OPEC | Egypt Oil & Gas - Part 23
Iran Rules Out Agreement at OPEC Meeting
The Iranian oil minister has stated that a deal on oil output at the June 22 OPEC meeting in Vienna is unlikely, setting the stage for a clash with Russia and Saudi Arabia, who are pushing to curb the current producti...
Saudi Arabia, Russia Propose 1.5 M b/d Output Increase: Ecuador Oil Minister
Saudi Arabia and Russia are reportedly seeking a 1.5 million barrel per day (b/d) increase in production from signee countries to the OPEC and non-OPEC agreement, the Ecuadorian oil minister stated on June 18, Reuters...
Iraq Opposes Calls for OPEC Production Boost
Iraqi oil minister Jabar al-Luaibi released a statement on June 11 in which he warned producers against being pressured to boost output levels, adding that unilateral decisions could collapse the OPEC and non-OPEC sup... Saudi Oil Output Hits 10 Million b/d
Saudi Arabia has boosted oil output to over 10 million barrels per day (b/d), the highest level since October 2017, Bloomberg reported. The kingdom informed OPEC that its daily production rose by 162,000 b/d to 10.03 ...
Aramco Raises Price of Crude Exports to Asia
Saudi Aramco has increased the price of crude exports to Asian buyers to their highest levels since 2014 amid rising demand for Saudi oil, Bloomberg reported. Aramco raised its price for July shipments of Arab Light c...
UAE, Russia Sign Strategic Partnership Deal
The UAE and Russia have signed a declaration of strategic partnership during Crown Prince Sheikh Mohamed bin Zayed’s visit to Moscow, Reuters reported. The agreement covers various sectors including cooperation in the...
Saudi-Iranian Tension Expected in OPEC’s June Meeting
Iran has stated that it doesn’t support Saudi Arabia’s desire to increase global oil supplies, Reuters reported. Tehran’s statement is expected to cause tension between Organization of the Petroleum Export...
OPEC, Russia Consider Relaxing Production Cuts
Saudi Arabia and Russia will discuss allowing oil production to increase by around 1 million barrels per day (b/d) in an effort to ease concerns over a supply shortage and high oil prices, Reuters reported. The strict...
