World oil market less tight than expected on supply gain, IEA reports

(Bloomberg) – Global oil markets won’t be as tight as expected this quarter, as upward revisions to demand are outpaced by upgrades to supplies, the International Energy Agency said. The IEA boosted forecasts for world fuel consumption this year on surprising strength in China, and still anticipates a supply shortfall during the fourth qu...

Oil production from Permian basin to expand through year’s end

(Bloomberg) – Oil production from the Permian basin will expand in November and December, marking the region’s longest run of monthly gains in two years. The world’s most productive shale patch is expected to pump a record 5.98 MMbpd in December. In total, U.S. crude production from the seven biggest shale regions will total 9.65 MMpd n...