U.S. Rigs Face Significant Drop Amid Cuts

• Monday, 22nd May 2023
• by Israa Ibrahim

Baker Hughes announced that U.S. energy firms have cut 11 oil rigs during the week ending on May 19, the biggest cut in oil rigs since September 2021, Reuters reported. The report elaborated that U.S. oil rigs fell by...

OPEC+ Decisions Could Curb Oil Supply by 20%

• Monday, 13th April 2020
• by Editorial Team

The Organization of the Petroleum Exporting Countries and its allies (OPEC+)  announced on April 12 a record oil deal that will cut oil production by 10 million barrels per day (mmbbl/d) effectively from May 1 through...

Nigeria Mulls Extending Exemption from OPEC Deal

• Sunday, 7th May 2017
• by

Nigeria is aiming to extend another six months of exclusion from the oil production reduction plan set by the Organization of Petroleum Exporting Countries (OPEC),  All Africa reported. The Minister of State for Petro...