The Egyptian Accreditation Council (EGAC) has accredited Nasr Petroleum Company’s (NPC) General Administration for Chemical Research’s laboratories with International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC) 17025: 2017.

Saudi Arabia was forced to cut oil production by more than 200,000 barrels per day (b/d) last month after OPEC’s forecasted demand figures were lower than expected, raising concerns about oversupply.

Japan’s crude imports from the UAE for June stood at 16.456 million barrels, 22.9% of the country’s total crude imports.

West Texas Intermediate (WTI) crude reached $75 a barrel on July 3, but quickly dropped to settle at just 0.3% higher, after the American Petroleum Institute (API) announced that US crude inventories fell by 4.51 million barrels last week.

Egypt has received 2 million barrels of Iraqi crude, the third shipment of 2018.

Saudi Aramco has increased the price of crude exports to Asian buyers to their highest levels since 2014 amid rising demand for Saudi oil.

Iraq exported 3.453 million barrels per day (mb/d) of crude oil from its southern ports in March, a slight increase from the numbers for February, which marked the third month in a downward trend.

Looking to expand its operations, Saudi Aramco plans to begin trading non-Saudi crude oil.

The Iraq government called on the international community to cease importing crude oil from the autonomous region controlled by the Kurdistan Regional Government.

Iran's exports of crude oil are expected reach 2.5mb/d by the end of the Iranian fiscal year, which concludes on March 20.