OPEC | Egypt Oil & Gas - Part 13
Saudi Arabia’s Oil Exports Increase by 1.5% in March
Saudi Arabia’s oil exports increased by 113,000 barrels per day (bbl/d), reaching 7.391 million barrels per day (mmbbl/d) in March, up from 7.278 mmbbl/d in February, according to Reuters. Despite this, the world’s t...
Nigeria Reduces Oil Production by 23%
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, according to Reuters. “The cut...
OPEC Slashes Oil Demand Forecast by 9.1%
The Organization of the Petroleum Exporting Countries (OPEC) has dramatically cut its expected forecast for global oil demand this year, anticipating global demand to contract by 9.07 million barrels per day (mmbbl/d)...
Iraq’s Production Cuts Below Third of OPEC’s Required Rate
Iraq has announced that it will only cut production by 700,000 barrels per day (bbl/d), a third less than the required rate from the Organization of the Petroleum Exporting Countries and its allies’ (OPEC+) supp...
Russia to Curb Oil Production in Siberia by 15%
Russia’s top producing oil region in Western Siberia is expected to cut production by 15% in line with the OPEC+ cuts, according to Reuters. Sergei Filatov, head of the regional government’s natural resources departm...
Kuwait to Voluntarily Further Reduce Production by 80,000 bbl/d
Kuwait’s oil minister, Khaled Al-Fadhel, announced that Kuwait will support the Kingdom of Saudi Arabia’s efforts to restore stability to oil markets by cutting production by a further 80,000 barrels per day (bbl/d), ...
UAE to Voluntary Cut Production by 2.5% in June
The United Arab Emirates (UAE)’s Minister of Energy, Suhail bin Mohammed Faraj Faris Al-Mazrouei, announced that the UAE will voluntarily cut its oil output by 2.5% (100,000 barrels per day (bbl/d)) in June to rebalan...
Saudi Arabia to Reduce Oil Production Worth 1% of Daily Global Supply
A Saudi Ministry of Energy official stated that Saudi Aramco will reduce its crude oil production in June by a voluntary amount of 1 million barrels of oil per day (mmbbl/d) or 1% of daily global oil supply, according...
