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Barrels

The US already produces 40% more oil than Saudi Arabia, and the gap continues to widen. This situation, which seemed unimaginable less than 10 years ago, has become a reality thanks to the success of fracking (hydraulic fracturing) and shale oil (shale oil) in the United States. The American nation…
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Venezuelan oil exports drop in April

Venezuela registered an average oil production of 420,000 barrels per day in April, some 410,000 barrels per day less than the goal established by PDVSA, which projected some 830,000 barrels per day of production for last month. According…

Commercial crude oil reserves in the US increase

The US Energy Information Agency (EIA) announced that commercial oil reserves in the United States increased by 9.4 million barrels; however, gasoline storage suffered a sharp decrease equivalent to 3.6 million barrels, while distillate…

Oil demand will drop to 20 million barrels a day

The crisis generated by the pandemic will cause global oil demand to sink to 20 million barrels per day during the month of April, according to calculations by the Organization of the Petroleum Exporting Countries (OPEC). In its monthly…

Venezuelan oil production fell 4% in July

Despite the resounding fall, in recent months it has stabilized around a pumping of about 700,000 barrels per day (bd). The data were incorporated into the monthly report released in Vienna by the Organization of Petroleum Exporting…