U.S. October oil production increased by 31 kb/d to 13,870 kb/d, another new record high. The largest increases came from the GOM and New Mexico, offset by a Texas drop. November production is expected to drop by 9 kb/d to 13,861 kb/d, according to the December STEO.

President Trump on Friday called on American oil companies to invest in Venezuela’s oil market — should a deal be reached with Caracas — encouraging them to “rip out the old

The total number of active drilling rigs for oil and gas in the United States rose by 1 this week, according to new data that Baker Hughes published earlier this week

Political chaos, sanctions and technical mismanagement of the oil industry may have taken a heavy toll on the industry.

Venezuela's oil production outlook this year will depend on how U.S. sanctions policy evolves, Goldman Sachs analysts said, after U.S. President Donald Trump deposed Venezuelan President Nicolas Maduro.