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U.S. Projects Oil Output to Fall Nearly 2 MMbbl/d, Driven by Free Market

2020-04-08 15:31:45| OGI

U.S. oil companies are expected to reduce oil output temporarily by nearly 2 million barrels per day (MMbbl/d) as lower crude prices force companies to cut back operations, the U.S. Energy Department said on April 7.

Tags: free market fall projects

 

Oil Exploration Activity Falls in Norway, Output Maintained

2020-04-08 15:11:49| OGI

Companies operating on the Norwegian Continental Shelf, including Equinor, Aker BP and Lundin Energy, have already announced capital spending and exploration cuts to save cash.

Tags: activity maintained oil output

 
 

IEA: Deep Oil Output Cuts Wont Offset Unprecedented Demand Loss

2020-04-06 11:10:00| OGI

Even with output cuts of 10 million bbl/d, the equivalent of 10% of global supply, oil inventories would still rise by 15 million bbl/d in the second quarter, IEAs Fatih Birol says.

Tags: loss deep oil output

 

Exxon Mobil: Oil Price Fall Not Impacting Guyana Output

2020-04-03 15:01:39| OGI

Production at the offshore Liza well  is expected to reach some 120,000 barrels per day in its first phase.

Tags: price fall oil output

 

Column: US Oil Output Set to Plunge as Storage Fills

2020-04-02 16:30:58| OGI

Adjustment to low prices will be much faster than in the past.

Tags: set storage oil output

 

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