The Odessa American is the leading source of local news, information, entertainment and sports for the Permian Basin.

Output for March 2025 was revised higher by 2 kb/d and April 2025 output was revised higher by 128 kb/d compared to last ...

OPEC said on Monday it expected the global economy to remain resilient in the second half of this year and trimmed its forecast for growth in oil supply from the United States and other producers ...

The organization’s decisions often garner headlines because, in our experience, many see OPEC+ as the primary determiner of ...

Opec does two things well: produce oil and manage the market to its advantage. The cartel has long held that cutting production and keeping the oil price high beats selling more barrels at lower ...

With low running costs and government support, EVs are becoming increasingly attractive, indicating a broader trend of ...

OPEC’s report also found production by OPEC+ rose in May by 180,000 bpd to 41.23 million bpd, less than the 411,000 bpd hike called for by the group’s increase in its May quotas.

This is the third straight year of declining gas prices, and it's the lowest cost of gas (averaging $3.65 a gallon in the ...

LONDON/MOSCOW: OPEC said on Monday it expected the global economy to remain resilient in the second half of this year despite concerns about trade conflicts and trimmed its forecast for growth in oil ...

OPEC also said supply from countries outside the Declaration of Cooperation – the formal name for OPEC+ – will rise by about 730,000 barrels per day in 2026, down 70,000 barrels per day from ...

Even countries whose economies rely heavily on petrol is making the switch to EVs. Read more at straitstimes.com. Read more ...

Oil Prices Fall as OPEC Increases Supply Despite Fears of an Economic Slowdown U.S. oil prices fell to $57 a barrel after the OPEC Plus cartel said this weekend that it would pump more oil.