Tag: output

Oil jumps on talk OPEC may have deal to limit output in Nov.

Oil jumps on talk OPEC may have deal to limit output in Nov.

 Iranian Oil Minister Bijan Zanganeh agreed to curb production “at close to 4 million barrels per day” By Barani Krishnan NEW YORK (Reuters) – Oil prices rose more than 2 percent in volatile trade on Wednesday on speculation that OPEC members gathered in Algeria could lay the foundation for a production-limiting deal in November. Crude futures had gyrated after a […]

By September 28, 2016 0 Comments Read More →
Saudis, Iran dash hopes for OPEC oil deal in Algeria

Saudis, Iran dash hopes for OPEC oil deal in Algeria

Several sources said Algeria and Qatar were also talking to Iran in a bid to rescue a deal By Rania El Gamal, Alex Lawler and Vladimir Soldatkin ALGIERS (Reuters) – Saudi Arabia and Iran on Tuesday dashed hopes that OPEC oil producers could clinch an output-limiting deal in Algeria this week as sources said the […]

By September 27, 2016 0 Comments Read More →
US EIA data shows global oil supply/demand re-balance may be underway

US EIA data shows global oil supply/demand re-balance may be underway

Brent’s contango narrowed sharply Monday, suggesting that a tightening of the global supply and demand balance could already be underway While oil futures have rallied this past week over talk of a more balanced global market, any prolonged price increase must grapple with bloated US crude oil inventories just as the market enters its typical […]

By August 17, 2016 0 Comments Read More →
Tight gas production ramps up in Argentina’s Neuquén basin, representing 1/4 of output

Tight gas production ramps up in Argentina’s Neuquén basin, representing 1/4 of output

Capital efficiencies of Argentina’s tight gas wells are on par with the best plays in US HOUSTON— Operators in Argentina are focusing on reversing the Neuquén basin’s gas production decline by targeting low-permeability, tight gas reservoirs, says consultancy Wood Mackenzie. The shift to tight gas production over the last three years is being driven by pricing […]

By August 16, 2016 0 Comments Read More →
US gasoline refinery stocks draw 900,000 barrels – Platts

US gasoline refinery stocks draw 900,000 barrels – Platts

Despite ongoing streak of weekly draws, total crude stocks have held onto 32% surplus to 5-year average Strong summer demand is expected to keep downward pressure on US gasoline inventories, but with production rampant across much of the United States. Avoiding another week of stocks builds would require fewer imports and solid exports, according to […]

WPX Energy oil production up in Delaware Basin – adds rig, completing 15-20 DUC wells

WPX Energy oil production up in Delaware Basin – adds rig, completing 15-20 DUC wells

WPX building crude oil gathering system in Stateline area of Delaware Basin TULSA, Okla. – WPX Energy says it is increasing its full-year oil production guidance to an average of 39 to 41 million b/d, up 5 per cent from previous guidance of 37 to 39 million b/d. Guidance for total equivalent production is up 3 per […]