Cut | Egypt Oil & Gas
OPEC+ Considers Cutting Oil Production by Over 1 mmbbl/d
According to OPEC sources, OPEC+ may consider reducing oil production by more than 1 million barrels per day the following week in order to address the weakness in oil market. This would be the largest action taken si...
Russia Opposes Any Potential OPEC+ Oil Output Cut
Sources talking to the Wall Street Journal stated that Russia does not favor a reduction in oil production at this time and that it is probable OPEC+ will maintain its output. OPEC+ is expected to maintain its oil out...
Russia’s New Gas Halt Worsens the Energy Crisis in Europe
Russia cut off gas shipments along Europe’s main supply route, worsening an economic standoff between Moscow and Brussels and increasing the likelihood of a recession and energy rationing in some of the richest ...
Saudi Arabia May Slash October Crude Prices for Asia
Due to weak demand in the region and rising arbitrage shipments, the world’s top oil exporter Saudi Arabia may lower October prices for the majority of crude grades it delivers to Asia, Reuters reported. Accordi...
Saudi Arabia, Russia to Extend Oil Cut until March 2018
Saudi Arabia and Russia, the world’s top two oil producers, agreed on the need to extend output cuts for a further nine months until March 2018 to rein in a global crude glut, pushing up prices, Reuters informed...
OPEC Signals Oil Output Cut Extension
Saudi Arabia’s Oil Minister, Khalid al-Falih, announced on the 8th of May that oil producers would “do whatever it takes” to re-balance the market and that he expected a global deal on cutting crude ...
Iran to Stick to OPEC Decision on Oil Cut Deal
Iran’s Oil Minister, Bijan Namdar Zanganeh, stated that the Persian Gulf country will go along with whatever decision the Organization of Petroleum Exporting Countries (OPEC) makes, at its meeting later in May, on whe...
OPEC Ministers to Meet Russia
The energy ministers of Saudi Arabia and Venezuela, members of the Organization of Petroleum Exporting Countries (OPEC), plan to meet their Russian counterpart to discuss extending oil-output cuts amid a developing co...
