OPEC Cuts 2026 Oil Demand Forecast Amid Strait of Hormuz Closure

• Thursday, 14th May 2026
• by Fatma Ahmed

OPEC reduced its forecast for global oil demand growth in 2026, citing the impact of the ongoing war in Iran that has effectively shut the Strait of Hormuz, a critical global oil transit route. The closure has cur ...

Nigeria Maintains Oil-Revenue Forecast Despite Decline

• Tuesday, 17th May 2016
• by Egypt Oil & Gas

Nigeria maintained revenue forecast for this year’s budget based on daily oil production of 2.2m barrels despite output falling over the April, reaching a 22 year low currently.

Low Oil Prices Forces IMF to Cut Global Growth Forecast Again

• Wednesday, 13th April 2016
• by Egypt Oil & Gas

The International Monetary Fund (IMF) has cut its outlook for 2016 economic growth for the fourth time in the past year, citing low oil prices, China’s slowdown and chronic weakness in advanced economies.

Angola Sees Oil Output Rising Slightly in 2016

• Monday, 23rd November 2015
• by Egypt Oil & Gas

Angola will produce an average of 1.89m barrels per day of crude oil next year, according to budget projections.