Oil price news

Petrobras announces that, in 2025, its oil production reached 2.40 million bpd, exceeding the upper limit of the target (+4%) set in its 2025 - 2029 Business Plan by 0.5 percentage points.

Michael Weidenfeller, Product Strategy Manager for Drilling and Mobile Power Applications, Caterpillar Oil & Gas, highlights how fuel-flexible dual-fuel engine technology is an important and reliable solution to reduce diesel consumption on oil and gas rigs.

Wood Mackenzie releases five charts that spotlight the most significant trends reshaping the sector globally.

The Energy Information Administration (EIA) announced plans to modernise its core short-term forecasting system.

A new discovery in the Pazan gas field in southern Iran has been made with 10 trillion ft3 of natural gas, Oil Minister Mohsen Paknejad said on Monday according to his ministry's news outlet Shana.

The US Energy Information Administration (EIA) forecasts in its October Short-Term Energy Outlook (STEO) that US crude oil production will average 13.5 million bpd in both 2025 and 2026, both slightly higher than the agency’s September forecast.

The OPEC+ group, comprising eight countries, has agreed to augment its production.

The US Energy Information Administration (EIA) expects recent developments in global trade policy and oil production to contribute to lower global demand growth for petroleum products through 2026.

Markets respond to US ‘Liberation Day’ and recent OPEC+ meeting.

Corrosion in oil and gas tubing systems costs over $1 billion annually (source: NACE). Common types like pitting and crevice corrosion can be mitigated with proactive identification and appropriate solutions, preventing costly damage to fluid systems.