oil market | Egypt Oil & Gas

El Molla Discusses Developments in Oil Markets with OPEC Secretary General

In a meeting held on the sidelines of his participation in the World Economic Forum in Davos, Minister of Petroleum and Mineral Resources Tarek El Molla expressed Egypt’s appreciation to OPEC Secretary-General Moh ...

Saudi Aramco’s Profit Declines 73% in Q2

The major Saudi oil company, Aramco reported that its profit declined by 73% to 24.6 billion riyals in the second quarter of 2020 compared to 92.6 billion during the same period of the previous year  , because of ...

Six Arab Countries Reassert Compliance to OPEC+ Deal

The oil Ministers of Saudi Arabia, UAE, Kuwait, Oman, Iraq, and Bahrain reconfirmed their full support for OPEC+ agreement of cutting oil production in order to further speed up rebalance of oil markets.

Brooge Energy Delays Issuance of Dividends

Brooge Energy Limited, a midstream oil storage and service provider in the UAE, has announced delay in issuance of dividends due to the market uncertainty.

Algeria Unaffected by Fall in Oil Prices 

Algerian Minister of Energy, Mohamed Arkab, said that Algeria has the means and resources necessary to overcome the world oil crisis and that the recent fall in oil prices has not impacted Sonatrach’s activity.

Libya’s Disruptions Not to Affect Global Oil Market

Despite having some disruptions in Libya’s oil market, the global market will not be affected.

OPEC Forecasts Lower Demand for Crude Oil

The Organization of Petroleum Exporting Countries (OPEC) forecasts a lower demand for crude oil despite the increase in global demand after a US-China trade deal.

Oil Market to Balance by End-2019

The Kuwaiti Oil Minister expects the market to achieve balance by the end of 2019, yet OPEC will continue to work on maintaining stability.

Current Oil Prices Are Fair: Kuwait Deputy Oil Minister

The oil market is balanced, and current oil prices are fair, according to Talal Al-Sabah, Kuwait’s Acting Deputy Oil Minister.

Iraqi Oil Minister Visits Saudi Arabia

Iraqi Oil Minister, Jabar El Luaibi, visited Saudi Arabia on August 8th to discuss the oil market and OPEC's efforts to stabilize prices.

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