As increases in demand outpace growth in production, the Energy Information Administration predicts crude oil will average $62 per barrel in 2018, raising its earlier forecast by $3 a barrel.

According to analysis released by the Organization of Petroleum Exporting Countries, faster penetration of electric vehicles (EVs) could reduce oil demand to 108 million barrels a day (mb/d) by 2040.

LONDON, Oct. 25, 2017 - OPEC and participating non-OPEC producing countries have achieved a record high level of compliance with their agreement to voluntarily cut production, according to the joint ministerial committee responsible for monitoring the agreement.

WASHINGTON, Oct. 18, 2017 - India received its first-ever shipment of American petroleum earlier this month, among signs  that the Asian nation’s energy needs are increasing at a faster rate than all other regions of the world.