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U.S. oil production hit a new record high in August, marking a significant milestone in the nation's energy output. This surge in production underscores the continued growth and efficiency of the U.S. oil industry, solidifying its position as the world's leading oil producer. The latest figures show that U.S. oil companies are pumping more crude than ever before, even as the number of active drill
Oil prices climbed for the third straight session on Thursday, as positive U.S. jobs data alleviated demand worries and ongoing conflict in the Middle East spurred a recovery from Monday's eight-month low.
Read MoreAs of July 2024, crude oil prices have shown a modest recovery from earlier lows. Brent crude, a major benchmark, is trading around $88 per barrel, up from $82 per barrel in June. This increase follows a dip to $75 per barrel after OPEC+ announced it would begin unwinding production cuts later this year.
Read MorePemex, once a global oil giant, is now burdened by debt and declining production. The Mexican government's support for Pemex has come at a high cost. Pemex faces challenges in both addressing environmental concerns and attracting investment.
Read MoreIn the southern region of Iraq, along the coast of the Persian Gulf, lies the Basrah Iraqi Crude Port, a pivotal player in the global oil industry. As the principal outlet for Iraq’s oil exports, Basrah port is not only essential for the country's economy but also plays a significant role in the international energy market.
Read MoreWhen discussing oil traded on financial markets, two primary types are distinguished: WTI and Brent.
Read MoreOil prices have remained relatively stable over the past quarter, continuing a trend seen since late 2022. Will the next three months bring a significant shift? Here are the latest oil forecasts and price predictions for the second half of 2024 and beyond.
Read MoreU.S. equities declined at the close on Friday, with losses in the Dow Jones Consumer Goods, Dow Jones Oil & Gas, and Dow Jones Technology sectors driving shares lower. At the NYSE close, the Dow Jones Industrial Average fell 0.93%, the S&P 500 index dropped 0.71%, and the NASDAQ Composite index decreased 0.78%.
Read MoreOil spills are one of the most devastating environmental disasters that can occur in marine and coastal ecosystems. These spills can have a catastrophic impact on the delicate balance of these ecosystems, causing long-term damage to the wildlife that calls them home.
Read MoreAlberta is grappling with a surge in wildfires fueled by hot and dry weather, endangering more than 400,000 barrels per day (bpd) of oil sands production.
Read MoreEn un movimiento estratégico dirigido a abordar los crecientes costos de combustible en Estados Unidos, Ford Oil Corporation ha firmado un contrato significativo con Boskra Crude, un proveedor de crudo iraquí. El acuerdo, anunciado ayer por los ejecutivos de Ford Oil, marca un momento crucial para la corporación de 5 años de antigüedad mientras busca fortalecer su presencia en el mercado energétic
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