Energy

Oil Prices Plummet to Multi-Month Lows as Trump Tariffs, OPEC+ Output Hike Fuel Demand Fears

Oil prices extended losses on Friday, heading for their worst weekly decline in months, as U.S. President Donald Trump’s sweeping tariffs and OPEC+’s accelerated production increases deepened concerns over a global economic slowdown and oversupply. Price Movements (as of 0157 GMT): Brent Crude (LCOc1): Fell 0.4% to $69.83/barrel, on track for its steepest weekly drop […]

OPEC+ Set to Approve May Output Hike Amid Compensation Talks

OPEC+ ministers will convene virtually on Thursday and are expected to greenlight a 135,000 barrel-per-day (bpd) production increase for May, continuing their phased plan to unwind pandemic-era supply cuts, according to sources within the group. The move marks the second consecutive monthly output hike under a strategy to gradually restore 5.85 million bpd of halted […]

Russia Shutters Key Kazakh Oil Export Terminal Amid OPEC+ Dispute, Threatening Global Supply

Russia has ordered the closure of two moorings at the Caspian Pipeline Consortium (CPC) terminal, a critical hub for Kazakhstan’s oil exports operated by U.S. giants Chevron and ExxonMobil, escalating tensions over Kazakhstan’s repeated breaches of OPEC+ production quotas. The move could slash CPC’s export capacity by over 50% if prolonged, risking disruptions to 1% […]

Permian Basin Nears Peak Oil Output as Water, Gas Challenges Mount; Industry Eyes 2030 Decline

The Permian Basin, the cornerstone of the U.S. shale boom, is approaching peak oil production as aging wells yield rising volumes of water and gas alongside declining crude output. Despite record production of 6.5 million barrels per day (bpd), geological constraints and escalating costs threaten long-term growth, with industry leaders predicting a plateau by 2027–2030. […]

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