HOUSTON, Oct. 8 (Xinhua) -- Crude oil production from the Organization of the Petroleum Exporting Countries (OPEC) will average 29.6 million barrels per day (b/d) in 2020, down by 2.3 million b/d from 2018, according to a report released Tuesday by the U.S. Energy Information Administra...
HOUSTON, Feb. 11 (Xinhua) -- The U.S. Energy Information Administration (EIA) on Tuesday forecast that the Organization of the Petroleum Exporting Countries (OPEC) will reduce crude oil production in 2020. In its February Short-Term Energy Outlook (STEO), the EIA expected OPEC to cut crude...
04 July, 2020 Source: IranOilGas.com According to the Dept. of International Affairs at National Iranian Oil Co. (NIOC), Iran sold its different types of crude oil to various markets in June 2020 at the prices listed in the following table (US$/Barrel):... ...
Europe's Brent crude oil, the U.S. WTI crude oil, and OPEC's basket are three of the most important benchmarks used by traders as reference for oil and gasoline prices. Lowest ever oil prices during coronavirus pandemic In 2020, the coronavirus pandemic resulted in crude oil prices ...
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Texas is by far the largest oil-producing state in the United States. In 2023, Texas produced a total of over two billion barrels. In a distant second place is New Mexico, which produced 667.5 million barrels in the same year. Virginia is the smallest producing state in the country, at ...
EIA expected that natural gas production will grow much less in 2020 because the delayed effect of low prices in the second half of 2019 will reduce natural gas-directed drilling in 2020. EIA reported that U.S. crude oil production averaged 11.8 million b/d in July (the most recent month...
In December 2024, the average price of one barrel of Brent crude oil was 73.86 U.S. dollars. This was the lowest figure in the past 24-month period. Lower oil demand in China and announcements that the OPEC were expecting to increase production led to this fall in prices. Brent terminolo...
Stressing the importance of commitment of the OPEC+ countries to the stability of the oil markets, he expressed hopes that "balance between supply and demand will continue in the coming period." In 2020, the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC countries, togethe...