OPEC+ Challenges Trump, Maintains Production Cuts
OPEC+ agreed on Monday to maintain their policy on production cuts and gradually raise output as planned starting in April, despite President Trump’s calls for lower prices.
Oil Prices | Egypt Oil & Gas
G7-Led Coalition Sets Price Cap on Russian Oil Products
The Group of Seven wealthy nations (G7), the European Union and Australia have set price caps for Russian diesel and other refined petroleum products in order to maintain market supply while reducing Moscow's inco ...
El Molla Calls for Innovative Approaches to Increase Petroleum Production
Minister of Petroleum and Mineral Resources Tarek El Molla affirmed that the current period needs innovative solutions and efforts to increase petroleum production amidst high global oil prices and the sector’s co ...
NIOC Announces Iran Crude Oil Prices for September Delivery
The cost of light crude oil, heavy crude oil, and Forouzan crude for sale in September has been fixed by the NIOC's international affairs division at $9.50, $6.30, and $6.40, respectively, over the average oil pri ...
Maait: Oil Price Hikes Could Cost Egypt an Additional $7.2B
Minister of Finance Mohamed Maait said that the high prices of oil will cost Egypt an additional $7.2 billion to the annual costs of the oil imports which the government will have to take into consideration in its ...
El Molla: Oil Prices Will Get Corrected Towards End of 2022
The Minister of Petroleum and Mineral Resources Tarek El Molla has expected that the oil prices will be corrected towards the end of 2022.
Oil Prices Drop as Shanghai Goes into Lockdown
Global oil prices decreased as China implemented a lockdown in Shanghai, which is considered a major manufacturing and financial hub.
Oil Prices Decline As Russia Favors Iran Nuclear Deal Resumption
Oil prices has declined to the lowest level in three weeks after Russia’s announcement its favor of resuming Iran nuclear deal as soon as possible.
Germany Reconsiders Drilling Ban on Oil, Gas Wells in North Sea
In its struggle to secure energy supplies, Germany will have to reconsider its ban on allowing new drilling activities for oil and gas in the North Sea, Finance Minister Christian Lindner told Reuters.
Oil Prices Climb Over $100 as Russia Attacks Ukraine
Oil prices surged as Brent reached $102.48 a barrel, highest since Sept 2014, on February 24th as Russia attacked Ukraine.
