Oil Reduction | Egypt Oil & Gas

U.S. Rigs Face Significant Drop Amid Cuts

Baker Hughes announced that U.S. energy firms has reduces 11 oil rigs this week, which is the biggest oil rigs reduction since September 2021. The oil and gas rig count, which is treated as an early indicator of f ...

OPEC+ Decisions Could Curb Oil Supply by 20%

The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced yesterday to cut oil production by 10 million barrels per day (mmbbl/d) effectively from May 1 through June 30, curbing global ...

Nigeria Mulls Extending Exemption from OPEC Deal

Nigeria’s exclusion was due to the production challenges that the country was facing after the militant attacks on the country's oil facilities.

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