By hellenicshippingnews US oil production may drop by at least 0.5-0.6mn b/d yoy (annual average) and by a further 0.5mn b/d in 2017 if oil prices failed to recover over $40/bbl prompt (or $50/bbl at the back-end of 2017) anytime soon, according to Abhishek Deshpande, Natixis. “We would expect producers in the US taking every […]

By hellenicshippingnews Iran's oil production has already surpassed 3.5 million barrels per day, the deputy oil minister said on Saturday, and the Islamic Republic is seeking to increase oil and gas exports in the coming month. “Iran's crude oil exports will increase to 2 million barrels per day in the coming month … Gas condensate […]

By hellenicshippingnews U.S. oil and gas companies have been hammered by collapsing crude prices, and now the banks that provide their lifeblood are under pressure to curb their lending to them. This month, the energy industry has entered a regular, twice-annual review period that will determine whether banks reduce their access to credit. The current […]

In 2015 Russian onshore drilling bucked global activity trends and reached record highs. Depreciation of the rouble cushioned the Russian oil industry incentivising operators to boost activity and p Read full story › Source:: Oil Voice