OPEC cuts | Egypt Oil & Gas - Part 2
Russia to Decrease July Oil Exports After Rise in Domestic Demand
Russia is set to further reduce its overseas supply of Urals Crude oil in July due to an unexpected spike in domestic demand as COVID-19 restrictions ease, according to Reuters. “Demand for gasoline is ramping up fast...
Norway Not to Extend Oil Output Cut in July
Europe’s largest oil producing nation, Norway, has no plans to further extend the record OPEC+ production cuts in July, according to Reuters. At present, Norway is complying with the OPEC+ deal by cutting output by 25...
Oman to Slash July Output by 200,000 bbl/d
Oman has announced that it is to dramatically reduce the Sultanate’s oil production by 200,000 barrels of oil per day (bbl/d) in July to comply with the record oil cuts that were extended for another month, according ...
OPEC Agrees to Prolong Record Oil Production Cuts to July
The Organization of the Petroleum Exporting Countries (OPEC) held its 11th ministerial meeting on June 6 and agreed to extend record oil production cuts until the end of July, according to a press release. The OPEC m...
Russia’s Oil Production Nearing Compliance with OPEC+ Cuts
Russia’s oil production fell to between 8.59 – 8.69 million barrels per day (mmbbl/d) in May, nearing Moscow’s previous pledge of reducing production to 8.5 mmbbl/d, according to Reuters. Under the OPEC+ agreem...
