Saudi Heavy Crude Price to Asia to Increase by August

• Tuesday, 4th July 2017
• by Dr. Mahinaz El-Baz

Saudi Arabia is aiming to raise prices for its exported heavy crude to Asia by August to the highest level in more than three years, according to Reuters. The country’s decision comes as refiner profits on churn...

Kuwait Oil Exports to Japan Increase 10.2% in May

• Monday, 3rd July 2017
• by Dr. Mahinaz El-Baz

Kuwait boosted crude oil exports to Japan by 10.2% in May, which is the first growth in four months, according to Mubasher. The Gulf country is the third crude oil source for Japan behind Saudi Arabia and the UAE with...

OPEC Oil Output Boosts in June by 280,000b/d

• Monday, 3rd July 2017
• by Dr. Mahinaz El-Baz

The Organization of Petroleum Exporting Countries (OPEC)’s oil output has increased in June by 280,000b/d to reach a 2017 high as Libya and Nigeria continue to recover production levels. Both countries were exem...

Libya’s Oil Production Exceeds 1mb/d

• Sunday, 2nd July 2017
• by Sarah Samir

Libya’s oil production increased exceeding 1mb/d for the first time in 4 years as the National Oil Corporation (NOC) met its goal a whole month earlier than planned, reported Libyan Express. Accordingly, the Org...

OPEC will not Rush into Further Output Cuts

• Thursday, 29th June 2017
• by Dr. Mahinaz El-Baz

OPEC delegates said that OPEC will not rush into making a further cut in oil output or end some countries’ exemptions to output limits, although a meeting in Russia in July is likely to consider further steps to...

Zanganeh: OPEC Aims for Deeper Output Cuts

• Thursday, 22nd June 2017
• by Dr. Mahinaz El-Baz

Iranian Oil Minister, Bijan Zanganeh, said that OPEC members are considering further oil output cuts but should wait until the effect of the current reduced level of production is made clear. Zanganeh said “We a...

Al-Mazrouei: No Need for Extraordinary OPEC Talks

• Sunday, 18th June 2017
• by Dr. Mahinaz El-Baz

The United Arab Emirates Energy Minister, Suhail bin Mohammed al-Mazrouei, said that he saw no need for an extraordinary meeting of the Organization of the Petroleum Exporting Countries (OPEC) ahead of regular talks i...

Saudi Arabia to Reduce Oil Volumes to Asia in July

• Tuesday, 13th June 2017
• by Dr. Mahinaz El-Baz

Saudi Arabia, the world’s top oil exporter, will limit volumes of crude oil to some Asian buyers in July and deepen cuts in allocations to the US, industry. Cuts in crude oil allocations to Asia in July would to...

Al-Falih: No Prompt Need to Adjust Oil Agreement

• Monday, 12th June 2017
• by Dr. Mahinaz El-Baz

Saudi Arabia’s Energy Minister, Khalid Al-Falih,  stated that there is no evidence a pact by global oil producers to curb output needs to be adjusted.  Al-Falih described the recent weakness in crude prices as a...

Iran Increases Oil Exports to the West

• Monday, 12th June 2017
• by Dr. Mahinaz El-Baz

Iran’s oil exports to the West surged in May to their highest level since the lifting of sanctions in early 2016 and almost caught up with volumes exported to Asia, according to Reuters. Iran, which used to be O...