Brent crude oil prices fell over a dollar on Friday, ending a run of rallies earlier in the week, after Opec said that its output surged in March, adding to a global glut.Opec said its March production jumped 810,000 barrels per day, to 30.79 million bpd which is equivalent…
Oil traded near the highest price this year amid speculation a slowdown in the US shale boom will ease the biggest supply glut since 1930.
Futures were little changed in New York after a 5.8 percent gain on Wednesday that capped a five-day rally.
Crude production declined by 20,000 barrels a…
Crude oil futures rose on Tuesday on signs of falling U.S. oil production, weakness in the dollar and tensions in the Middle East, particularly Yemen.North Dakota’s February oil production fell 15,000 barrels per day (bpd) versus January, data showed on Tuesday, although the number of producing wells hit a…
Lundin Petroleum has achieved first oil from the Bertram field in Malaysia.
The Swedish explorer said its subsidiary, Lundin Malaysia, has commenced production from four pre-drilled development wells.
The remaining production wells will be drilled sequentially and put onstream throughout the rest of the year.
Lundin said the field’s gross plateau is…
The latest Bank of Scotland’s report into the North Sea oil & gas industry presents a picture of optimism. It found that 92% of companies surveyed planned for growth over the next two years.
After weeks of reports of an industry apparently in irreversible decline, the report may seem to…
