cuts | Egypt Oil & Gas
Saudi Arabia Maintains Crude Supply to Asian Refiners Despite OPEC+ Cuts
Despite OPEC+’s surprising announcement last week about production cuts of 1.16 million barrels per day from May for the rest of the year, Saudi Aramco will maintain the same crude volumes supply to several North Asia...
Oil Prices Surge as OPEC+ Suprises Markets with Production Cuts
After the Organization of the Petroleum Exporting Countries and their allies including Russia (OPEC+) shocked the markets by announcing further production cuts of about 1.16 million barrels per day, oil prices increas...
Saudi Aramco to Continue Full Oil Supplies to Asia in November Despite OPEC+ Cuts
Several people with knowledge of the situation said on Monday that Saudi Aramco has informed at least seven customers in Asia that they will get full contract volumes of crude oil in November before the peak winter se...
Eni Cuts Back on 2020 Targets
Italian company Eni has adjusted the company’s financial outlook for the coming year and has announced capital expenditure (Capex) cuts of EUR 2.3 billion for 2020, according to a press release. The company’s outlook...
Oil Minister: Iraq is in Compliance with Production-Cut Agreement
Iraq’s crude oil production fell to 4.32 million barrels per day (b/d) in August, the Iraqi Oil Minister, Jabbar El Luaibi said, according to Bloomberg. This production figure puts Iraq into compliance with the produc...
Saudi Arabia to Reduce Crude Oil Cuts to 350,000 b/d for October
Saudi Arabia will cut its exports of crude oil by 350,000 barrels per day (b/d) during the month of October, an industry source told Reuters. This cut, if it goes into effect, would be in line with industry expectatio...
Kuwait Promises to Reduce Oil Production, Following UAE
Kuwait is promising to decrease its oil production in response to Saudi Arabia’s call for fellow members of the Organization of the Petroleum Exporting Countries (OPEC) to cut more supply in order to aid in restrainin...
Iraq, Algeria Signal Consensus on OPEC Cuts
The Organization of Petroleum Exporting Countries (OPEC) and other major oil exporters, which are currently taking part in output reduction, have reached consensus to extend the limits of cuts until the end of 2017, Z...
China’s Oil Giants Take Spending Cuts Deeper
After chopping spending by more than 30% to cope with a crash in oil prices and billions in writedowns that sent profits to the weakest since last decade, China’s energy giants are cutting even deeper, RigZone reporte...Page 1 of 1
