Oil Price | Egypt Oil & Gas

Egypt Raises Oil Price Estimates to $85/bbl in 2023/24

Egypt raised its estimate of the price of a barrel of Brent oil in the budget for the current fiscal year (FY) 2023/24 by about 6.25% to $85.

Oil Prices Surge as Iran Sanction Waivers End

The US will no longer be giving any waivers to current Iranian oil buyers who were allowed in 2018 to purchase oil from Iran without sanctions.

Trading Firm Trafigura Sees $100 a Barrel by 2019

Oil prices could reach $90 a barrel by Christmas and rise further to $100 a barrel before the new year, Trafigura’s Co-Head of Oil Trading Ben Luckock told a conference on September 24.

Oman Crude Sees $6 Rise in One Day

The price of Omani crude oil crossed the $88 mark on September 26 for the first time in four years, a $6 jump from the day before.

Algeria Crude Exports Down 2.8% in Q1 2018

Algeria’s oil and gas exports fell 2.8% year-on-year (YOY) in Q1 2018 due to higher domestic consumption and lowered production.

Oman Production Reaches 30M barrels in August

Oman produced 30.21 million barrels of crude oil and condensate in August, averaging 974,500 barrels per day (b/d).

Government Official: Egypt Signs Oil Hedging Deals with Citibank and J.P. Morgan

Egypt has signed hedging contracts with American banks J.P. Morgan and Citibank to secure against fluctuating oil prices, according to a government official.

Egypt Pays $75 a Barrel to Import Fuel

The Egyptian government announced in an official document that fuel imports cost $75 per barrel.

Oil Reaches $80 for First Time since November 2014

Oil prices reached $80 a barrel on May 17, driven by concerns over falling supplies due to renewed US sanctions on Iran.

Kuwaiti Oil Price Increases by 0.5%

Kuwait’s oil price has increased by 0.525% in the past few days.

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