WorldOil OPEC strife likely at June meeting, ex-Algeria minister says Saudi Arabia and Russia have a difficult month ahead, according to Nordine Ait-Laoussine, president of Geneva-based consultant Nalcosa and former energy minister of Algeria. IEA cuts 2018 oil demand forecast as $70-crude takes a toll The International Energy Agency cut forecasts for global oil demand growth in 2018 as the highest prices in three years put a brake on consumption. ExxonMobil outlines aggressive growth plans to more than double earnings ExxonMobil today outlined an aggressive growth strategy to more than double earnings and cash flow from operations by 2025 at today’s oil prices. Oil dips on forecast for rising stockpiles, Trump trade-war risk Oil dropped for the first time in four sessions on a reported expansion in U.S. crude inventories and the risk of an intensifying global trade war sparked by President Donald Trump. Equatorial Guinea energy outlook takes a double hit this week OPEC member Equatorial Guinea suffered a double blow this week to its ambition of revitalizing its energy industry. Wood Mackenzie says Delaware Wolfcamp still leads the pack—for now The Delaware Wolfcamp has been the focus of much of the increase in Lower 48 drilling activity in the past 18 months. While breakevens continue to trend down and the play has attracted a number of new entrants, there are clear signs that growth is plateauing. Producing gas well total declines slightly The number of active, producing U.S. gas wells slipped 1.6% last year, from 501,535 to 493,421, although, according to the EIA, the country’s gross gas withdrawals hit an 11-year high at 95.8 Bcfd last November. U.S. output builds on OPEC cutbacks, gas rides LNG expansion Shale operators are increasing U.S. crude production in response to oil prices that are, so far, trending more favorably this year, due largely to decisions by OPEC and Russia to curb production. U.S. shale drives rig count recovery in 2017 With oil prices on the rise in 2017, operators added drilling rigs back to many areas of the U.S. A landmark year for the oil and gas industry The last 12 months in Washington, D.C., have been incredibly positive for the U.S. oil and gas industry.