Oil Prices | Egypt Oil & Gas - Part 2
Oil Prices Drop Below $100 As Ceasefire Deal Signals Hormuz Reopening
Oil prices declined sharply below $100 per barrel on April 8, after US President Donald Trump announced a provisional two-week ceasefire agreement with Iran, contingent on the immediate and secure reopening of the Str...
OPEC+ Challenges Trump, Maintains Production Cuts
OPEC+ agreed to maintain their policy on production cuts and gradually raise output as planned starting in April, despite President Trump’s calls for lower prices. Trump laid out his energy policy agenda in his addres...
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 in...
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 commit...
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 p...
Maait: Oil Price Hikes Could Cost Egypt an Additional $7.2B
Minister of Finance Mohamed Maait said that Oil prices staying at $122 per barrel will cost Egypt an additional $7.2 billion to the annual costs of the oil imports which the government will have to take into considera...
El Molla: Oil Prices Will Get Corrected Towards End of 2022
In an interview with CNBC on the sidelines of the World Economic Forum held in Davos, Minister of Petroleum and Mineral Resources Tarek El Molla stated that he expects that the oil prices will be corrected towards the...
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, BBC reported. Brent crude prices fell by over $4.50 per barrel as the lockdown inst...
