OPEC Supply Cuts: Oil Production 9% Lower than Agreed
Signatories to the OPEC non-OPEC supply cut agreement reduced production in July by 9% more than agreed, according to an official committee.
OPEC | Egypt Oil & Gas - Part 19
OPEC to Agree Oil Supply Monitoring Mechanism: Kuwait Minister
OPEC and non-OPEC petroleum producing countries will agree to introduce a mechanism for monitoring crude oil production before the end of 2018, Kuwaiti Oil Minister Bakheet Al-Rashidi stated.
Saudi Arabia Cuts Oil Output after OPEC Low Demand Forecast
Saudi Arabia was forced to cut oil production by more than 200,000 barrels per day (b/d) last month after OPEC’s forecasted demand figures were lower than expected, raising concerns about oversupply.
Saudi Crude Exports to Drop by 100,000 b/d in August
Saudi Arabian crude exports are expected to drop by roughly 100,000 barrels per day (b/d) in August as the country refrains from oversuppling the market, the kingdom's OPEC governor stated on July 19.
Saudi Arabia Looks to Increase Asian Crude Exports
Saudi Arabia is looking to increase its oil exports to Asia, according to anonymous sources.
ADNOC: We Have Several Hundred Thousand b/d in Spare Capacity
Abu Dhabi National Oil Company (ADNOC) revealed on July 3 that it has the ability to increase oil production by several hundred thousand barrels per day (b/d).
Libya Declares Force Majeure on Supplies, Oil Rises
Libya has declared a force majeure on significant ammounts of its supply, pushing oil prices to highs not seen since 2014.
Kuwait Raises Output by 85,000 bpd
Kuwait started raising its oil output by 85,000 barrels per day (b/d) from July 1, in accordance with the recent agreement between OPEC and non-OPEC producers to increase production by 1 million b/d.
Saudi Arabia Plans to Pump 11 mb/d in July
Saudi Arabia plans to pump 11 million barrels per day (mb/d) in July, a record high for the country, up from 10.8 million b/d in June.
Oil Rises on Iran Supply Concerns
Oil prices rose on June 27 after US officials ramped up pressure on its allies to end imports of Iranian crude by November.
