U.S. crude oil production fell for the fourth consecutive month in January, but rising output from shale formations in Texas highlighted U.S. producers' ability to keep output near record levels in the face of low prices.
Libya's oil production dropped to between 295,000 and 350,000 barrels per day for the past two weeks because of long-standing power supply problems, a spokesman for the National Oil Corporation said on Wednesday.
Production at Mexican state oil company Pemex is likely to fall by around 100,000 barrels per day (bpd) due to a current round of budget cuts at the firm, chief executive officer Jose Antonio Gonzalez Anaya said on Monday.
Macquarie's Vikas Dwivedi mentioned that robust Indian oil demand growth appears to be an "underappreciated factor" when considering global crude demand and "a source of growing consternation for demand bears."
India's oil product demand surged...
Iran aims to boost its crude oil production capacity by 160,000 barrels per day following the completion of expansion projects at its North Azadegan and Yadavaran oilfields, a senior Iranian oil official was quoted as saying.
U.S. shale oil production is expected to fall for a seventh month in a row in February, declining at about the same rate as the month before as drillers manage to eke out a few more barrels from each new well, U.S. data showed on Monday.
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