OPEC non-OPEC production cuts | Egypt Oil & Gas - Part 3

UAE to Continue Oil Supply Cuts

The UAE plans to continue crude oil supply cuts until the market is re-balanced again.

Decision on OPEC Output Deal Expected in June

OPEC and its allies will not determine their output policy in April to reconsider the full impacts of their production cuts on the market.

OPEC Oil Output Decreases in January 2019

The Organization of the Petroleum Exporting Countries (OPEC) has reduced its oil production in January 2019 by 890,000 barrels per day (b/d).

OPEC Reduces Oil Production in December 2018

In December 2018, the output declined by 751,000 barrels per day (b/d), reaching 31.58 million b/d.

Algeria to Reduce Oil Output as Part of OPEC Deal

Algeria has reduced its oil output by around 24,000 to 25,000 barrels per day (b/d) starting from January 1.

Energy Market to Achieve Balance: UAE Energy Minister

Suhail Al-Mazrouei, UAE Energy Minister, said on January 1 that he is optimistic about achieving market balance during Q1, 2019.

OPEC Secretary-General: Oil Consumption to Hit 100M b/d This Year

Global oil demand is expected to reach 100 million barrels per day (b/d) later this year, much earlier than previously expected, OPEC Secretary-General Mohammad Barkindo stated on September 5.

Iraq Opposes Calls for OPEC Production Boost

Iraqi oil minister Jabar al-Luaibi released a statement on June 11 in which he warned producers against being pressured to boost output levels, adding that unilateral decisions could collapse the OPEC and non-OPEC ...

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