OPEC non-OPEC production cuts | Egypt Oil & Gas - Part 2

Russian Oil Production Hits 11-Month Low in May

Russia’s oil production fell in May to 11.11 million barrels per day (mb/d), down from 11.23 mb/d produced in April, its lowest level since June 2018, according to official data, Reuters reported. The main reason for ...

OPEC Nears Output Cut Extension

The Organization of the Petroleum Exporting Countries (OPEC) and its allies may prolong the production cut agreement as the market is still oversupplied, Pipeline Oil and Gas Magazine reported. “In analyzing current o...

Russia’s Gazprom Exports Decline by 8.4% YOY

Gazprom exported around 64.4 billion cubic meters (bcm) of natural gas to countries outside the former Soviet Union from January to April 2019, Zawya reported. Exports by the Russian giant declined by 8.4% in the firs...

Gulf OPEC Members to Raise Output in Case of Shortage

The Gulf members of the Organization of the Petroleum Exporting Countries (OPEC) plan to meet the oil market demand in case of a supply shortage, according to OPEC sources, Reuters reported. “The question is how fast ...

Russia to Be Committed to OPEC Oil Deal Cuts

Russia is committed to apply the oil supply cut agreement with the Organization of Petroleum Exporting Countries (OPEC) and its allies, according to the United Arab Emirates (UAE)’s Energy Minister, Suhail Al-Mazroui,...

Russia to Consider All Options on OPEC Deal

Russia is yet to take a final decision about whether it will be necessary to extend the current oil output cut deal with the Organization of the Petroleum Exporting Countries (OPEC) and its allies, according to Russia...

Russia to Raise Oil Output from June

Russia plans to change the supply deal with the Organization of the Petroleum Exporting Countries (OPEC) and increase its oil output upon meeting OPEC in June, Head of Russian Sovereign Wealth Fund RDIF, Kirill Dmitri...

OPEC Struggles to Keep Russia Longer in Oil Cuts

Saudi Arabia struggles in persuading Russia to stay longer with the Organization of Petroleum Exporting Countries (OPEC)’s strategy of oil cuts, sources familiar with the topic said, Reuters reported. Moscow has respo...

OPEC-Led April Meeting Postponed

The Organization of the Petroleum Exporting Countries (OPEC) and its allies have discussed canceling the summit that was supposed to be held in April but has been postponed to June 25-26, Reuters reported. The meeting...

OPEC’s Oil Output Decreases in February

The Organization of the Petroleum Exporting Countries (OPEC)’ oil output was reduced during February 2019, mainly because of the production cuts in Venezuela, Saudi Arabia, and Iraq, but that decline was balanced out ...

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