oil glut | Egypt Oil & Gas

OPEC Lowers 2020 Oil Demand Predictions

The Organization of the Petroleum Exporting Countries (OPEC) has further lowered its forecast on oil demand due to the coronavirus pandemic and there are also doubts about 2021's recovery.

Libya, Nigeria May Adjust Oil Output

Libya and Nigeria, exempt from global oil cuts, may attend a joint meeting between members of the Organization of the Petroleum Exporting Countrys (OPEC) and non-OPEC nations late July as oil producers look for ways ...

OPEC Might Adjust Oil Cut Deal

OPEC delegates were encouraged by Russia to change the OPEC-led deal to cut oil supplies, opening the door to clear the global supply glut.

Iraq Exports 592m Barrels of Oil in 1H 2017

Iraq exported more than 592m barrels of oil since January, according to the Oil Marketing Company SOMO.

Kuwait Oil Exports to Japan Increase 10.2% in May

Kuwait boosted crude oil exports to Japan by 10.2% in May, which is the first growth in four months.

Saudi Maintains Near-Record Crude Output

Saudi Arabia keeps pumping at near-record levels to defend sales in Asia, its biggest market, amid an increase in global supply. In addition, Saudi Aramco, the state-run oil giant, said that both its drilling and IPO ...

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 ...

Iran Nuke Deal Reached, Governments and Corporations Measure Ramifications

Iran and six world powers reached an agreement on Tuesday to lift sanctions against the Islamic Republic, and while U.S. and Iranian leaders have heralded the deal as a victory, the real winners could be corporations ...

Balancing Physical Risks and Financial Gains Posed by Excess US Oil Storage

Just as Wall Street says the U.S. is running out of room to store oil, it turns out there’s another 20 million barrels of empty space.

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