Bloomberg America’s two biggest oil majors are leaning on booming shale production in the Permian Basin, the once-overlooked region in West Texas and New Mexico, to weather the gathering macroeconomic storm of lower oil demand, weak commodity prices and slowing global growth. Exxon Mobil Corp. said its production from the basin rose 70% in the third quarter compared with a …

Bloomberg Russia’s average daily oil production remained above its Opec+ target in October, though the compliance gap is the smallest since the Druzhba crude-contamination crisis earlier this year. The country pumped 47.49 million tons of crude and condensate last month, according to preliminary data from the Energy Ministry’s CDU-TEK unit. That equals a daily average of 11.229 million barrels, based …

Bloomberg China’s imports of liquefied natural gas are poised to drop for the first time in more than three years as buyers grapple with an outage at a key receiving terminal and hefty stockpiles. The world’s top buyer of natural gas imported 3.8 million tons of the fuel in LNG form October 1-30, according to berth data compiled by Bloomberg, …