Oil Producers Extend Output Cuts for 9 Months

• Monday, 29th May 2017
• by Editorial Team

Oil producers chose to extend supply cuts of 1.8mb/d for nine extra months, amidst a global glut of crude and rising US shale gas production.

Equatorial Guinea is the 14th OPEC Member

• Sunday, 28th May 2017
• by

The Organization of the Petroleum Exporting Countries (OPEC) has accepted Equatorial Guinea as a new member of the Organization.

Kuwait Urges Deepening OPEC Oil Cuts

• Thursday, 25th May 2017
• by Sarah Samir

OPEC and non-member oil producers could deepen output cuts or extend them for a year.

Qatar Announces Support to OPEC Deal Extension

• Monday, 22nd May 2017
• by Editorial Team

Qatar announced its support to extending the agreement to the end of March 2018.

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.