Oil Prices | Egypt Oil & Gas - Part 38

UAE: No Need to Rethink Oil Projects

The UAE will continue to push ahead with its planned oil sector projects despite lower crude oil prices, energy minister Suhail al-Mazrouei said Monday.

Energy Subsidies in Mena Region Drop by $60 billion

Energy subsidies in the Mena region have fallen by US$60 billion and could continue to decline should oil prices drop further, a senior IMF official has said.

Saudi: Falling Demand for Oil is Chief Concern

The world’s largest exporter has chosen not to cut production, counting instead on lower prices to stimulate consumption, said Mohammad Al Sabban

Nigeria Plans to Diversify Economy Due to Oil Prices

Falling oil prices are a wake-up call for oil producing countries to continue to diversify their economies and minimise spending, a top official from Nigeria has said.

Africa Oil Boom on Hold due to Crude Prices

The dash for resources that saw explorers invest billions of dollars to tap promising oil fields from Ghana on the west coast to Tanzania on the east, is stalling as the global drop in crude prices pushes drillers to ...

OPEC Decision Wrong: Iran, Venezuela and Oman Now Say

Oman, the biggest Middle Eastern oil producer that’s not a member of OPEC, joined Venezuela and Iran in questioning the group’s decision to keep its output target unchanged even with crude prices falling.

Iraq: Output Must Rise to Compensate for Price Drop

Iraq, the nation adding more new oil to global markets than any other supplier in OPEC, said it needs to boost production and exports of crude to compensate for collapsing prices.

Kurd Oil Boosting Supply at Low Prices

Oil producers in Iraqi Kurdistan are unrelenting in their goal to boost output even after the collapse in international prices to below $50 a barrel.

Low oil prices affecting African economy

The continued fall of crude oil prices on the international market may impact negatively on Africa's economic growth, the African Capacity Building Foundation (ACBF) said Friday.

Iran Blames Oil Prices for Delaying Saudi Visit

A meeting between the foreign ministers of OPEC’s Iran and Saudi Arabia was delayed in part due to discord over falling crude prices, said Hossein Amir-Abdollahian, Iran’s deputy foreign minister for Arab and African ...

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