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Energy news covering oil, petroleum, natural gas and investment advice The united states launched targeted strikes on three iranian nuclear facilities, escalating middle east tensions, prompting fears of soaring oil prices and drawing sharp reactions globally. And canadian rig count and drilling data, and use oilprice.com's graphing tools to compare oil prices, frac spread, production and drilling data per basin or province.
Oil production growth is slowing due to natural depletion and rising costs, especially in the permian basin, but new federal estimates could offset geological limits.
Ecuador's vital oil industry is in a sharp decline, leading to a deepening economic crisis with soaring fiscal deficits and increasing national debt. Oil production may have peaked, signaling the end of the shale boom Diamondback energy and other major players report reduced drilling and fracking activity in the permian basin. Crude oil production from onshore federal lands reached a record high in 2024, largely driven by increased activity in new mexico's permian basin, while offshore production growth remained.
