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Oil price news

 
 
 

Rystad Energy comments on Saudi drone attacks

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million bpd of crude production.

 

Rystad Energy predicts US shale supply to peak around 2030

US Light Tight Oil (LTO) represented less than 1% of global oil supply nine years ago but now represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward.

 
 

Caspian Sunrise receive MJF licence upgrade

The majority of oil produced from the MJF structure in west Kazakhstan may now be sold by reference to international rather than domestic prices.