The oil Ministers of Saudi Arabia, UAE, Kuwait, Oman, Iraq, and Bahrain reconfirmed their full support for OPEC+ agreement of cutting oil production in order to further speed up rebalance of oil markets.
The Organization of the Petroleum Exporting Countries and its allies (OPEC+) are set to ease the record 9.7-million barrels per day (mmbbl/d) production cuts as of August as demand has seen a continual rise, Saudi ...
Oman has informed its crude oil customers that it will cut around 10% in allocations for September loading and delivery
The UAE, OPEC’s third largest producer, recorded a daily production of 4.2 million barrels of oil per day (bbl/d) in April before the record OPEC+ agreement.
Saudi Arabia's additional voluntary cuts of 1.18 million barrels of oil (mmbbl/d) carried out in June will not be continued into July as global oil demand begins to recover.
The Organization of the Petroleum Exporting Countries (OPEC) has agreed to extend record oil production cuts until the end of July.
Iraq’s total oil exports for April averaged 3.438 million barrels per day (mmbbl/d) and oil revenue more than halved to $1.42 billion.
Angola has released its preliminary export schedule for July, showing that Angola is set to reduce exports for July by nearly 9% in comparison to June.
The Kingdom of Saudi Arabia’s oil exports in March rose by 113,000 barrels per day (bbl/d) to 7.391 million barrels per day (mmbbl/d) from 7.278 mmbbl/d in February.
Nigeria, Africa’s top crude exporter, has curtailed oil production by 23% to bring the country in line with the Organization of the Petroleum Exporting Countries (OPEC) production cuts.
