The EIA’s December outlook projects global crude supply up about 800,000 bpd in 2026, with Brazil, Guyana and Argentina providing nearly half of the increase as non-OPEC production continues to expand.
Petrobras cuts its dividend and investment forecasts in its revised five-year business plan for 2026-2030, with reduced spending amid lower oil price expectations.
Vaalco Energy has once again delayed its multi-well drilling campaign offshore Gabon, now set to begin in the fourth quarter as the company reports lower third-quarter earnings due to maintenance and weaker oil prices.
Lukoil declared force majeure at Iraq’s West Qurna 2 oilfield after US sanctions disrupted its operations and restricted US-dollar transactions, affecting one of the country’s key upstream projects.
