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OPEC+ Set to Hold Oil Production Steady in December as Producers Focus on 2027 Strategy

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EnergyNow Media | October 31, 2026 OPEC+ is expected to maintain its current oil production targets through December, signalling a cautious approach to global supply management amid continuing geopolitical uncertainty and negotiations over production levels for 2027. According to Reuters, seven key OPEC+ producing nations have reached an agreement in principle to leave December production …

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Canadian Oil Discount Exceeds US$30 Amid Gulf Coast Pressures

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Canadian governments have prioritized diversifying oil trade away from the U.S. amid a wider trade dispute By Robert Tuttle A collection of five of 10 of the pumpjacks on a Canamax Energy Ltd. well site work together on a piece of property northeast of Grimwhaw, Alta. Photo by RANDY VANDERVEEN Heavy crude oil in Alberta …

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UK Energy Poised for More Deals Amid High Taxes and Oil Prices

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By Muvija M BP’s planned N.Sea asset sale could deliver over $2 bln, estimates say UK upstream tax rate reaches 78% under Energy Profits Levy introduced in 2022 Analysts cite ageing fields and high costs as drivers of more consolidation LONDON, Oct 30 (Reuters) – Tax advantages and high energy prices will drive further consolidation …

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Brent 2026 View Tops $90 for First Time Since May as MidEast Stability Remains Elusive

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By Anjana Anil Brent projected to average $92.88 per barrel in 2026 WTI projected to average $86.60 per barrel in 2026 Oct 30 (Reuters) – Analysts have raised their 2026 oil price view, pushing the Brent forecast above $90 a barrel for the first time since May as disruptions to ​Middle East energy flows persist, …

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BP Beats Forecasts with Record Profit, Targets Early Settling of Deepwater Horizon Bill

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  Summary Underlying replacement cost profit $8.46 billion, tops forecast Surplus cash will settle remaining Deepwater Horizon liabilities Net debt falls to $13.9 billion, meeting target a year early Shell and Total use excess cash for buyback hike Oct 30 (Reuters) – BP posted a record quarterly net profit on Friday, beating expectations as the …

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Data Centre Growth Triggers Backlash in Norway Over Power Deficit Concerns

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By Nora Buli OSLO, Oct 29 (Reuters) – Forecasts published on Thursday of rapid growth in power demand from data centres in Norway have further underscored concerns among policymakers and energy market operators, ​with one political party calling an emergency debate in parliament next week that ‌may lead to a ban on new data centres. …

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Shell and Total Post Highest Quarterly Profit Since 2022

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(Reuters) – Shell and TotalEnergies reported on Thursday sharply higher third-quarter profits and raised share buybacks, as war-driven energy prices and record refining margins helped both beat expectations. Shell raised its quarterly buyback to $5 billion from $3 billion, the second-largest buyback on record, while Total reiterated plans to buy back $2.5 billion of shares …

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Oilfield Services Firms Lean on Middle East Rebound But Risks Persist

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(Reuters) – Top oilfield services companies are counting on a recovery in Middle East activity after months of disruptions to support growth next year, but rising operating costs and renewed flare-ups are tempering the near-term outlook. SLB, Halliburton and Baker Hughes all reported sequential revenue growth in parts of their Middle East businesses in the …

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Equinor Warns Europe is Vulnerable to Winter Gas Price Spike if Cold Weather Hits

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(Reuters) – Europe could face another spike in gas prices if cold weather boosts demand later this winter, when stocks are depleted and the region depends more on attracting scarce liquefied natural gas cargoes, Equinor’s CEO Anders Opedal said on Wednesday. The warning came after the Norwegian gas producer reported its highest quarterly earnings since …

Equinor Warns Europe is Vulnerable to Winter Gas Price Spike if Cold Weather Hits Read More »

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