14 March | Oil

CERAWeek: use of AI will lead to faster and cheaper oil production

CERAWeek: use of AI will lead to faster and cheaper oil production

Artificial intelligence (AI) is speeding up the drilling pace in oil and gas, prompting firms to take a new look at sites that were once regarded as too challenging and expensive to develop. This was reported by industry executives at the CERAWeek conference in Houston.

Oil producers are searching for ways to be in pocket amid a sharp drop in energy prices. Organizations worry about a slowdown in global demand for fuel due to the US administration's tariffs on imports from the country's top trading partners.

According to Reuters, UK oil company BP is using AI to control drill bits and predict problems employees may face during their work. 

With the help of AI, Devon Energy can now gather information about the possibility of faults in formations. This fact allows avoiding emergencies in the fields, the agency notes.

Meanwhile, Chevron uses drones equipped with artificial intelligence for routine inspections of shale deposits. Drones are also used to monitor oil rigs.

Anton Volkov MarketCheese
Period: 11.07.2025 Expectation: 920 pips
GBPUSD falls as UK GDP unexpectedly shrinks
Yesterday at 10:42 AM 23
Brent sell
Period: 17.07.2025 Expectation: 150 pips
OPEC's gloomy forecast drags Brent crude prices lower
Yesterday at 08:53 AM 35
Period: 17.07.2025 Expectation: 26000 pips
Institutional investor demand could push ETHUSD to 3,000
10 July 2025 55
Period: 16.07.2025 Expectation: 2000 pips
USDJPY prepares to retest 148 Level
10 July 2025 49
Period: 16.07.2025 Expectation: 900 pips
NVIDIA shares rise amid global AI infrastructure investments
09 July 2025 81
Period: 15.07.2025 Expectation: 800 pips
Breaking downtrend could push USDCAD to 1.375
09 July 2025 52
Go to forecasts