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U.S. crude output to jump above 11 MMbpd sooner than expected

NEW YORK (Bloomberg) -- The U.S. government sees nationwide oil production jumping above 11 MMbpd much quicker than anticipated.

Wednesday, February 7, 2018
China surpassed the United States as the world’s largest crude oil importer in 2017

EIA -- China surpassed the United States in annual gross crude oil imports in 2017, importing 8.4 million barrels per day (b/d) compared with 7.9 million b/d for the United States.

Tuesday, February 6, 2018
Analysis: OPEC's success may be its own undoing, as oil market may overtighten

S&P Global Platts Analytics estimates that excess stocks of oil in storage have largely already drained and that the rebalancing is more or less complete, taking into account the growth in demand over the last three years and line-fill volumes required for new infrastructure builds.

Tuesday, February 6, 2018
IOOC chief: Iran Persian Gulf oil production to increase

Tehran, Feb 3, IDROOIL - director general of Iranian Offshore Oil Company (IOOC) said: After installing A20 and A21 platforms of Abouzar Field and starting oil drilling operation, the oil production in this offshore oil field will increase to 12,000 barrels per day.

Saturday, February 3, 2018
U.S. monthly crude oil production exceeds 10 million barrels per day, highest since 1970

U.S. crude oil production reached 10.038 million barrels per day (b/d) in November 2017, according to EIA’s latest Petroleum Supply Monthly. November’s production is the first time since 1970 that monthly U.S. production levels surpassed 10 million b/d and the second-highest U.S. monthly oil production value ever, just below the November 1970 production value of 10.044 million b/d.

Friday, February 2, 2018
oil production nears 47-year record as shale booms

LONDON, Feb 1 (Reuters) - U.S. crude oil production topped 10 million barrels per day (bpd) in November, according to monthly estimates published by the Energy Information Administration on Wednesday.

Thursday, February 1, 2018
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