OPEC | Egypt Oil & Gas

OPEC SG Urges Increase in Oil Production Due to Optimistic Demand Outlook

OPEC Secretary General Haitham Al Ghais stated that OPEC is optimistic about demand and asserts the necessity to increase production, Reuters reported.

OPEC’s JMMC Reaffirms Commitment to DoC

The 49th Meeting of the Joint Ministerial Monitorings Committee (JMMC) of the Petroleum Exporting Countries Organization (OPEC) was held on Friday, 04 August 2023, via videoconference.

Iran’s Oil Production Reached 2.87 mmbbl/d in May 2023

The International Energy Agency (IEA) has announced that Iran has recorded oil production reached 2.87 million barrels per day (mmbl/d) in May 2023.

OPEC Secretary General: Global Energy Demand to Rise 23% by 2045

OPEC, Organization of the Petroleum Exporting Countries, anticipates that global energy will increase by 23% by 2045 and overall demand will surge to 110 million barrels per day, according to Haitham Al Ghais, OPE ...

Japan, OPEC to Organize High-Level Dialogue

Japan and the Organization of the Petroleum Exporting Countries (OPEC) have decided to organize a dialogue between senior officials, Nikkei reported.

KSA Energy Minister: OPEC+ Working Against ‘Uncertainities and Sentiment’

Saudi Arabia's energy minister Prince Abdulaziz bin Salman that the most recent OPEC+ deal included fundamental reforms but also aimed to combat "uncertainties and sentiment" in the market,

OPEC Secretary General: Underinvestment Could Cause Market Volatility

Underinvestment in the oil and gas sector could cause long-term market volatility, stated Haitham Al Ghais, OPEC Secretary General, in a report from Reuters.

OPEC+ Sees No Need for Further Oil Output Cuts: Russian Deputy PM

OPEC+, the Group of leading oil producers, saw no need for further oil reductions despite lower-than-expected Chinese demand, but that the organization can always adjust its policy if necessary, according to Russi ...

IEA’s Birol Warns of Tight Global Oil Market in H2 2023

The surprising announcement of OPEC+ to implement voluntary production cuts of 1.66 million barrels per day from May until the end of the year could cause tightness in the second half of this year, according to Fa ...

Saudi Arabia Maintains Crude Supply to Asian Refiners Despite OPEC+ Cuts

Despite OPEC+’s surprising announcement last weak about extra production cut of 1.16 million barrels per day from May for the rest of the year, Saudi Aramco will maintain the same crude volumes supply to several N ...

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