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Tag Archives: oil production

Oil falls as OPEC production stays high, dollar rises

LONDON – Crude oil prices dropped on Monday as the dollar rose and on expectations that OPEC production would remain high, stoking worries of oversupply despite declining U.S. rig operations. The Organization of the Petroleum Exporting Countries (OPEC) pumped at a two-and-a-half year high of 31.22 million barrels of oil per day (bpd) in May, a Reuters monthly survey showed. ...

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Alberta wildfires burn for 6th day, 10 pct of oil sands crude offline

CALGARY, Alberta – Firefighters battled wildfires in northern Alberta, Canada’s biggest crude-producing region, for a sixth day on Thursday, with two blazes near oil sands facilities still out of control. The wildfires have forced producers in the Western Canadian province, the largest source of U.S. crude imports, to shut in 233,000 barrels per day of crude production, around 10 percent ...

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NYMEX – Crude oil futures steady as firm demand meets ample supply

SINGAPORE – U.S. crude was steady early on Tuesday as firm demand supported prices and ample supply dragged. Robust demand in Asia as well as from the driving season in the United States is being met by near record output, especially from the Organization Of Petroleum Exporting Countries (OPEC), although U.S. production seems to have been peaked, at least temporarily. ...

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