Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.
Despite expectations, the recent geopolitical turbulence in the Middle East—especially the events of October 7, 2023, and the escalation between Israel and Iran—did not deliver a severe blow to global energy markets. Compared to past regional crises or major global shocks like the Russia–Ukraine war, the impact was surprisingly muted.
The total number of active drilling rigs for oil and gas in the United States fell yet again this week, according to new data that Baker Hughes published on Friday, following a 1-rig decrease in the week prior.
OPEC+ will make its August oil production decision on the fly during the upcoming July 6 meeting, Russia confirmed on Friday, suggesting there would be no pre-negotiating behind closed doors.
Crude oil prices began trading with a loss this week as traders anticipated another OPEC+ supply boost next month at a rate of 411,000 barrels per day, taking the cumulative increase this year to 1.78 million barrels daily, according to preliminary reports.
TotalEnergies has agreed to acquire the 25 % interest held by Moeve (formerly CEPSA) in Block 53 offshore Suriname, expanding its position in a basin the company already operates.
Colombian businesses are bracing for a deepening shortfall in natural gas supply that threatens to shutter some operations.
Supplies of gas are expected to fall at least 10% short of demand next year, compared with 5% currently, according to the commodities exchange. In a worst-case scenario, the shortfall could reach as high as 20%.
The number of rigs drilling for crude in the U.S. declined for the longest weekly streak in about five years as shale explorers shrugged off a recent jump in crude prices.
France’s TotalEnergies SE is in talks with at least two suitors who have submitted bids for its shale oil assets in Argentina, according to people familiar with the matter.
LNG imports into China, the world’s top buyer of the super-chilled fuel, continue to be weaker than the prior-year month for the eighth consecutive month in June, according to ship-tracking data from Kpler cited by Bloomberg.
China is on track to import about 5 million tons of LNG this month, per Kpler’s data. This volume, if confirmed, would be a 12% decline compared to June last year.