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Oil production

OPEC grapples with sliding oil prices

by Lily Jamali
May 10, 2023
The cartel releases its monthly oil market report on Thursday.
Despite the fact that OPEC nations cut oil production last month, oil prices are largely back to where they were in early April.
Joe Kalmar/AFP via Getty Images
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OPEC+ agrees to boost oil production. But probably not enough to lower prices.

by Justin Ho
Aug 3, 2022
The small increase of 100,00 barrels a day may be a sign that the cartel thinks a recession is coming.
By pledging to increase output by just 100,000 barrels a day, OPEC could be implying that it expects demand for oil to fall. Above, OPEC's headquarters in Vienna.
Joe Klamar/AFP via Getty Images
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Why OPEC might decide to take a break from its alliance with Russia

by Andy Uhler
Jun 1, 2022
Russia is the world's third-largest oil producer — such a decision won't be made lightly.
The relationship between Russia and the Organization of the Petroleum Exporting Countries has always been contentious.
Joe Klamar/AFP via Getty Images
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Domestic oil could increase supply, but it won't be cheap — or quick

by Andy Uhler
Mar 9, 2022
"The harsh reality for U.S. oil markets is that there is no switch that anyone can flip to suddenly turn on oil production overnight," one expert told us.
It might take six to nine months for domestic oil producers to substantially ramp up production.
Spencer Platt/Getty Images
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What does OPEC have to say about the Russian oil situation? Not much.

by David Brancaccio and Meredith Garretson
Mar 9, 2022
Part of it comes down to the oil world's "delicate equilibrium."
Joe Klamar/AFP via Getty Images
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In West Texas, astronomers worry about growing oilfield light pollution

by Travis Bubenik
Jul 9, 2021
A major Texas observatory is trying to convince oil and gas companies to minimize light pollution from drilling rigs and gas plants.
A view of McDonald Observatory in West Texas. Astronomers have grown concerned about light pollution from oilfield activity in the region, and the observatory has worked to educate companies on alternative “dark sky-friendly” lighting methods.
Damond Benningfield/McDonald Observatory
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Oil prices are high. So why aren't U.S. oil producers drilling?

by Andy Uhler
Jul 6, 2021
Two reasons: reluctant investors and potential regulations.
A natural gas drill at a hydraulic fracturing site on in Springville, Pennsylvania, in 2012.
Spencer Platt/Getty Images
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OPEC delays and spending cuts: Uncertainty abounds in the oil and gas industry

by Andy Uhler
Dec 1, 2020
OPEC and its allies are having trouble coming to an agreement, because individual countries see thing differently.
The Brega oil port in Libya in September.
AFP via Getty Images
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Can even a deal to cut oil production increase prices amid COVID-19?

by David Brancaccio , Rose Conlon and Alex Schroeder
Apr 10, 2020
Demand for oil is falling so quickly that even a reduction in supply will take some time to affect markets.
Many shale oil companies can operate profitably with prices so low.
Justin Sullivan/Getty Images
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OPEC fights falling prices with production cuts

by Justin Ho
Dec 7, 2018
Analysts say OPEC's decision is less about raising prices, and more about stopping them from falling further.
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