oil production cuts

Norway Cuts Production by 120,000 bbl/d in July

Norway’s government has released the official production figures for the Norwegian Continental Shelf in July, showing a 120,000 barrels of oil per day (bbl/d) reduction compared to the reference production.

Kuwait to Voluntarily Further Reduce Production by 80,000 bbl/d

Kuwait’s oil minister, Khaled Al-Fadhel, announced that Kuwait will support the Kingdom of Saudi Arabia’s efforts to restore stability to oil markets by cutting production by 80,000 barrels per day (bbl/d).

OPEC to Extend Production Cuts Until Year- End

The Organization of the Petroleum Exporting Countries (OPEC) could extend its oil production cuts until the end of 2020.

Aramco, Sempra Deal Indicates Saudi Commitment to Output Cuts

Saudi Aramco’s deal with Sempra Energy, a US gas export project, indicates the Kingdom’s commitment to continue supporting oil production cuts.

OPEC Oil Output Decreases in January 2019

The Organization of the Petroleum Exporting Countries (OPEC) has reduced its oil production in January 2019 by 890,000 barrels per day (b/d).

S. Arabia Cut Oil Output by 486,000b/d

Saudi Arabia has cut its crude-oil production by at least 486,000b/d since October, bringing the world’s largest exporter of petroleum swiftly into line with OPEC’s deal to raise prices.

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