin Seba Trump issues denial on social media that U.S. plans to attack Venezuela News media reports say U.S. plans air strikes on Venezuela Brent, WTI set to fall about 2.6% and 2% in October OPEC+ lean towards modest output boost ahead of Sunday meeting, sources say HOUSTON, Oct 31 (Reuters) – Oil prices …
Oil Ends Slightly Up, Trade Choppy on Report, Denial of US Attack Plan on Venezuela Read More »
