OPEC | Egypt Oil & Gas - Part 20
OPEC, Russia Agree 1.2 Million b/d Production Cut
The Organization of the Petroleum Exporting Countries (OPEC) and its Russia-led allies (OPEC+) agreed to reduce oil production by around 1.2 million barrels per day (b/d) during a meeting in Vienna on December 6, Reut...
Saudi Crude Production Hits Record Highs in Early November
Saudi Arabia’s crude production hit record highs in early November following large orders made in early October in preparation for the loss of Iranian crude from the market, Bloomberg reported. Industry sources ...
OPEC Expected to Agree Production Cuts
The Organization of the Petroleum Exporting Countries (OPEC) are expected to agree oil production cuts starting from December, sources told Reuters. OPEC members are apparently keen on cutting oil production by around...
Oil Prices Plunge $20 since October
Oil prices have dropped by more than $20 since October, falling to $65.37 per barrel on November 13 from a peak of $86.29 on October 3, Al Mal reported. Oil prices have lost a quarter of their value since early Octobe... Qatar names Kaabi as new head of OPEC delegation
Qatar has named Saad al-Kaabi as the head of its OPEC delegation, replacing Mohammed al-Sada, OPEC announced on its website on November 14, according to Reuters. Earlier this month, Kaabi became Qatar’s minister of st... OPEC Mulling 1M b/d Oil Output Cut
Saudi Arabia, the biggest OPEC producer, is discussing a proposal to cut oil output by up to 1 million barrels per day (b/d) between OPEC and allies, two sources close to the discussion told Reuters on November 11. Th...
Minister: Iraq to Increase Oil Output and Exports
Iraq is planning to increase its output and exports of crude in 2019, Oil Minister Thamer Ghadhban told Reuters. The shortfalls caused by US sanctions against Iran are not gauged yet by Iraq and other OPEC members to ...
Zhenhua Oil to Sign JV Agreement with Iraq’s SOMO
China’s Zhenhua Oil is expected to sign an agreement with Iraq’s State Oil Marketing Organization (SOMO) to establish a joint venture (JV) company, two industry officials with direct knowledge of the matter told...
