oil production

Saudi oil output jumps by a third, OPEC report shows

Saudi Arabia told OPEC it pumped 8.372 million barrels per day (bpd) in September. That is up from 6.238 million bpd in August, a gain of more than 2 million bpd, and the largest increase anywhere in the OPEC+ alliance.…

Hurricane Isaias shuts in nearly 63% of Gulf oil output

Offshore producers have stopped about 1.3 million barrels per day of oil output ahead of Hurricane Isaias. That is 62.9% of current Gulf of Mexico production as of Thursday, according to the US Marine Minerals Administration. The storm is forecast…

OPEC+ holds oil output steady for November amid Iran war

Seven core OPEC+ members agreed on Sunday, October 4, to leave oil production targets unchanged for November. It is the second month in a row the group has held steady, as the U.S.-Israeli war on Iran keeps disrupting Gulf exports…

Iraq pushes for 6M barrel-per-day baseline in OPEC+ review

Iraq is pushing for a major increase to its oil production quota, requesting that OPEC+ calculate future targets from a baseline of 6 million barrels per day, according to a Bloomberg News report on Wednesday. The request comes as the…

OPEC+ expected to hold oil output steady for October

OPEC+ is likely to keep its oil output policy unchanged for October at a meeting on Sunday, three sources close to the matter told Reuters, as the producer group pivots from months of quota increases to a period of consolidation…

Venezuela signs oil deals with SLB and Hunt Oil

Venezuela signed oil contracts with two U.S. companies on Tuesday in Houston, as the South American nation pushes to attract foreign investment and raise crude production amid surging global oil prices.

ADNOC sells 94M barrels since June as UAE’s post-OPEC oil push accelerates

The United Arab Emirates formally withdrew from OPEC and OPEC+ on May 1, 2026, ending nearly 59 years of membership in the oil producers' cartel and freeing the Gulf state to pursue an aggressive production expansion without quota constraints. In…

Kuwait oil output hits highest level since Iran war

Kuwait's crude oil production climbed nearly 20% in July to approximately 1.971 million barrels per day, marking the highest output level since the start of the Iran war, according to Bloomberg. The increase of roughly 300,000 barrels per day from…

Iraq signs Halliburton deal to develop two Basra oil fields

Iraq's state-owned Basra Oil Company signed a five-year joint management contract with Halliburton on Sunday to develop two oil fields in southern Basra province, as Baghdad pushes to expand production capacity amid a simmering dispute with OPEC over output quotas.

Karachaganak oil output restored after drone strike

Oil production at Kazakhstan's Karachaganak field has been restored following disruptions caused by a Ukrainian drone attack on June 24 that struck the Orenburg gas processing plant in southern Russia, according to Reuters. The field, jointly operated by Eni and…

Kuwait lifts force majeure, targets 2M barrels per day within a week

Kuwait has begun ramping up oil production and expects to reach 2 million barrels per day within a week, as the reopening of the Strait of Hormuz under an interim U.S.-Iran peace deal allows the Gulf state to restart exports…