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World Oil magazine publishes in-depth features and articles on drilling, production and exploration, as well as economics, management issues and statistical analysis.

The International Energy Agency (IEA) has cut its 2026 forecast by 700,000 bpd, now expecting global consumption to de...
06/17/2026

The International Energy Agency (IEA) has cut its 2026 forecast by 700,000 bpd, now expecting global consumption to decline by 1.1 MMbpd this year as disruptions, higher fuel prices and tighter product markets weigh on demand.

The IEA has cut its 2026 oil demand forecast by 700,000 bpd, now expecting global consumption to decline by 1.1 MMbpd this year as Middle East disruptions, higher fuel prices and tighter product markets weigh on demand.

🚨 - President Trump said the interim U.S.-Iran agreement could be signed within days, bringing the reopening of the Str...
06/17/2026

🚨 - President Trump said the interim U.S.-Iran agreement could be signed within days, bringing the reopening of the Strait of Hormuz one step closer and reinforcing expectations for increased Gulf oil exports and lower crude prices.

President Trump said the interim U.S.-Iran agreement could be signed within days, bringing the reopening of the Strait of Hormuz one step closer and reinforcing expectations for increased Gulf oil exports and lower crude prices.

Kosmos Energy has completed the sale of its interests in the Ceiba Field and Okume Complex offshore Equatorial Guinea to...
06/17/2026

Kosmos Energy has completed the sale of its interests in the Ceiba Field and Okume Complex offshore Equatorial Guinea to Panoro Energy for approximately $127 million.

Kosmos Energy has completed the sale of its interests in the Ceiba Field and Okume Complex offshore Equatorial Guinea to Panoro Energy for approximately $127 million, using proceeds to reduce debt and focus capital on higher-return assets.

🎙In a new exclusive episode, Brandon Myers, Head of Research at Novi Labs, shares insights on advanced energy analytics,...
06/17/2026

🎙In a new exclusive episode, Brandon Myers, Head of Research at Novi Labs, shares insights on advanced energy analytics, machine learning forecasting and the U.S. oil inventory landscape.

LISTEN:

Brandon Myers, Head of Research at Novi Labs, shares insights on advanced energy analytics, machine learning forecasting and the US oil inventory landscape. Discove…

MOL Group, REPSOL and TPAO have signed a production sharing agreement for Libya's offshore O7 block in the Mediterranean...
06/17/2026

MOL Group, REPSOL and TPAO have signed a production sharing agreement for Libya's offshore O7 block in the Mediterranean Sea, advancing plans for seismic acquisition and deepwater exploration drilling in the North African country.

MOL Group, Repsol and TPAO have signed a production sharing agreement for Libya's offshore O7 block in the Mediterranean Sea, advancing plans for seismic acquisition and deepwater exploration drilling in the North African country.

Chevron has acquired a 70% stake and operatorship in Greece's offshore Block 10 concession, expanding its Eastern Med. e...
06/17/2026

Chevron has acquired a 70% stake and operatorship in Greece's offshore Block 10 concession, expanding its Eastern Med. exploration portfolio and strengthening its partnership with HELLENiQ ENERGY.

Chevron has acquired a 70% stake and operatorship in Greece's offshore Block 10 concession, expanding its Eastern Mediterranean exploration portfolio and strengthening its partnership with HELLENiQ ENERGY.

Emerson has added combustible gas detection capabilities to its Rosemount 928 Wireless Gas Monitor, expanding safety cov...
06/17/2026

Emerson has added combustible gas detection capabilities to its Rosemount 928 Wireless Gas Monitor, expanding safety coverage in remote and hard-to-wire facilities.

Emerson has added combustible gas detection capabilities to its Rosemount 928 Wireless Gas Monitor, enabling real-time %LEL monitoring over WirelessHART networks and expanding safety coverage in remote and hard-to-wire oil and gas facilities.

ADNOC Group has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude m...
06/16/2026

ADNOC Group has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude marketing business and targets higher trading volumes alongside growing production capacity.

ADNOC has hired veteran oil trader Benoit Roulon to lead its trading arm as the company expands its global crude marketing business and targets higher trading volumes alongside growing production capacity.

Aker BP ASA is expanding deployment of AI-powered computer vision technology across its offshore drilling fleet, using ...
06/16/2026

Aker BP ASA is expanding deployment of AI-powered computer vision technology across its offshore drilling fleet, using DrillDocs' CleanSight system to improve drilling efficiency, identify wellbore instability and reduce NPT.

https://worldoil.com/news/2026/6/16/aker-bp-expands-deployment-of-ai-powered-drilling-surveillance-technology/

Aker BP is expanding deployment of AI-powered computer vision technology across its offshore drilling fleet, using DrillDocs' CleanSight system to improve drilling efficiency, identify wellbore instability and reduce nonproductive time.

Brent crude fell below $80/bbl for the first time in more than three months as markets priced in increased oil supply fo...
06/16/2026

Brent crude fell below $80/bbl for the first time in more than three months as markets priced in increased oil supply following the U.S.-Iran agreement to reopen the Strait of Hormuz.

Brent crude fell below $80/bbl for the first time in more than three months as markets priced in increased oil supply following the U.S.-Iran agreement to reopen the Strait of Hormuz. Analysts lowered price forecasts as expectations grew for a recovery in Persian Gulf exports.

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