OPEC | Egypt Oil & Gas

El Molla, OPEC Secretary General Discuss Energy Market Developments at COP27

Minister of Petroleum and Mineral Resources Tarek El Molla met with OPEC Secretary General Haitham Al Ghais to discuss the developments in energy markets in light of the many global challenges the international co ...

OPEC Cuts 2022, 2023 Oil Demand Growth Forecasts Amid Slowing Economy

For the fourth time since April, OPEC reduced its projection for the rise in global oil demand in 2022 and lowered its estimate for the following year, citing weakening economies, the revival of China's COVID-19 c ...

Saudi Aramco to Continue Full Oil Supplies to Asia in November Despite OPEC+ Cuts

Several people with knowledge of the situation said on Monday that Saudi Aramco has informed at least seven customers in Asia that they will get full contract volumes of crude oil in November before the peak winte ...

OPEC+ Considers Cutting Oil Production by Over 1 mmbbl/d

According to OPEC sources, OPEC+ may consider reducing oil production by more than 1 million barrels per day the following week in order to address the weakness in oil market. This would be the largest action take ...

OPEC Sticks to Its Strong Oil Demand Growth Forecasts for 2022, 2023

OPEC maintained its predictions for strong growth in global oil demand in 2022 and 2023, citing indications that major economies were performing better than anticipated despite challenges including rising inflatio ...

Russia Opposes Any Potential OPEC+ Oil Output Cut

Sources talking to the Wall Street Journal stated that Russia does not favor a reduction in oil production at this time and that it is probable OPEC+ will maintain its output.

Iraq’s Oil Production Increases by Almost 70,000 bbl/d in July

According to data from the state-owned marketer SOMO seen by Reuters on Wednesday, Iraq produced 4.584 million barrels of crude oil per day (mmbbl/d) in July, up 69,000 from June.

OPEC+ Approves Modest Rise in Oil Output

At a time when high oil prices and unstable energy supplies have been exacerbated by Russia's war on Ukraine, OPEC and its allies decided to slow production growth in September.

OPEC Secretary General Says Russia’s Membership in OPEC+ Crucial

OPEC's new secretary general stated that Russia's membership in OPEC+ is vital to the agreement's success, Kuwait's Alrai newspaper reported on Sunday.

Saudi FM: OPEC+ Will Do What is Necessary After Assessing Market Conditions

OPEC+ will continue to assess market conditions and do what is necessary as a result of a US-Arab summit on Saturday, according to Saudi Arabia's foreign minister, Reuters reported.

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