OPEC | Egypt Oil & Gas - Part 27
Compliance with Production-Cut Agreement at 120%
Compliance with the production-cut agreement reached 120% in September, according to the Joint Ministerial Monitoring Committee (JMMC) for the agreement, Egypt Oil & Gas reports. “The market has improved a lot but...
OPEC Likely to Extend Production Cuts
OPEC’s agreement with Russia and other non-OPEC producers to cut oil production will probably be extended a further nine months to the end of 2018, OPEC sources told Reuters. The agreement is currently set to expire i...
Iran Wants to Extend Production-Cut Agreement
Iran favors an extension to the production-cut agreement between OPEC and some other, non-OPEC oil producers until the end of 2018, an Iranian official told Bloomberg. “We are pleased with the way OPEC has decided to ...
OPEC 86% Compliant with Production-Cut Obligations
OPEC compliance with the oil-production agreement implemented in January between OPEC and major, non-OPEC oil producers is at 86%, according to the Executive Director of the International Energy Agency (IEA), Fatih Bi...
OPEC Secretary General Hints at “Extraordinary Measures”
“Extraordinary measures” may be necessary to stabilize oil markets, the Secretary –General of OPEC, Mohammad Barkindo, told reporters, according to Reuters. “There is a growing consensus that … a rebalancing process i...
UAE Announces Further Production Cuts
The UAE will make further oil-production cuts in November to bring its output in line with its commitment under the production-cut agreement between OPEC and major, non-OPEC oil producers, Gulf News reports. “November...
OPEC Production Increases 50k b/d in September
OPEC crude production has risen in September, Reuters reports. Production has edged higher by 50,000 barrels a day (b/d), largely due to increases in Iraq and Libya, according to Reuters. Iraq has claimed to be fully ...
Iran Calls for OPEC to Address Libyan, Nigerian Production
The Iranian Minister of Petroleum, Bigan Zangeneh, singled out Libya and Nigeria in comments to the press yesterday, calling for changes in OPEC policy towards the two countries, Bloomberg reports. While noting that O...
