The Organization of the Petroleum Exporting Countries and its allies (OPEC+) announced yesterday to cut oil production by 10 million barrels per day (mmbbl/d) effectively from May 1 through June 30, curbing global ...
Crude oil prices plunged under $25 a barrel for the first time since 2003 in London and dropped 2 in New York after the announcement of Saudi Arabia to keep record high production over the coming months.
The Organization of the Petroleum Exporting Countries (OPEC) could extend its oil production cuts until the end of 2020.
Wafra field, located in the Neutral Zone, will restart its oil production by March, according to Khaled Al-Fadhel, Kuwaiti Oil Minister.
OPEC's Secretary-General, Mohammad Sanusi Barkindo, said that oil and gas will continue to play a central role in achieving sustainable economic development and reducing energy poverty.
The United Arab Emirates (UAE) is committed to the full implementation of the oil production cut agreement with the Organization of the Petroleum Exporting Countries (OPEC).
The International Monetary Fund (IMF) has declared Iraq's oil production and oil fields unaffected by the nationwide protests.
Saudi Aramco announced that it started reducing gasoline prices on October 20.
Kuwait and Saudi Arabia are negotiating to restart oil production from the jointly-operated fields in the Neutral Zone.
Saudi Arabia’s oil production dropped by 660,000 barrels per day (b/d) in September, compared to August, reaching around 9.13 million b/d after an attack on its energy installation.
