Increase | Egypt Oil & Gas
UAE Crude Output Climbs Above 3.8 mmbbl/d in June After OPEC Exit
The UAE increased its crude oil production to more than 3.8 million barrels per day (mmbbl/d) in June, reaching its highest level since April 2020 after withdrawing from OPEC and OPEC+ production quotas, Reuters repor...
Kuwait’s Crude Oil Output Climbs 184.5%
Kuwait’s crude oil output surged by 184.5% month on month (M-o-M), reaching 1.65 million barrels per day (mmbl/d) in June 2026, a source familiar with the matter said on June 30, as the Organization of the Petroleum E...
OPEC+ Raises Output Targets Amid Strait of Hormuz Crisis
OPEC+ approved a fourth consecutive hike in its oil output targets, even as the ongoing US conflict with Iran continues to block several member states from raising production, Reuters reported. The war has stopped oil...
Russia’s Oil and Gas Tax Revenue Rises 32.4% in May on Higher Oil Prices
Russia’s oil and gas tax revenue rose by 32.4% year-on-year (YoY) in May to 678.9 billion roubles ($9.3 billion), supported by higher global oil prices amid escalating tensions in the Middle East, according to data re...
US Energy Storage Jumps 32% to Q1 Record
US energy storage developers added 9.7 gigawatt-hours (GWh) of new battery capacity in the first quarter (Q1) of 2026, the highest level ever recorded for a quarter, with a 32% year-on-year (YoY) increase, Reuters sai... OPEC+ Members Adjust Output, Reaffirm Market Stability Commitment
Seven OPEC+ countries, Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman, convened virtually on May 3 to assess global oil market conditions and outlook. The meeting resulted in a collective decision t...
Venezuela’s Oil Exports Reach Highest Level in Over Seven Years in April
Venezuela’s crude oil exports rose by 14% month-on-month to around 1.23 million barrels per day (mmbbl/d) in April, marking the highest level recorded in more than seven years, according to shipping data and documents...
TotalEnergies Exceeds Market Expectations with 29% Earnings Surge in Q1 2026
TotalEnergies reported a 29% increase in first-quarter (Q1) adjusted net income on April 29, reaching $5.4 billion and exceeding the $5 billion anticipated by analysts, according to Reuters. The French energy major bo...
