oil

cubaCuba, Venezuela and Iran Oil Problems Under US Sanctions

Iran dropped 154,000 bpd to 2.554 million bpd in April. Iraq dropped 113,000 bpd to 4.63 million bpd. Saudi Arabia had 45,000 bpd less oil in April at 9.742 million bpd. Venezuela had a slight increase of 28,000 bpd to …

energyIn 2025 the USA Could Produce More Oil Than Saudi Arabia and Russia Combined

The US Energy Information Agency Annual Energy Outlook high projection for oil and natural gas liquids would be 24 million barrels per day by 2025. Russia and Saudi Arabia should have combined production of about 20-24 million barrels per day.

economic impactFuture is US Oil and Gas and Using Oil for Plastics

By 2025, Texas oil production will double and US and gas production will increase by around 50%. Enterprise Partners forecasts that Texas will surpass 10 million barrels per day of crude oil production by 2025 from the Permian and Eagle …

energyUS Oil and NGL Could Be More than Saudi Arabia and Russia By 2025

The US Energy Information Agency had its Annual Energy Outlook for 2019. The middle projection is for the US to reach 15 million barrels per day of oil production. This would be more than Saudi Arabia and Iraq combined. Infographic …

energyTexas Oil Production Could More than Double by 2025 and Surpass Saudi Arabia

ExxonMobil revised its Permian Basin (Texas and New Mexico) growth plans to produce more than 1 million oil-equivalent barrels per day by as early as 2024 – an increase of nearly 80 percent and a significant acceleration of value. Exxon’s …

energyVenezuela’s Oil Collapse Makes it Expensive for Russia and Cuba to Prop up Maduro

Venezuela’s oil production has dropped by 40% since the end of 2018 and is now one-third of its 2012-2014 level. OPEC says Venezuela only produced 960,000 barrels per day in March. This is down from the 1.4 to 1.5 million …

energyWorld of Oil Will Be Dominated By a Second US Shale Wave for 5 Years

The World of Oil will be dominated by a second wave of US Shale oil according to the International Energy Agency (IEA). The United States will be the source of 70% of the total increase in global capacity to 2024 …

energyTexas Sets New Record for Oil Production

The Texas Independent Producers & Royalty Owners Association (TIPRO) reported oil production in Texas totaled a record 1.54 billion barrels (bbl) in 2018 which surpassed a previous record of 1.28 billion bbl set in 1973. If Texas were a country …

futureUS Treasury Will Block $7 Billion in Assets from Venezuela’s Oil Company

The U.S. Treasury will block $7 billion in assets of Venezuela’s state-run oil firm PDVSA. The Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated Petroleos de Venezuela, S.A. (PdVSA) pursuant to Executive Order (E.O.) 13850 for …