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EIA downgrades forecast for Azerbaijan’s oil production in Q2

The US Energy Information Agency (EIA) has cut its forecast on Azerbaijan’s daily oil production for the second quarter, Report informs, citing “Short-Term Energy Outlook – June…

EIA changes Azerbaijan’s Q2 oil production volume forecast

The US Energy Information Administration (EIA) has changed its forecast for Azerbaijan’s average daily oil production for the second quarter of 2021, Report informs, referring to Short-Term…

EIA Raises Oil Price Forecasts Again

The U.S. Energy Information Administration (EIA) has again raised its Brent and West Texas Intermediate (WTI) oil price forecasts for both 2021 and 2022. As…

US Increases Forecast for Oil Production in Azerbaijan for 2021

The Energy Information Administration of the US Department of Energy (EIA) has increased forecastsfor oil production in Azerbaijan for 2021 and 2022 by 0.04 million…

EIA decreases previously forecast oil extraction volume in Kazakhstan for 2020

Kazakhstan will produce 2.02 million barrels of oil and other liquids per day in 2020, Trend reports with reference to the March Short-term Energy Outlook (STEO) of…

EIA revises up forecasts for Turkmenistan’s oil production

Turkmenistan is expected to produce 0.25 million barrels of petroleum and other liquids per day as of 2020, the US Energy Information Administration (EIA) said…

IEA: Gas analysis and forecasts to 2024

After another record year, global demand for natural gas is set to keep growing over the next five years, driven by strong consumption in fast-growing…

Nearshore works for TurkStream start

On Sunday 22 July, nearshore works started for the TurkStream Offshore Gas Pipeline near the Turkish town of Kiyiköy. The nearshore component in Turkey involves constructing seabed trenches for…

Chevron says Climate Change fallout no quick threat to oil

Climate change is critical to future energy markets but its effect on Chevron Corp.’s oil and gas business will be minimal for decades to come,…

Oil up on strong demand, Saudi comments

Oil rose on Monday, hitting three-week highs, supported by strong U.S. demand and comments from Saudi Arabia that it would continue to curb production in…

USA to become world leader in oil and gas production by 2040

In general, world oil demand will grow during most of the forecast period, but it will stabilize closer to its end. The entire growth in…

United States reduces oil imports by 11%

In the week of February 10-16, daily oil imports in the US fell by 867,000 barrels, or 11%, to 7,021 million barrels/day. In the annual…

U.S. active oil rigs count sharply increased

The number of active oil wells in the United States increased by 26 units (3.4%) during February 3-9 and amounted to 791. Report informs citing the…

EIA Revises Forecast for Oil Production in Azerbaijan

Oil and condensate production in Azerbaijan will be 0.79 million barrels per day in 2018. According to EIA forecasts, published in the February review of…

Citigroup: Oil price will gradually decline this year

The correction of oil prices in the world market continues and there is potential for further price cuts. Report informs, the US’s Citigroup analysts said. According…

Oil production in US exceeds 10 mln b/d for first time since 1970

In November 2017, the US increased oil production to more than 10 million barrels per day (b / d) for the first time since 1970,…

Why does oil hit $71?

Oil hit $71 a barrel on Thursday for the first time since 2014, supported by OPEC-led supply curbs, a record-breaking run of declines in U.S….

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