Cut
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Saudi Arabia, Russia to Extend Oil Cut until March 2018
Wednesday, 17th May 2017
Saudi Arabia and Russia, agreed on the need to extend output cut to rein in a global crude glut. -
OPEC Signals Oil Output Cut Extension
Tuesday, 9th May 2017
The Saudi Oil Minister stated that oil producers would "do whatever it takes" to rebalance the market. -
Iran to Stick to OPEC Decision on Oil Cut Deal
Sunday, 7th May 2017
Iran announced it will go along with whatever decision OPEC makes on whether to extend oil production cuts beyond June. -
OPEC Ministers to Meet Russia
Thursday, 27th April 2017
The energy ministers of Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts. -
Iraq Mulls Exemption from OPEC Cut Deal
Sunday, 23rd April 2017
Iraq may seek exemption because it needs its oil income to fight the Islamic State. -
OPEC Cuts 153,000b/d in March
Tuesday, 18th April 2017
Supply targets from the members of the OPEC suggest a compliance of 104% with the cartel's deal to cut output. -
India to Cut Iranian Oil Imports
Sunday, 2nd April 2017
India will cut Iranian oil imports is an attempt to push Iran to provide concessions on the Farzad B field. -
UAE Boosts OPEC Production Cut in March
Thursday, 30th March 2017
UAE’s production cut has boosted OPEC’s compliance with its oil-output-cutting deal to a record high of 95%. -
Southern Iraq Exports 3.163mb/d of Oil in March
Wednesday, 29th March 2017
Iraq’s March production has been reduced by more than its share of 210,000b/d from its southern fields, while northern production has been reduced by around 30,000-40,000b/d so far in March from February. -
Algeria Supports Extension of OPEC Deal
Sunday, 26th March 2017
Algeria’s Energy Minister, Noureddine Boutarfa, announced the country’s support in extending global oil production cuts beyond June. Other countries have also added their support for a possible extension, including Venezuela, Iran, and Iraq.
Latest News
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El Molla Reviews Midor Refinery Expansion
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Egypt Approves Extending SDX’s PSA of West Ghairb to 2031
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Agreement with Belgian DEME for Studies of Green Hydrogen Production
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El Molla Inspects Progress of New Alamein Pipeline Project
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Commodity CMDTY | Units | Price | Change |
Crude Oil (WTI) WTI | USD/bbl | 60.81 | -0.77% |
Crude Oil (Brent) Brent | USD/bbl | 63.72 | -0.55% |
NYMEX Natural Gas | USD/MMBtu | 2.80 | -0.46% |
OPEC Basket Price | USD/bbl | 61.97 | -3.53% |
Last Modified March 4, 2021