OPEC increased its forecast for global oil demand in the first quarter substantially, as some of this year’s recovery is delayed by Omicron but the overall risk from the new virus strain remains limited. SourceContinue Reading

Mexico could slash Pemex’s taxes further as the world’s most indebted oil company scrambles to reverse long-term oil production declines. SourceContinue Reading

Saudi Arabia’s energy minister warned traders against shorting oil prices, saying OPEC+ could react quickly to any fall in prices. SourceContinue Reading

Halliburton Co. denied reports that it’s in talks to buy Exxon Mobil Corp.’s stake in the huge West Qurna-1 oil field in southern Iraq. SourceContinue Reading

Saudi Arabia’s finance minister echoed warnings from the kingdom’s oil officials that a slowdown in fossil-fuel investment globally will cause spikes in energy prices. SourceContinue Reading

Halliburton Co. and Exxon Mobil Corp. are in talks over the latter’s attempt to sell a stake in the huge West Qurna-1 oil field in southern Iraq, according to the country’s energy minister. SourceContinue Reading

It’s been almost three weeks since the U.S. unveiled an internationally coordinated release of oil from national reserves, but so far there’s been little follow through from the other five nations. SourceContinue Reading

The first oil from President Joe Biden’s release from the country’s emergency crude reserves is being granted to Exxon Mobil Corp. SourceContinue Reading

The budget bill for Iran’s next calendar year is based on an oil price of $60 a barrel, up from $40 this year, the semi-official Fars news agency reported. SourceContinue Reading

Oil driller Hilcorp Energy Co. is lavishing $75,000 bonuses on employees as reward for reaching multi-year expansion and production goals. SourceContinue Reading