Analysts say that US shale oil production could drop by 400,000 barrels a day if the price of a barrel drops to $40.
According to Jarand Rystad, CEO of Rystad Energy, U.S. shale oil production could drop by up to 400,000 barrels per day in the year 2026 if OPEC tries to gain market share. Rystad, a representative of OPEC, said that the U.S. shale oil production could stay flat if prices remain close to $60 a barrel. However, this would require OPEC members?to maintain production levels at current levels. Rystad said at the conference that "for 2026, we see a flat growth of shale if OPEC takes a more aggressive stance to bring back volumes." Last year…
Diamondback Energy reports lower oil prices in the fourth quarter
Diamondback Energy, the U.S. producer of shale oil, announced on Monday that its oil prices were lower in 'the fourth quarter' compared with 'the previous three months. The price of oil fell 9.2% in the three-month period ending December 31 as fears about tariffs and oversupply outweighed geopolitical risk. The average realized price, or 'price received' for the total production of oil, fell to $58.00 a barrel during the fourth quarter, down from $64.60 a barrel over the previous three-month period.
Trump's "drill baby, drill" agenda in Venezuela hurts producers at the home
Trump wants $50 oil but it's below the profit level of U.S. Venezuelan oil redirected to squeeze U.S. Venezuelan oil to benefit U.S. HOUSTON, January 9 - U.S. Oil Producers already struggling with low oil prices face renewed pressure as President Donald Trump presses them to increase output in Venezuela – a move which would weaken oil markets, reduce revenues and hurt the industry at home. Trump's policies, he claims, will unleash American energy while lowering prices at the pumps. This promise would benefit U.S.
EOG Resources: Higher Venezuelan output and oversupply are weighing down on shale oil prices
Ann Janssen, finance chief at EOG Resources, said that on Wednesday oversupply from Venezuela and possibly higher production are pushing down oil prices. This trend is likely to continue for several more quarters. Brent crude futures fell about 0.6% to $60.30 per barrel as investors reacted after U.S. president Donald Trump announced that his country had "reached an accord" to import up $2 billion of Venezuelan crude. This move is expected to increase supplies to the?largest consumer of oil in the world.
Bousso: The geopolitical premium of oil in the ROI vanished by 2025 and is unlikely to return.
In 2025, the global oil markets were faced with multiple black swans events - such as the Israel-Iran War and Ukrainian attacks on Russian refiners. Yet they were barely affected. In an era when energy is abundant, this calm could be the new norm. The year 2025, by any measure, was chaotic in geopolitics, with President Donald Trump's return to his White House and his flurry of trade, diplomatic and policy initiatives dominating the year. On June 12, Israel attacked military, government, and nuclear sites in Iran.
OPEC data show that Russian oil production increased in November.
OPEC data on Thursday showed that Russian oil production increased in November by 10,000 barrels per day, up from October. This was after the OPEC+ group agreed to a moderate increase in output quotas. OPEC+ (which includes the Organization of the Petroleum Exporting Countries, Russia, and some smaller producers) has increased their?oil production targets by over 2.7 million bpd in this?year. This is equivalent to around 2.5% of the global demand.
Sources say that RPT-Gunvor is weighing the US energy push, which could strengthen Washington ties.
Sources familiar with the situation said that Gunvor, a commodity trader, has been in active discussions to invest into U.S. oil and gas producing assets. This could help to repair relations with the Trump Administration after the fallout of Gunvor's attempt to purchase the foreign assets of the sanctioned Russian company Lukoil. Gunvor dropped its offer to purchase Lukoil assets after the U.S. Gunvor was interested in increasing its U.S.
Gunvor considers US energy push, which could strengthen Washington ties
Sources familiar with the situation said that Gunvor, a commodity trader, has been in active discussions to invest into U.S. oil and gas producing assets. This could help to repair relations with the Trump Administration after the fallout of Gunvor's attempt to purchase the foreign assets of the sanctioned Russian company Lukoil. Gunvor dropped its offer to purchase Lukoil assets after the U.S. Gunvor was interested in increasing its U.S.
Occidental Petroleum predicts flat production and lower spending in 2026
Occidental Petroleum, an oil and gas company, said Tuesday that it expects a flat growth in production and lower spending than the current year levels by 2026 as crude prices fall. The U.S. shale oil producers are coping with a global oil crisis, as prices remain in the $60 per barrel range. This is due to OPEC+ production increases and a slowing of global demand. Benchmark Brent crude prices have fallen by about 12.7% this year. Sunil Mathew…
Occidental Petroleum exceeds profit forecasts for the quarter on higher production
Occidental Petroleum surpassed Wall Street's expectations for the third quarter profit on Monday as higher production helped U.S. shale oil producer to counter lower oil prices. The U.S. produced more oil and gas in August than ever before, despite Brent crude falling by over 13% during the period reported due to OPEC+'s increased supply and a slowing of global demand. Occidental reported a quarterly average of global production of 1,46 million barrels equivalent per day (MMboepd), an increase from the 1.41 MMboepd ayear earlier.
EOG, a producer of shale oil and gas, has topped profit forecasts as production increases
EOG Resources surpassed analysts' expectations for the third quarter profit on Thursday as higher production helped offset a decline in crude prices. Benchmark Brent crude dropped more than 13% from the previous quarter, but the company saw a boost in production as it expanded into the Utica and Marcellus region following its $5.6 Billion deal with Encino Acquisition Partners. EOG's production of 1.3 million barrels per day increased from 1,08 million boepd in the previous quarter.
ConocoPhillips lifts dividend, raises output forecast after profit beat
ConocoPhillips increased its quarterly dividend on Thursday and raised its full-year production projection after posting earnings that were above expectations in the third quarter, thanks to lower costs and higher output which offset weaker oil price. In premarket trading, shares of the United States' largest independent oil and natural gas producer rose by 1.5%. The company's efforts to streamline operations, cut costs and save more than…
North Dakota oil production likely to increase in September, but will continue on a downward trend for the long term, says regulator
North Dakota's oil production will likely have increased slightly in September, but it is still on course to decline in the long term due to natural decline of the wells. North Dakota has the Bakken oilfield. This massive shale oil field helped the U.S. become the largest oil producer in the world. The Bakken oilfield is undergoing a consolidation wave and its wells have reached maturity, affecting production in the state that produces the most oil.
Sinopec finds new shale-oil reserve in Southwest China
Sinopec, China's state owned oil company, announced on Thursday that it had discovered a new reserve of shale in the southwest Sichuan Basin. Sinopec Exploration Company said that the exploratory well Qiluye 1 drilled in Chongqing's Qijiang district found a shale reserve in the Sichuan Basin with an estimated resource of more than 100 million metric tonnes, or approximately 730 million barrels. According to a press release from the company…
Bloomberg News reports that Exxon Mobil will cut 2,000 jobs as part of a restructuring.
Bloomberg News reported that Exxon Mobil, a U.S. energy giant, will lay off 2,000 employees globally as part a long-term reorganization plan. This is the latest in a series of job losses this year within the oil and gas sector. The report cited a memo sent by CEO Darren Woods, which stated that the reductions represented between 3% and 4% of global staff. After purchasing Pioneer Natural Resources for $60 billion in 2024, the shale gas producer has been streamlining operations.
PetroChina says it has added 1.15 billion barrels to its shale oil reserves at a pilot project.
PetroChina proved another 158 millions metric tons of shale-oil reserves, or approximately 1.15 billion barrels in a northeast China pilot project, Chinese state media reported Friday. State television reported that the Daqing project in Heilongjiang Province, northeast China, covers an area of 2,778 sq km and pumps 3,500 tons or 25,550 barrels per day. The project began testing production in 2022 and is one of several pilot shale-oil projects…
Oilfield executives sour in Dallas Fed survey
According to a Federal Reserve Bank of Dallas survey published on Wednesday, oil and gas production in Texas, Louisiana, and New Mexico, the three states that produce the most, declined in the third-quarter as executives expressed a more negative outlook. The decline in oil and gas activity is due to the uncertainty surrounding oil prices, as well as increased frustration towards President Donald Trump and his administration. The executives blamed Trump policies such as tariffs, and his promise to lower oil price, for the decline in activity.
Interior secretary: US wants to strengthen energy ties with Greece
Interior Secretary Doug Burgum told reporters in Athens that the U.S. is looking to strengthen its energy relations with Greece. This comes as the Trump Administration works to reduce Russia's gas and oil supplies to Europe. Burgum was in Europe this past week to sign energy deals that the U.S. believes will increase its influence in Europe while reducing Russia's. Greece announced on Wednesday that a consortium, including the oil giant Chevron, had bid for exploration of natural gas in their waters.
Interior secretary: US wants to strengthen energy ties with Greece
U.S. officials say that the United States is looking to strengthen its energy relations with Greece. While visiting Athens, Interior Secretary Doug Burgum stated that the Trump administration is working to further reduce Russia’s oil and natural gas supplies into Europe. Burgum was in Europe to sign energy deals that the U.S. hopes can strengthen their influence in the area while weakening Russia’s. Greece announced on Wednesday that a consortium, including the oil giant Chevron, had bid for exploration of natural gas in their waters.
Crescent Energy acquires Vital Energy for $3.1 billion in a shale gas deal
Crescent Energy, a U.S. shale oil producer, announced on Monday that it will acquire Vital Energy for $3.1 billion in stock and debt. The deal shows how some U.S. firms are seeking scale in a period when mergers and purchases in the shale sector slowed down in the second quarter because of volatility in energy and equity markets. Vital shareholders receive 1,9062 Crescent common shares for every share they hold. This represents an offer valued at 18.95 dollars per share, and a 20% premium based on last day's close.