Saudi Arabia, Russia to Extend Oil Cut until March 2018

• Wednesday, 17th May 2017
• by Dr. Mahinaz El-Baz

Saudi Arabia and Russia, agreed on the need to extend output cut to rein in a global crude glut.

OPEC Loses $76b for US Shale

• Tuesday, 16th May 2017
• by Editorial Team

OPEC lost $76b in 2016 due to low oil prices caused by rising US oil production.

Nigeria’s Oil Production Increased by 274,000b/d

• Monday, 15th May 2017
• by

OPEC announced last week that Nigeria’s crude oil production increased by 274,000b/d in April.

Iraq, Algeria Signal Consensus on OPEC Cuts

• Sunday, 14th May 2017
• by Editorial Team

OPEC and major oil exporters reached consensus to extend the limits of cuts until the end of 2017.

Libya’s Oil Production Reaches 796,000b/d

• Wednesday, 10th May 2017
• by Editorial Team

The increase adds pressure on the world’s biggest producers who just signaled they may extend production cuts amid a slump in oil.

OPEC Signals Oil Output Cut Extension

• Tuesday, 9th May 2017
• by Editorial Team

The Saudi Oil Minister stated that oil producers would "do whatever it takes" to rebalance the market.

Oil Drops to $45 Despite OPEC Deal

• Monday, 8th May 2017
• by Editorial Team

Oil hovered around $46 per barrel in New York, back to levels last seen before the OPEC deal to cut production.

Nigeria Mulls Extending Exemption from OPEC Deal

• Sunday, 7th May 2017
• by

Nigeria’s exclusion was due to the production challenges that the country was facing after the militant attacks on the country's oil facilities.

Iran to Stick to OPEC Decision on Oil Cut Deal

• Sunday, 7th May 2017
• by Editorial Team

Iran announced it will go along with whatever decision OPEC makes on whether to extend oil production cuts beyond June.

Iraqi Fuel Oil Exports Rise Despite OPEC Cuts

• Thursday, 4th May 2017
• by

Iraqi fuel oil exports have risen since the beginning of 2017 despite the country’s commitment to curb production in line with OPEC supply cuts.