The IEA Predicts a 6% Increase in Gas Production in Russia in 2024
It could reach 675 billion cubic meters. Gas production in Russia in 2024 could grow by almost 6% and amount to 675 billion cubic meters, follows from the report of the International Energy Agency (IEA) on the gas market. This forecast is higher than the organization’s previous estimate of 670 …
Innovation Effect? US Oil Production Exceeds Forecasts
The United States, against the backdrop of a decline in production by OPEC+ countries, increased oil production compared to forecasts a year ago. Bloomberg reported this on December 17, 2023. Shale producers vs OPEC+ Abstracts of the publication: OPEC’s former foe, the US shale industry, is rearing its head just …
Russia Reduced Gas Production Over 10 Months by 9.6%
It amounted to 430 billion cubic meters. m, follows from Rosstat data Russia in January – October 2023 reduced natural gas production by 9.6% compared to the same period of the previous year, to 430 billion cubic meters. m. This follows from Rosstat data. In particular, gas production in October …
Russia Kept Oil Production in August at July Levels
It amounted to 9.48 million b/d Russia maintained oil production in August 2023 at the level of the previous month – 9.48 million barrels per day (b/d), according to a report by the International Energy Agency (IEA). At the same time, the Russian Federation’s revenues from oil exports, according to …
IEA Forecasts Oil Production Growth in Azerbaijan in 2024-25
The International Energy Agency (IEA) predicts an increase in oil production in Azerbaijan in 2024-2025 to 570,000 barrels per day (bpd). The IEA told Interfax-Azerbaijan that according to the agency’s estimates, in 2023 oil production in the country will amount to 520,000 barrels per day. In 2024, production will increase …
Rystad Energy: Oil Falls on IEA, OPEC Projections and as US Crude Stocks Seen Building
When the trajectory of the oil market’s supply tightness is being challenged by both the IEA and OPEC, it’s difficult for the trading mood to not turn bearish. Prices are falling on forecasts that the world may see oil surpluses again from as early as next month, if OPEC expectations …
GECF Amplifies Role of Natural Gas at OLADE Ministerial Meeting
Upon an invitation of the Latin American Energy Organization (OLADE), the Gas Exporting Countries Forum (GECF) participated in its 50th jubilee Meeting of Ministers, dedicated to the topic “The energy sector during the crisis and its role in a post-pandemic economic recovery” and held on 19 November via videoconference. The …
G20 Energy Ministers Strive for Sustainable Development and Market Stability
HE Yury Sentyurin, Secretary General of the Gas Exporting Countries Forum (GECF) participated in the G20 Energy Ministerial Meeting and reaffirmed its commitment to greater international cooperation in ensuring the resilience of energy systems and affordable and secure energy for all. The two-day deliberations acknowledged the unprecedented impact that the …