OPEC cuts | Egypt Oil & Gas
Libya’s Oil Production Exceeds 1.2 mmbbl/d
Libyan oil production has now reached a new high after the country recorded 1.215 million barrels per day (mmbbl/d), as the OPEC member’s oil industry recovers faster than expected, according to Reuters. This comes on...
OPEC Mulls Deeper Output Cuts in 2021
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are looking into the possibility of further cuts early next year in an effort to try and revitalize the oil market, according to Reuters. Th...
Saudi Oil Production Remains Steady in September
Saudi Arabia, the world’s largest oil producer, has reduced its crude oil production by only 14,000 barrels of oil per day (bbl/d) when compared with August’s figures, keeping output at a steady pace, according to Blo...
Iraq Asks KRG to Cut Production by 120,000 bbl/d
Iraq’s federal government has requested that the Kurdistan Regional Government (KRG) cut its oil production by 120,000 barrels per day (bbl/d), according to Reuters. At present, the semi-autonomous Kurdistan Region of...
Iraq Denies OPEC+ Deal Exemption Reports, Affirms Commitment to Deal
Iraq has refuted claims that it was seeking an exemption from the OPEC+ reduction pact during Q1 2021 and has reaffirmed its commitment to the deal, according to Reuters. A spokesman on behalf of the Iraqi oil ministr...
Iraq’s Gharraf Oil Field Resumes Production
The Malaysian oil company, Petronas, has restarted production at Iraq’s Gharraf oil field at a rate of 50,000 barrels of oil per day (bbl/d) after a forced shutdown in March due to the pandemic, according to S&P G...
Production Restarts at Wafra Oilfield
Crude oil production resumed on July 1 at the Wafra oilfield, which is a joint venture between Kuwait and Saudi Arabia, according to a tweet from the Kuwait oil ministry. Initial output at the Wafra oilfield is expect... Iraq’s Oil Exports Fall 9%, Still Exceeding OPEC Quota
Iraq’s oil exports fell by circa 9% or 310,000 barrels per day (bbl/dd) in June, meaning that Iraq has fulfilled about three-fifths of its pledge to the OPEC+ production deal, according to Reuters. Southern Iraqi expo...
