North Dakota oil output fell by an estimated 60,000-90,000 barrels per day on Tuesday due to frigid temperatures and related operational challenges, the state pipeline regulator said in a statement. North Dakota is the third-largest oil-producing state in the country, with November output totaling some 1.221 million bpd, according to the latest data from the Department of Mineral Resources. The state's associated natural gas output fell by an estimated 0.17-0.26 billion cubic feet per day, [Read more]

U.S. oil production is poised to set a larger record this year than prior estimates, the U.S. Energy Information Administration (EIA) said on Tuesday in its Short-Term Energy Outlook report. U.S. President Donald Trump has vowed to maximize U.S. oil production even as energy executives have held steadfast on prioritizing capital discipline over explosive growth. The EIA said it now expects U.S. crude oil production to average 13.59 million barrels per day (bpd) in 2025, up from its prior [Read more]

U.S. power consumption will rise to record highs in 2025 and 2026, the U.S. Energy Information Administration said in its Short Term Energy Outlook on Tuesday. With growing demand from data centers dedicated to artificial intelligence and cryptocurrency and with homes and businesses using more electricity for heat and transportation, EIA projected power demand will rise to 4,179 billion kilowatt hours (kWh) in 2025 and 4,239 billion kWh in 2026, up from a record 4,082 billion kWh in [Read more]

Top oilfield services provider SLB is reorganizing certain functions within its business and continuing to reduce its workforce, according to a source familiar with the matter and an internal email seen by Reuters. As part of its reorganization, SLB will create a new performance function, led by a new chief performance officer, it said in an internal email sent to employees on Monday and seen by Reuters. That organization will include a series of functions, ranging from security and [Read more]

Decisions made by oil producer group OPEC take a long-term view of the global markets and are aimed at providing price stability, Secretary General Haitham Al Ghais said at the India Energy Week conference on Tuesday. The comments came after U.S. President Donald Trump repeatedly called on the producer group to increase oil production to help reduce prices. The Organization of the Petroleum Exporting Countries and their allies, a group known as OPEC+, said earlier this month that it would [Read more]

Texas oil, gas and industrial groups on Tuesday asked the new EPA administrator to speed up Texas' request to approve carbon capture and storage projects instead of the federal government, to help boost private investment and unleash capture technology. The six groups, including the Texas Oil and Gas Association and the Texas Association of Manufacturers, asked Environmental Protection Agency chief Lee Zeldin to "expedite and approve" the state's application for "primacy." This would enable [Read more]

ChampionX expects new U.S. import tariffs on steel and aluminium to drive up equipment costs for oilfield service firms, a company official said on Tuesday. U.S. President Donald Trump raised tariffs on steel and aluminium imports on Monday to a flat 25% "without exceptions or exemptions" in a move he hopes will aid the struggling industries in the United States but which also risks sparking a multi-front trade war. "80% of our revenue is North America, but for a lot of the equipment based [Read more]