Egypt Starts Hedging Mechanism in FY 2018/19
The Egyptian government is taking a hedging mechanism against oil and food commodities price fluctuations in fiscal year (FY) 2018/19.
Oil Prices | Egypt Oil & Gas - Part 5
Egypt, Saudi Arabia Discuss Oil, Gas Opportunities
El Molla and Al-Falih met on the sidelines of the World Economic Forum on the Middle East and North Africa that is taking place in Jordan on April 6-7.
Iraq Plans to Reduce Oil Prices for Jordan
Iraq plans to reduce the price of oil traded to Jordan, in return for getting preferential tariffs on goods that Iraq receives from Jordan through Aqaba port.
Egypt Cancels Fuel Hedging Contracts
The Ministry of Finance has canceled plans to purchase fuel hedging contracts from international financial institutions.
Saudi Crude Production Hits Record Highs in Early November
Saudi Arabia's crude production hit record highs in early November following large orders made in early October in preparation for the loss of Iranian crude from the market.
GCC Economies to Recover in 2019 Due to Stable Oil Prices: Moody’s
The Gulf Cooperation Council (GCC) and Africa will experience higher economic growth in 2019.
Aramco May Cut Asia-Bound Crude Prices
Saudi Aramco could decrease the official selling price (OSP) differentials of crude oil bound for Asia in December, according to traders.
Oil Prices Increase Before US Sanctions Against Iran
Oil prices increased by 1% on October 31, a week before US sanctions are introduced against Iran's energy sector.
Finance Ministry to Allocate $80/Barrel of Oil in the 2019/20 Budget: Government Official
The Egyptian Ministry of Finance will calculcate the 2019/20 budget using a benchmark oil price of $80 per barrel.
OPEC to No Longer Release Specific Oil Prices to Avoid US Legal Risk: Reuters
OPEC has advised its members to not mention oil prices when discussing policy in order to avoid US legal action over manipulating the market, sources close to OPEC said.
