Saudi Arabia

U.S. Oil Output Expected To Surpass Saudi Arabia

By OG Market Report   Posted in Production
Posted on
US oil production to pass Saudi Arabian

Rivaling Russia for the title of leader in oil production, the United States is expected to surpass Saudi Arabia in output, a country who has long been one of the world’s biggest producers of crude. According to The Wall Street Journal, “Boosted by a resurgent shale industry, U.S. crude production will likely climb above 10 …

OPEC Agreement Adds To ‘Trump Rally’

By OG Market Report   Posted in Finance Highlighted E&P Companies Oil Prices Oil Stocks
Posted on

Oil prices soared nearly 10% on news that OPEC has reached a much anticipated agreement to reduce output by 1.2M barrels per day, bringing the total daily production to 32.5M bpd. The agreement, which was announced Wednesday at 11:00am EST, is contingent on a reduction of production by 600,000 bpd from non-OPEC countries, with Russia …