Opec-Plus

U.S. Crude Production Steady But Off 2023 Peak; Russia Pulls Back

U.S. Crude Production Steady But Off 2023 Peak; Russia Pulls Back

American exploration and production firms’ (E&P) continued to drive oil output at strong levels over the last two weeks, though activity slipped from the highs of the year. E&Ps generated 12.2 million b/d for the week ended March 10, even with the prior week, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status…

March 15, 2023
American E&Ps Maintain Pandemic-Era Peak Oil Production; Inventories Mount

American E&Ps Maintain Pandemic-Era Peak Oil Production; Inventories Mount

U.S. crude output last week held at robust levels as American exploration and production (E&P) companies remained active to bolster domestic supplies and help meet global demand. E&Ps generated 12.3 million b/d for the week ended Feb. 24. That was on par with the highest level since March 2020, when the pandemic was declared. U.S.…

March 1, 2023
American Oil Producers Keep Output Elevated; IEA, OPEC Ramp Up Demand Forecasts

American Oil Producers Keep Output Elevated; IEA, OPEC Ramp Up Demand Forecasts

U.S. crude production held firm at a pandemic-era high as new forecasts called for rising global demand tied to an expected surge in Chinese travel fuel consumption. American producers generated 12.3 million b/d for the week ended Feb. 10, on par with the prior week and the high mark of the past nearly three years,…

February 15, 2023
U.S. Oil Production Reaches New Pandemic-Era High, Contributes to Natural Gas Gains

U.S. Oil Production Reaches New Pandemic-Era High, Contributes to Natural Gas Gains

Domestic crude production climbed to the highest level since 2020 as demand for petroleum products pushed ahead last week, the U.S. Energy Information Administration (EIA) said Wednesday. American producers generated 12.3 million b/d for the week ended Feb. 3, up by 100,000 b/d from the prior week, data from EIA’s latest Weekly Petroleum Status Report…

February 8, 2023
Domestic Crude Production Holds Strong; OPEC-Plus Advisers Stick With Output Cuts

Domestic Crude Production Holds Strong; OPEC-Plus Advisers Stick With Output Cuts

U.S. oil producers remained active through January, with output last week holding at a pandemic-era high as it did across the month and in late 2022. The U.S. Energy Information Administration (EIA) said Wednesday production for the period ended Jan. 27 stood at 12.2 million b/d – on par with the prior week and the…

February 1, 2023
Domestic Crude Production Flat as Petroleum Demand Edges Higher

Domestic Crude Production Flat as Petroleum Demand Edges Higher

Demand for gasoline climbed last week and helped to drive a second consecutive gain in U.S. petroleum consumption, while oil production leveled off, new federal data show. The U.S. Energy Information Administration (EIA) said Wednesday overall demand for petroleum products for the period ended Dec. 16 climbed 5% week/week. The increase was driven by a…

December 21, 2022
U.S. Petroleum Demand Rebounds as Crude Production Slips; OPEC Urges ‘Caution’

U.S. Petroleum Demand Rebounds as Crude Production Slips; OPEC Urges ‘Caution’

Demand for jet fuel propelled a rebound in U.S. petroleum consumption last week, while production eased slightly from pandemic-era highs. The U.S. Energy Information Administration (EIA) said Wednesday overall demand for petroleum products for the week ended Dec. 9 rose 2% from the prior week, led higher by a 27% jump in jet fuel consumption…

December 14, 2022
With Russia, OPEC Output in Question, U.S. Crude Production Ramps Up

With Russia, OPEC Output in Question, U.S. Crude Production Ramps Up

Domestic oil production jumped back to the 2022 peak level as OPEC and its allies affirmed plans to slash production through the end of the year as fallout from Russia’s war in Ukraine and China’s pandemic woes continued to roil global markets. The U.S. Energy Information Administration (EIA) said Wednesday output for the period ended…

December 7, 2022
Domestic Oil Output Steady as Demand Flatlines Around Thanksgiving; OPEC-plus Mulls More Cuts

Domestic Oil Output Steady as Demand Flatlines Around Thanksgiving; OPEC-plus Mulls More Cuts

U.S. crude production held steady last week while demand ticked lower even amid Thanksgiving holiday travel. Oil prices pushed higher Wednesday, though gains developed prior to the government data release. Market speculation that OPEC and its allies could further slash production through this year and into 2023 propelled bulls. Brent crude prices hovered around $85/bbl…

November 30, 2022
U.S. E&Ps Step Up Oil Production as Demand Climbs, Recession Lurks

U.S. E&Ps Step Up Oil Production as Demand Climbs, Recession Lurks

Domestic crude production climbed notably last week, putting output near the 2022 peak, as U.S. demand accelerated and global market conditions tightened. The Energy Information Administration (EIA) said Wednesday that output for the week ended Nov. 4 climbed by 200,000 b/d from the previous week to 12.1 million b/d. That brought production close to the…

November 9, 2022
‹ Previous 1 2 3 7