Iran | Egypt Oil & Gas - Part 23
Kuwait Raises Output by 85,000 bpd
Kuwait started raising its oil output by 85,000 barrels per day (b/d) from July 1, in accordance with the recent agreement between OPEC and non-OPEC producers to increase production by 1 million b/d, according to Reut...
Oil Rises on Iran Supply Concerns
Oil prices rose on June 27 after US officials ramped up pressure on its allies to end imports of Iranian crude by November, Reuters reported. Brent crude futures reached $76.61 per barrel at 08:00 GMT, 30 cents higher...
OPEC, Russia Agree to Raise Production
OPEC has agreed with Russia and other non-OPEC producers to raise oil production from July, Reuters reported. Saudi Arabia stated that the increase will be “measurable” but did not give specific numbers or quotas. OPE...
Oil Falls 2% Ahead of OPEC Meeting
Oil prices fell on June 21 as producers prepared to discuss the lifting of production cuts at the biannual OPEC meeting on June 22 in Vienna, Reuters reported. Benchmark Brent crude fell more than 2% to a low of $72.9...
Iran Rules Out Agreement at OPEC Meeting
The Iranian oil minister has stated that a deal on oil output at the June 22 OPEC meeting in Vienna is unlikely, setting the stage for a clash with Russia and Saudi Arabia, who are pushing to curb the current producti...
Iraq Opposes Calls for OPEC Production Boost
Iraqi oil minister Jabar al-Luaibi released a statement on June 11 in which he warned producers against being pressured to boost output levels, adding that unilateral decisions could collapse the OPEC and non-OPEC sup...
Russian Firms to Bid for Iranian Shadegan Oil Field
Two Russian firms are reportedly preparing bids and technical proposals to develop the Shadegan oil field in southern Iran, according to Trend News Agency. “Within the next two to three months, it will be certai...
Iran to Boost Crude Output by 460M barrels Over 3 years
Iran is planning to increase its oil production by 460 million barrels over the next three years, according to oil minister Bijan Zanganeh, Reuters reported. Zanganeh outlined the plan to increase output from 29 oilfi...
