The latest production forecast for this year represents a drop of about 50,000 barrels a day from the Energy Information Administration’s previous projections in June.
July 8, 2025crude oil News Updates
EIA Trims Forecast for 2025 US Crude Oil Output
OPEC+ to Boost Oil Production by 548,000 Barrels a Day
Eight members of the OPEC+ alliance of oil exporting countries say they will boost production by 548,000 barrels per day in August in a move that could further reduce gas prices this year.
July 7, 2025Shale Firms Shrug Off Trump Push to Drill as Price Rally Ebbs
In the shale oil fields of Texas, North Dakota and New Mexico, executives are unlikely to change their capital budgets based on abrupt price moves from U.S. military strikes on Iran.
June 23, 2025Closing the Strait of Hormuz Could Backfire on Iran
The war between Israel and Iran has raised concerns that Iran could retaliate by trying to close the Strait of Hormuz, the world’s most important oil chokepoint.
June 23, 2025Tanker Rates Soar to Highest Since 2023 After US Bombs Iran
Tanker rates extended gains as tensions in the Middle East ratchet higher, with shipowners demanding bigger fees to call at ports in the Persian Gulf after the U.S. launched strikes on Iran.
June 23, 2025Trump Warns Oil Producers on Prices Following Iran Attack
President Donald Trump demanded that energy producers push down crude prices following U.S. military strikes on Iran.
June 23, 2025Oil Flip-Flops After US Strikes Iranian Nuclear Sites
Global markets appeared to take the U.S. strike against nuclear targets in Iran in stride as investors watched June 23 to see how Iran will react.
June 23, 2025Fuel Tanker Rates Soar Over Israel-Iran Conflict
The cost of hauling refined oil out of the Middle East surged on June 17 as shippers reacted to the conflict between Israel and Iran.
June 17, 2025Oil Shippers Pause Offers of Vessels to Middle East
Some oil tanker owners and managers have paused offering their vessels for Middle Eastern routes since June 13 as they assess the risks from Israel’s conflict with Iran.
June 16, 2025Israel-Iran Clash Revives $100-a-Barrel Oil Fears
The barrage of headlines has revived memories of the political upheavals and price spikes of the 1970s — and yet even when oil prices have jumped, it inevitably proved short-lived.
June 13, 2025Follow Us
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