oil supply

Sinopec’s Refineries Sustain “Fairly High” Production Level Amid Supply Disruption

Ma Yongsheng, Sinopec's chairman, stated that the company’s refineries are operating at “fairly high” level to secure steady fuel supply in the country amid global oil supply disruption due to Russian’s invasion t ...

GCC Countries Cooperating to Stabilize Oil Market

Arabian Gulf countries are working to strengthen their coordination in supplying crude oil to global markets, especially amidst increased regional tensions.

Aramco to Boost Oil Supply to Europe

Saudi Aramco plans to expand its trading operations in Europe by increasing oil supply by 300,000 barrels per day (b/d) over the next two years.

OPEC to Agree Oil Supply Monitoring Mechanism: Kuwait Minister

OPEC and non-OPEC petroleum producing countries will agree to introduce a mechanism for monitoring crude oil production before the end of 2018, Kuwaiti Oil Minister Bakheet Al-Rashidi stated.

Oil Shortage Might Lead to Investments, Discoveries Decline

The world might face an oil supply shortage following a steep drop in investments and a scarcity of fresh conventional discoveries, Saudi Aramco's CEO, Amin Nasser, stated.

OPEC will not Rush into Further Output Cuts

OPEC will not rush into making a further cut in oil output or end some countries' exemptions to output limits.

OPEC, Russia Shielding Asia from Supply Cuts

OPEC and Russia are shielding Asia from supply cuts agreed in a landmark deal in 2016 as they fight to protect their share of the world's biggest and fastest growing oil market.

Zimbabwe to Import Fuel for High Demand Season

The Reserve Bank of Zimbabwe (RBZ) has signed a deal with local petroleum giant, Sakunda Holdings, for the importation and supply of fuel in the country.

OPEC Output at Record High in June

The Organization of the Petroleum Exporting Countries' (OPEC) oil output has risen in June to its highest in recent history as Iran and the Gulf member states boosted their oil supply.

Iran in Talks with Shell over Oil Supply to South Africa

Iran will provide oil needed for some Shell refineries in South Africa once an agreement has been made, National Iranian Oil Company's (NIOC) International Affairs Director, Mohsen Qamsari, said, announcing that talk ...

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