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

Russian Oil Production Hits 11-Month Low in May

Russian crude oil production has declined to its lowest level since June 2018, reaching 11.11 million barrels per (mb/d) in May.

OPEC Nears Output Cut Extension

The Organization of the Petroleum Exporting Countries (OPEC) and its allies, led by Russia, may continue the production cut agreement as the market is still oversupplied.

Russia’s Gazprom Exports Decline by 8.4% YOY

The Russian natural gas producer exported around 64.4 bcm to countries outside the former Soviet Union from January to April.

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.

Russia to Be Committed to OPEC Oil Deal Cuts

Russia is committed to apply the oil supply cut agreement with the OPEC and its allies, according to UAE’s Energy Minister, Suhail Al-Mazroui.

Russia to Consider All Options on OPEC Deal

Russia has not taken its final decision on extending the crude oil output cuts, as per the OPEC-led agreement.

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.

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.

OPEC-Led April Meeting Postponed

The meeting might be canceled to assess the impact of the production cuts on the market especially under US sanctions on Iran and Venezuela

OPEC’s Oil Output Decreases in February

The OPEC members produced around 30.55 million barrels per day (b/d) in February, down by 221,000 b/d from a month earlier.

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