Oil Price | Egypt Oil & Gas - Part 2

Iraq Changes Course on Price Benchmarks

Iraq is reconsidering its previously announced plan to switch its price benchmark for Asian-bound crude from the Platts’ Oman-Dubai average to DME Oman futures.

US Oil Prices Sink Below $50

The US price of crude oil is hovering under $50 per barrel despite this week's meeting of oil producers in Abu Dhabi to discuss compliance with January's production-cut agreement.

Saudi Heavy Crude Price to Asia to Increase by August

Saudi Arabia is aiming to raise prices for its exported heavy crude to Asia by August to the highest level in more than three years.

Al-Mazrouei: No Need for Extraordinary OPEC Talks

"No one is talking about extraordinary. We are at the beginning of the agreement, I think we need to give it a little bit of time," the United Arab Emirates Energy Minister, Suhail bin Mohammed al-Mazrouei, said,

OPEC Signals Oil Output Cut Extension

The Saudi Oil Minister stated that oil producers would "do whatever it takes" to rebalance the market.

Oil Drops to $45 Despite OPEC Deal

Oil hovered around $46 per barrel in New York, back to levels last seen before the OPEC deal to cut production.

OPEC Lost $1t to Slump in Prices

The Organization of Petroleum Exporting Countries’ (OPEC) Secretary-General, Mohammed Barkindo, explained the amount was lost in terms of deferred projects and outright cancellation of projects across its entire valu ...

Russia’s Rosneft Dismisses OPEC as Regulator

Head of Russia's top oil producer Rosneft said that Saudi Arabia, the United States and Russia were the three main players on global oil markets and the role of OPEC was evaporating.

Iran Accuses OPEC Members of Dumping Oil Prices

Iran's Oil Minister, Bijan Zanganeh, accused the regional neighbors and OPEC friends of trying to take away its customers by offering cheaper oil.

Nigeria: Subsidy Removal will Attract Foreign Investment

Nigeria's Minister of State for Petroleum Resources, Ibe Kachikwu, defended the new fuel price regime saying it would encourage massive investment in infrastructure by attracting Foreign Direct Investment.

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