Moldova's industrial production increased by 7.3% y/y in January-May, driven by a 6.2% expansion in the core manufacturing sector and a 14.7% rise in utilities output, new data says.

Achieved new production record of 14,000 boe/d for Peace River assetCompleted drilling all wells in our first Peace River Clearwater waterflood pilot on the Dawson 4-24 PadCalgary, Alberta--(Newsfile Corp. - June 3, 2025) - OBSIDIAN ENERGY LTD. (TSX: OBE) (NYSE American: OBE) ("Obsidian Energy", the "Company", "we", "us" or "our") is pleased to provide an operational update on our first half 2025 capital program. Having completed our exploration/appraisal program in the first quarter of 2025 to...

It's a bull market in many markets at the moment but certainly not in oil, which is likely to get more bad news on Sunday. Initial reports about Saudi Arabia pushing for a further production hike circulated on Friday and lowered crude by $1.51 but it's likely to fall even more if/when the hike is delivered. Reuters reports that Eight OPEC+ countries will likely hike output but probably less than in October, as summer driving season ends. The group has added 2.5 mbpd this year in a steady stream quota jumps since April, likely under pressure from the Trump administration. The risk is that sub-$60 oil prices cripple new drilling in the US shale industry. There are already signs of that as the US drilling rig count has plunged even further this year. Since US crude is such a short-cycle and decline rates so high, that's an ominous sign for 2026 US production and will very likely mean a backfire of the 'drill, baby, drill' Trump admin talking point. OPEC is still holding back 1.65 mbpd as part of regular production curbs and not the 'voluntary' ones they finished unwinding with last month's announcement. "Talks are focusing on unwinding that whole cut in gradual monthly increments," two sources quoted by Reuters said. They differed on the volume of crude that could return from 135K bpd to 350K bpd. In the macro picture, the drop in oil prices is a good thing for short-term inflation and should help to counteract tariff price pressures but below $60 (and likely even $70) is like holding a balloon underwater. Update: Two Reuters sources now say that OPEC+ has agreed in principle to at least 135k bpd. This article was written by Adam Button at investinglive.com.

OPEC+ reportedly discussing a June production increase of approximately 400,000 barrels per day (BPD) according to Bloomberg delegates. * The group has moved its meeting forward to May 3 (originally May 5) to discuss June output plans, per Reuters. * Market expectations suggest OPEC+ will continue adding supply in June, with a consensus forming around a 411k BPD increase. * The planned increase maintains the accelerated pace of additions, according to Amena Bakr. This article was written by Greg Michalowski at www.forexlive.com.