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Canadian crude output falls to 2016 lows

Canada’s oil production slumped to 4.4 million barrels per day (bpd) in May – the lowest output since the middle of 2016 when wildfires crippled oil sands production.

Crude oil demand to recover soon

Russia Energy Minister Alexander Novak has said that global oil demand will recover significantly next month, climbing to be within 10% of the level that the world saw prior to the coronavirus pandemic.

Venezuela restarts gasoline production

Gasoline production has resumed at Venezuela’s state oil firm PDVSA gasoline at the only operating refinery in the country home to the world’s largest oil reserves that are experiencing severe gasoline shortages.

Shell weighs selling its 240,000-bpd refinery

Shell’s spokesman Curtis Smith told Reuters that the oil giant is considering selling its 240,000-barrels-per-day refinery in Convent, Louisiana, as part of a broader strategy to reshape its refining portfolio, but the company has not announced yet.

Neptune removes Dutch North Sea platforms

Three platforms have been removed from the Dutch sector of the North Sea by the offshore operator Neptune Energy. The three facilities, namely L10-C, L10-D, and L10-G, stopped production in 2016.
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