global oil prices | Egypt Oil & Gas

Egypt to Purchase Insurance Against Oil Price Fluctuations

The Egyptian cabinet has announced that the country will purchase insurance contracts from international financial institutions to hedge against fluctuating global oil prices.

Oil Markets Edge Upward

Global oil markets witnessed higher prices for a second month after the US crude market tightened following a renewed calls for the US to sanction Venezuela’s oil industry.

OPEC Agreed on Output Cuts

Crude oil prices steadied around $50 a barrel, holding onto big gains made after the Organization of Petroleum Exporting Countries (OPEC) and Russia agreed to restrict production.

Riyadh and Moscow Propose to Freeze Oil Output

Oil ministers of Saudi Arabia and Russia, Ali Al-Naimi and Alexander Novak, held talks in Qatar on 16th February to discuss the oil market amid a push for cooperation between OPEC and other major producers to tackle ...

Venezuela, Saudi Talks Promise No Oil Supply Cuts

Venezuela and Saudi Arabia held talks about mutual cooperation between OPEC members to stabilize the global oil market currently flooded with a surplus of 2mb/d.

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