OPEC | Egypt Oil & Gas - Part 30
Adnoc to Decrease Oil Sales by 10% in June
In line with the UAE's plan to follow OPEC’s agreement to reduce production, the state-owned Abu Dhabi National Oil Co. (Adnoc) s is cutting back supplies to customers in June.
Saudi Arabia Loses Market Share to Iran, Iraq
Saudi Arabia, the world’s biggest crude exporter, is losing market share to Iraq and Iran as a result of OPEC’s agreement to curb supplies to bolster prices. OPEC Ministers to Meet Russia
The energy ministers of Saudi Arabia and Venezuela plan to meet their Russian counterpart to discuss extending oil-output cuts.
Kuwaiti Oil Price Decreases
The price of Kuwaiti oil went down by $0.42 to reach $48.75 per barrel.
Libya’s El Feel Oilfield to Resume Operations
Pumping is set to restart as soon as OPEC member fixes an electricity outage in Sharara field.
Iraq Mulls Exemption from OPEC Cut Deal
Iraq may seek exemption because it needs its oil income to fight the Islamic State.
Iran to Join Oil Production Cuts
Iran announced that it is ready to join the OPEC oil production cuts despite being exempted from the initial production cuts agreement, which allowed it to boost its crude output to about 4m barrels.
OPEC Cuts 153,000b/d in March
Supply targets from the members of the OPEC suggest a compliance of 104% with the cartel's deal to cut output.
