OPEC+ Boosts Oil Output Sharply Amid Iran War Escalation
OPEC+ has announced a significant increase in oil production quotas following escalating tensions in the Middle East due to U.S. and Israeli strikes on Iran.
Russia has enough oil to last 60 years – deputy PM
Deputy Prime Minister Aleksandr Novak announced that Russia's recoverable oil reserves could sustain the country's output for over 60 years.
Drone strike on Druzhba hub in Tatarstan reportedly forces Russia to curb oil flows
A drone strike on the Kalyeykino pumping station in Tatarstan has led Russia to reduce its oil output by 250,000 barrels per day.
Vaca Muerta drives a new oil record and already represents 68% of production
Vaca Muerta's oil production reached a record of 882,200 barrels daily in January, now accounting for 68% of Argentina's total output.
US vows to drive ‘dramatic increase’ in Venezuelan oil output
US Energy Secretary Chris Wright has pledged to dramatically increase Venezuelan oil output following his meeting with interim leader Delcy Rodríguez.
Repsol aims for a historic jump in its oil production in Venezuela with its promise to Trump
Repsol seeks to significantly increase its oil production in Venezuela, currently small compared to its natural gas output, following a commitment to Donald Trump to 'triple' crude extraction in the country.
Chris Wright: 'Trump now controls all oil sales from Venezuela'
U.S. Energy Secretary Chris Wright states that Trump is demanding $100 billion from oil companies to revive Venezuelan oil production, which may take up to 12 years to reach its maximum output again.
Senegal's 2025 oil output exceeds predictions to reach 36.1 million barrels
Senegal's oil output for 2025 has reached 36.1 million barrels, surpassing its initial prediction of 30.53 million barrels due to successful reservoir responses and operational performance.
Venezuelan oil company will request a reduction in crude production
Venezuela's state oil company PDVSA plans to ask joint venture partners to reduce crude oil output due to rising inventories and limited diluent supplies amid an ongoing U.S. maritime blockade.