Oil edged lower as the dollar strengthened, with the steam coming out of a rally that pushed crude to the highest level in 10 months.
Offshore drilling activity on the UK Continental Shelf (UKCS) is expected to recover in 2021 with a dozen potential exploration wells identified.
Oil edged lower in New York, with OPEC and its partners engaging in a diplomatic push to agree on output levels before a key meeting on Thursday.
Shell chief executive Ben van Beurden said yesterday the “high point” for the Anglo-Dutch supermajor’s oil production had likely passed.
Reframing the debate: why we should be talking about how to improve exploration and production
The Norwegian Petroleum Directorate (NPD) today confirmed a fall in production.
Operators in the Gulf of Mexico have shut down more than 378,633 b/d of oil output, 21.64% of total Gulf of Mexico production, and 0.827 Bcf/d of natural gas output, 25.71% of production, according to a US Bureau of Safety and Environmental Enforcement survey Sunday.
Russia has thrown its weight behind the extension of oil output curbs, ahead of OPEC talks.
Iraq's oil exports averaged 3.252 million barrels per day (bpd) last month.
Enquest has posted its highest annual production since the company started seven years ago.
Production has been halted on the Goliat field in the North Sea once again.
Norway has increased its production output in November, according to the Norwegian Petroleum Directorate (NPD).
OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut -- and prove the group’s credibility -- brought about its first cuts in eight years, Bloomberg News reports.
The OPEC countries claiming exemption from a deal to limit oil production increased output by almost half a million barrels last month, potentially jeopardizing the group’s agreement unless other members deepen their own cuts.
The growing list of OPEC members seeking exemptions from a planned supply cut has investors seeing future price drops.
Official figures published yesterday reveal mixed fortunes for traditional fossil fuel and wind-energy output in the UK.
Saipem has said it will cut 800 more jobs across Europe in the next four years as it looks to make cost savings.
Global offshore oil production last year was at its highest level since 2010, according to new figures from the US Energy Information Administration.
The chief executive of Vitol said the oil market may see supply and demand rebalance if both Russia and OPEC deliver a meaningful production cut.
Nigeria said it only managed to raise 55% of its six-month revenue target in the first six months of this year.
Oil investors turned bearish at the fastest pace in more than a year as they lost confidence that OPEC will reach a deal with other producers to limit supply at a gathering this week in Algiers.
CNOOC said production has started from its Enping 18-1 oilfield off the South China Sea.
Algeria is on track for more than nine billion cubic metres a year of additional gas output from next year when three delayed projects come online.
Oil rose after Algeria said OPEC may turn its planned informal meeting in Algiers next week into a formal session.
Norwegian production averaged 1.9million barrels of oil, NGL and condensate in August – 9.5% decrease month-on-month.