By 2024, well drilling costs in the United States are set to fall by 10%, underpinned by significant efficiency gains despite stable oil service prices.
By 2024, well drilling costs in the United States are set to fall by 10%, underpinned by significant efficiency gains despite stable oil service prices.
Mexico could have to import oil as early as 2030, despite the new Zama and Trion fields.
Foreign partnerships could become essential to stabilize energy production.
Mexico could have to import oil as early as 2030, despite the new Zama and Trion fields.
Foreign partnerships could become essential to stabilize energy production.
Venezuela awards oil contracts to Anhui Erhuan Petroleum Group and Kerui Petroleum, strengthening its international alliances ahead of the presidential elections.
Venezuela awards oil contracts to Anhui Erhuan Petroleum Group and Kerui Petroleum, strengthening its international alliances ahead of the presidential elections.
YPFB has begun new drilling in the Tarija department to explore the hydrocarbon potential of the Chorro and Tupambi formations, aiming to reverse a decade of declining production.
YPFB has begun new drilling in the Tarija department to explore the hydrocarbon potential of the Chorro and Tupambi formations, aiming to reverse a decade of declining production.
Russia is approaching its crude oil production quota under the OPEC+ agreement, said Alexander Novak.
However, challenges remain in meeting the reduction targets.
Russia is approaching its crude oil production quota under the OPEC+ agreement, said Alexander Novak.
However, challenges remain in meeting the reduction targets.
Iraq, Russia and Kazakhstan have pledged to cut production by 2.284 million b/d by September 2025 to offset overproduction, according to OPEC.
The cuts will be staggered and vary on a monthly basis.
Iraq, Russia and Kazakhstan have pledged to cut production by 2.284 million b/d by September 2025 to offset overproduction, according to OPEC.
The cuts will be staggered and vary on a monthly basis.
U.S. crude oil inventories continue to fall, dropping by 3.7 million barrels last week, exceeding analysts' expectations.
This decrease comes despite a reduction in US refinery activity.
U.S. crude oil inventories continue to fall, dropping by 3.7 million barrels last week, exceeding analysts' expectations.
This decrease comes despite a reduction in US refinery activity.
