Global oil production fell by 1% in 2024 while demand continued to grow, widening the supply gap, OPEC reported.

According to the Energy Institute’s (EI) latest statistical review of world energy report, which was published recently, the ...

A portfolio manager pointed out a “unique” market development that could already be helping to tighten global crude ...

World crude oil and condensate (C+C) production increased by 524,000 barrels per day in February 2023, reaching a post-pandemic high. OPEC+ produced 58% of world oil C+C production in February ...

The United States has become the world's top producer of crude oil and petroleum liquids, averaging just under 22 million barrels per day to account for 22% of the world’s production in 2023.

Iran Production: 3.99 million barrels per dayIran ranks ninth in the world for oil production, and its total oil output grew from 3.66 million bpd in 2022 to 3.99 million barrels per day in 2023.

One principal reason for OPEC countries high oil production is that they have most of the world's oil reserves. According to OPEC, 80.4% of the world's proven oil reserves are in OPEC member ...

Oil output in Kazakhstan, one of the world's 10 biggest producing countries, returned to growth last month and matched an all ...

The U.S. led the world in oil production for the sixth straight year in 2023, according to the EIA. - An American and Texas flag stand in front of the Chevron Corp. Pasadena Refinery in Pasadena ...

The agency is more positive for oil’s short-term outlook than some other forecasters. The report predicts that world demand will jump by a strong 2.4 million barrels a day in 2023, a modest ...