Chevron Corporation revealed a breakdown of its oil and gas production in the third quarter of this year in its latest results statement, which was posted on the company’s website recently. According to this statement, the company’s net oil equivalent production came in at 4.086 million barrels per day in the third quarter.
Crude oil prices opened lower today even after Russia’s Lukoil declared force majeure on its operations in one of Iraq’s biggest oil fields because of the latest U.S. sanctions. At the time of writing, Brent crude was trading at $63.84 per barrel, with West Texas Intermediate at $59.89 per barrel
Curious Minds Corner
What is the gas‑to‑oil ratio (GOR)?
The volume of gas produced per barrel of oil (scf/bbl) under standard conditions.