Kuwait Affirms Continued Support for OPEC Production Cuts
Kuwait affirms the country’s commitment to the OPEC-led oil production cuts put in place to increase prices.
OPEC | Egypt Oil & Gas - Part 22
Most Countries Back OPEC, non-OPEC Agreement Extension: Al-Mazrouei
The majority of OPEC and independent oil producing countries support turning the OPEC non-OPEC agreement into a long-term producers’ alliance.
OPEC Cuts Necessary for High Oil Prices: Qatar
Qater has affirmed the need to maintain current oil supply curbs over the long-term to ensure the market continues to stabilise and guarantee that prices fully recover from the 2014 crash.
Iraq May Have Double the Current Oil Reserve Estimates
Iraq may have double the current estimated amount of oil reserves, the country’s oil minister Jabar Al-Luaibi said.
OPEC Members Suggest Supply Cuts Extension
A number of oil exporting countries have suggested a six-month extension to the supply cut deal agreed by OPEC and non-OPEC nations.
OPEC, Russia Consider 10-20 Year Oil Alliance
Riyadh and Moscow are considering extending Russia’s current short-term alliance with OPEC to curb oil production that began in January 2017 after a crash in crude prices.
Iraq Agrees with OPEC Output Cuts
Iraqi President Fuad Masum stated on March 26 that Iraq supports OPEC’s agreement to cut oil output.
Saudi Oil Shipments to US Down 14% in 2017
American imports of Saudi crude oil dropped to 943 b/d in 2017, a 14% decrease from 2016, according to US government statistics.
Saudi Arabia Offsets OPEC Cuts with Record Fuel Exports
Saudi Arabia exported a record amount of gasoline and diesel in January 2018, helping the kingdom to offset the crude production cuts mandated by OPEC.
UAE Committed to Oil OPEC Cut Deal
UAE intends to continue following the efforts of Saudi Arabia, which are aimed to stabilize the oil markets, said Suhail Al Mazrouei, UAE's Minister of Energy and Industry.
