UAE exit from OPEC signals closer alignment with US interests, experts say

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As the United Arab Emirates’s exit from OPEC officially takes effect, experts say the United States government will welcome the move for its potential to curb the oil-producing cartel’s pricing power.

While the UAE’s withdrawal, which went into effect on Friday, has been long rumoured, the timing was unexpected.

“The exit was a surprise in timing (at least to me), but in some ways has been brewing for some time,” wrote Rachel Ziemba, adjunct senior fellow at the Center for a New American Security – a US think tank.

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Source: Al Jazeera

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US crude oil production grew by 350,000 b/d, in 2025, setting a new annual production record of 13.6M b/d, according to our latest STEO.

US crude oil production rose in 2025, setting new record

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U.S. crude oil production grew by 3%, or 350,000 barrels per day (b/d), in 2025, setting a new annual production record of 13.6 million b/d, according to our latest Short-Term Energy Outlook (STEO). Production from the Lower 48 states excluding the Gulf of America (L48) accounted for 11.3 million b/d, or 83% of the total U.S. crude oil production in 2025. The rest of the production came from Federal Gulf of America (GOA) and Alaska.

In 2025, the number of active rigs per month in L48 was 5% less than in 2024 and 1% fewer wells were drilled. Despite less rig activity and fewer wells, efficiency improvements that we saw in 2024 continued through 2025 and resulted in a slight increase in crude oil production, with new wells producing 2.9 million b/d of crude oil and wells drilled prior to 2025 producing 8.3 million b/d. Rig and well activity fell in 2025 compared with 2024 because West Texas Intermediate (WTI) crude oil prices fell from $77/barrel (b) in 2024 to $65/b in 2025.

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Source: eia

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Crude oil prices eased Tuesday in extended trading, after Pres. Trump said the U.S. would insure tankers moving through the Strait of Hormuz.

Oil prices ease after Trump says US will insure tankers transiting Strait of Hormuz

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Crude oil prices eased Tuesday in extended trading, after President Donald Trump said the U.S. would provide insurance to tankers in the Persian Gulf to get maritime traffic moving through the Strait of Hormuz.

U.S. crude prices rose 4.68%, or $3.33, to close at $74.56 per barrel, while global benchmark Brent gained 4.71%, or $3.66, to settle at $81.40. Prices had surged more than 9% earlier on fears the widening war in the Middle East would result in a prolonged disruption to regional oil and gas supplies.

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Source: CNBC

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At SPE’s Hydraulic Fracturing Conference, Energy Secretary Chris Wright challenges the industry to significantly boost oil and gas recovery.

US Energy Secretary urges industry to double oil and gas output

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US Energy Secretary Chris Wright is challenging the industry to significantly boost oil and gas recovery.

“Those awesome shale reservoirs with high permeability and high deliverability, we’re still only getting about 10% of the oil out,” the founder and former head of Liberty Energy said during SPE’s Hydraulic Fracturing Technology Conference in The Woodlands, Texas, on 3 February. “Let’s figure out how to double that recovery.”

It is, he acknowledged, a hard problem, but a worthy one that, if solved, could help lift billions of people out of energy poverty to live longer and healthier lives.

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Source: JPT

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US energy stocks jump after Trump says America will take control of Venezuela’s oil industry after Maduro’s capture.

Oil stocks sharply higher after US action in Venezuela

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Shares of major U.S. companies in the energy sector are sharply higher Monday after President Donald Trump announced plans to take control of Venezuela’s oil industry and said American companies would revitalize it after capturing President Nicolás Maduro.

While the U.S. action is unlikely to have an immediate impact on crude prices given the current glut in the market, it could upend energy markets.

Venezuela’s oil industry is in disrepair after years of neglect and international sanctions. Some oil industry analysts believe that Venezuela could double or triple its current output of about 1.1 million barrels of oil a day and return the nation to historic production levels relatively quickly, others see a much longer road ahead.

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Source: ABC News

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Energy Transfer has announced its plans to expand the Transwestern Pipeline to reach new demand in the US Southwest for natural gas.

Desert Southwest Expansion approved, adding new natural gas capacity across the US Southwest

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The United States has become the backbone of the international gas industry as the nation produces more natural gas than any other country on the planet. For decades, the substantial basins in the US have provided US energy companies with the means to develop astonishing levels of output capacity from fields such as the prolific Permian and Delaware basins. Energy Transfer, a mainstay of the US energy market, has announced its plans to expand the Transwestern Pipeline to reach new demand in the US Southwest for natural gas.

Energy Transfer approves the planned expansion of its gas pipeline in the US

The firm has been operating in the prolific Permian basin since 1960, and following decades of operations, now boasts one of the most substantial energy infrastructure portfolios in the US. Energy Transfer has over 140,000 miles of pipeline and associated energy infrastructure in an energy network that spans across 44 US states.

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Source: Energies Media

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Ten counties in the Permian Basin drove 93% of US crude oil growth from 2020–2024, EIA and Enverus data show.

America’s oil boom concentrated in ten Permian counties

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If you want to know where America’s oil boom is happening, no need to look at the whole map—because it’s limited to just ten counties in the Permian Basin. Between 2020 and 2024, these small dots in Texas and New Mexico delivered 93% of all U.S. crude oil growth, according to the latest EIA and Enverus data.

It’s almost like the rest of the US doesn’t even matter when it comes to oil production growth.

The U.S. added 1.9 million barrels per day (bpd) of new crude and condensate output over that stretch. But nearly all of it came from Lea and Eddy counties in New Mexico, plus Martin and Midland on the Texas side. Lea and Eddy alone punched out almost 1 million bpd of growth—more than half the national total. That puts two dusty counties in New Mexico on par with the production increases seen from OPEC heavyweights like Iraq or the UAE in their strongest years.

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Source: Oil Price

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According to the impact report, the Permian Basin generated $119B for the US economy in 2024 and supported more than 862,250 jobs.

Permian Basin drives $119B in US economic impact, report finds

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Only a small percentage — 1.6% — of Texans and New Mexicans reside in the Permian Basin, but the region has an outsized economic impact.

The Permian Strategic Partnership (PSP) has released its 2024 Economic Impact Report, highlighting the region’s essential role in supporting critical government functions such as public education and teacher support, police and fire departments, roadside safety, community hospitals and universities.

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Source: mrt

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US liquids production hit a record of 20.83M bpd in April, up roughly 50K barrels from March, per latest EIA Petroleum Supply Monthly report.

US oil and gas production reached record highs in April, says EIA

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Total U.S. liquids production eked out a record-high of 20.83 million barrels a day (bpd) in April, up roughly 50,000 barrels from the previous month, according to the U.S. Energy Information Administration’s latest Petroleum Supply Monthly report released on Monday.

The number, which includes crude oil and natural gas liquids, came in roughly 340,000 barrels higher than a previous estimate for the month of April.

U.S. diesel demand, a closely watched measure of the country’s economic health, was higher in April than early weekly estimates, the EIA also noted in its monthly report.

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Source: World Oil

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Lawmakers tour Permian Basin oil sites to shape energy policy, promote jobs, and support US energy dominance and innovation.

Lawmakers tour Permian Basin oil sites, discuss energy policy and jobs

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Rep. August Pfluger continues to escort fellow members of Congress to the Permian Basin on a tour of the region’s oil and gas operations.

This week, members of the House Committee on Energy and Commerce visited a hydraulic fracturing site and held a roundtable discussion with members of local energy companies.

“The purpose is the same as it has been the last five years,” said the Texas Republican, whose District 11 encompasses the Permian Basin. “They came to see how the energy space works. The Permian Basin literally provides the foundation of our economy.”

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Source: mrt

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