Oil Production

Iraq’s oil ministry on Thursday denied a media report citing Oil Minister Ihsan Abdul Jabbar as saying an agreement was imminent with the OPEC+ group to increase Iraq’s crude oil exports. State news agency INA had quoted Abdul Jabbar as…

Russian Energy Minister Alexander Novak expects global oil demand to recover fully in the second quarter of 2021, he said on Thursday. Novak also said that the global oil demand recovery has slowed and that leading oil producers, a group…

The International Energy Agency (IEA) trimmed its 2020 oil demand forecast on Tuesday, citing caution about the pace of economic recovery from the pandemic. “We expect the recovery in oil demand to decelerate markedly in the second half of…

Iraq’s crude oil exports have increased so far in July, shipping data showed and industry sources said, suggesting OPEC’s second-largest producer is still undershooting its production cut target under an OPEC-led deal. Iraq says it is…

On Tuesday, oil prices fell as U.S. lawmakers prepared to wrangle over an economic stimulus package and investors worried about a rise in coronavirus cases worldwide. Brent crude was down 4 cents, or 0.1%, at $43.37 a barrel at 1331 GMT,…

The United States Oil Fund LP, the largest U.S. oil-focused exchange-traded product, stated on Friday in a regulatory filing that it has gained approval to resume offering new shares. USO’s registration of 1 billion new shares has been…

Saudi Arabia said on Wednesday it plans to boost oil production capacity for the first time in more than a decade, a day after it announced a record high hike in crude supply in a battle for market share that has hammered global prices this…