OPEC to Discuss New Output Deal Metrics
The Organization of the Petroleum Exporting Countries (OPEC) may consider new metrics for the global oil output cuts.
OPEC non-OPEC production cuts | Egypt Oil & Gas
Iraqi Oil Production Hits Highest Level since 2017
Iraq's crude oil production increased to 4.62 million per day (b/d) in July, recording its highest level since January 2017.
Saudi Oil Exports to China Hit Record Level
Saudi Arabia’s crude oil exports to China soared to 1.74 million barrels per day (b/d) in July, while shipments to the US tumbled to 161,000 b/d compared with 1.03 million b/d a year earlier.
Saudi Arabia Renews Commitment to Output Cuts
The Saudi Minister of Energy, Khalid Al-Falih has discussed with his Russian counterpart the recent developments in global oil markets.
OPEC Production Hits 5-Year Low
OPEC produced 29.6 million per day (b/d) in June, down by 170,000 b/d compared with May.
OPEC+ Extends Oil Output Cut Agreement
The decision extends the deal to reduce crude oil output by 1.2 million barrels per day until the end of March 2020.
OPEC Extends Production Cuts to March 2020
The Organization of the Petroleum Exporting Countries (OPEC) has agreed to extend oil production cuts until March 2020, during their summit in Vienna.
Saudi Arabia, Russia Agree on Extending OPEC+ Deal
Saudi Arabia and Russia have agreed to extend the OPEC-led crude oil production cuts by another six to nine months.
Russian Oil Output Rises to 11.15 M b/d
Russia’s oil output has increased during June, reaching an average of 11.15 million barrels per day (b/d).
Iranian Oil Exports Fall to 300,000 b/d in June
Iran’s exports of crude oil have further declined to 300,000 barrels per day (b/d) or even less in June, down from 400,000-500,000 b/d a month earlier.
