EIA's Short-Term Energy Outlook forecasts WTI will average $52 in 2026 as low prices weigh down oil production.

The total number of active drilling rigs for oil and gas in the United States rose by 1 this week, according to new data that ...

U.S. October oil production increased by 31 kb/d to 13,870 kb/d, another new record high. The largest increases came from the ...

Petrobras and its partners have initiated oil production at the Búzios 6 project via the P-78 floating production, storage ...

RIO DE JANEIRO, Dec 18 (Reuters) - A gas leak at Petrobras' P-40 offshore oil platform in Brazil's Campos basin on Thursday has led to the preventive shutdown of production, the firm said in a ...

Platform Harmony, seen from the Gaviota Coast of Santa Barbara County, is one of three oil platforms owned by Sable Offshore Corp. The company plans to restart production, which has been shut down ...

Shale wells decline fast, forcing constant drilling—the “Red Queen” effect—with many losing 70–90% of output in three years. The IEA says global fields are depleting faster than thought, so most ...

The newest development is designed to produce up to 180,000 barrels of oil per day and 254.27 million cubic feet of gas per ...

Venezuela’s oil reserves could shift global supply, ease inflation and influence U.S. interest rates, energy security and ...

Ukrainian aerial drones struck a Russian oil platform in the Caspian Sea for the first time on Thursday, halting production at the facility owned by Lukoil, according to an ...

Sable Offshore has not completed all necessary steps to restart oil production locally a state regulator confirmed ...