Keywords: Oil production
The International Monetary Fund (IMF) expects the global economy to continue expanding at a moderate pace, forecasting growth of 3.1% in 2026 and 3.4% in 2027, according to its October 2026 World Economic Outlook. The projection for 2026 has been revised upward by 0.1 percentage point from the fund’s......
Oil prices could settle around $70 a barrel as global energy markets adjust to geopolitical risks and changing supply conditions, according to ConocoPhillips Chairman and CEO Ryan Lance. Speaking at the Energy Intelligence Forum in London, Lance said he expected the lower end of the oil price range......
OPEC+ has postponed a key review of its members’ maximum sustainable oil production capacity, a process that will help determine production baselines and quotas for 2027. The assessment was originally expected to be completed by the end of September but is now projected to be finalized by mid-November,......
Oil-producing countries in the OPEC+ alliance are expected to leave their production targets unchanged for November when seven key members meet virtually on Sunday, according to sources familiar with the discussions. The meeting comes as the group continues to assess disrupted global energy flows and......
Goldman Sachs has raised its oil price forecasts for 2026 and 2027, citing the possibility that disruptions to shipping and energy supplies in the Middle East could continue into next year. The investment bank now expects Brent crude to reach $85 a barrel in December 2026, while US West Texas Intermediate......
U.S. President Donald Trump has announced a new oil agreement with Venezuela that he says will give American interests majority control over more than 65 billion barrels of the country’s proven oil reserves. Trump announced the deal on Friday through his Truth Social account, describing it as......
Venezuela is exploring the possibility of leaving the Organization of the Petroleum Exporting Countries (OPEC) amid a growing rapprochement with the United States regarding its energy sector. However, no definitive decision has been announced at this stage. This potential exit comes as Caracas and Washington......
The OPEC+ alliance is expected to approve a modest increase in oil production quotas for September, according to sources familiar with the discussions, before temporarily suspending further monthly output increases as the group completes the rollback of its voluntary production cuts. The proposed adjustment......
French energy major TotalEnergies has warned that geopolitical tensions in the Middle East affected its hydrocarbon production during the second quarter, although the disruption proved less severe than initially anticipated. Despite the operational impact, the company expects stronger overall financial......
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