Halting Libya’s Production Leads to Oil Price Surge
Oil prices witnessed a surge on January 20 after Libya's El Shahara and El Feel oilfields have been shut down, leading to halving the country's production.
Oil Prices | Egypt Oil & Gas - Part 4
Oman’s Crude Oil Production Reaches 29.18 MM Barrels in September
Oman’s total production of crude oil and condensates reached around 29.18 million barrels, with a daily average of around 972,750 barrels in September.
Egypt Plans More Oil Hedging Contracts
The Egyptian government is planning to double the number of crude oil hedging contracts for fiscal year (FY) 2019/20.
Aramco Lowers Prices for Asian Markets in August
Prices for Asia are affected by the monthly average price of Platts Dubai and the Oman Dubai Mercantile Exchange (DME).
Egypt to Hedge Oil Prices in FY 2019/20
Egypt plans to apply an oil hedging mechanism in fiscal year (FY) 2019/20 that starts in July after its efforts to lock-in oil prices in the FY 2018/19.
Egypt to Amend Oil Hedging Mechanism
The petroleum and finance ministries are adjusting the hedging mechanism for fiscal year (FY) 2019/2020 in line with recent global oil prices.
Oil Could Drop to $30 Due to Supply Glut
Russia is growing concerned of a scenario that could see crude oil prices drop to as low as $30 a barrel if the OPEC-led output deal is not extended.
Oil Prices Surge 2%, Brent Restores $70 Level
Concerns regarding crude supplies as well as the geopolitical tensions in the Middle East led to a surge in the global oil prices by more than 2%.
Egypt Sets Oil Price at $68 in 2020 Budget
The budget for fiscal year (FY) 2019/20 estimates oil prices at $68 per barrel, down from $70 of in FY 2018/19.
Current Oil Prices Are Fair: Kuwait Deputy Oil Minister
The oil market is balanced, and current oil prices are fair, according to Talal Al-Sabah, Kuwait’s Acting Deputy Oil Minister.
