OPEC | Egypt Oil & Gas - Part 32
Kuwait Favors an OPEC Output Cut Extension
Kuwait wants the Organization of Petroleum Exporting Countries (OPEC) to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market.
OPEC Reaffirms Commitment to Production Cut
According to Saudi Energy Minister, Khalid al-Falih, oil market fundamentals were already improving after the agreement, and oil prices are up more than 10% since the output curb deal was struck in November 2016, sta ...
Iran’s Oil Exports Hike to 3mb/d
Iran's crude oil exports hit a record 3mb/d in the Iranian month of Esfand (late February to late March). The country was released in 2016 from trade restrictions.
IEA Predicts Slump on Oil Supply by 2020
According to the International Energy Agency (IEA) latest report, investment in new projects fell during the slump in oil prices that began in mid-2014, which may compromise production levels by 2020.
Iraq, Angola to Extend OPEC Production Cuts
Iraq and Angola are willing to extend OPEC's production cuts during the second half of 2017 as the global rally in prices shows signs of stalling. Nigerian Vitol Sells 4m Oil Barrel, Supply Glut Eases
Vitol Group BV is offering to sell Nigerian crude oil from a storage terminal in South Africa, in what may be a signal that the global supply glut is beginning to ease. OPEC Lost $1t to Slump in Prices
The Organization of Petroleum Exporting Countries’ (OPEC) Secretary-General, Mohammed Barkindo, explained the amount was lost in terms of deferred projects and outright cancellation of projects across its entire valu ...
Angola Reaches Highest Oil Revenue in 16 Months
Angola reported $950m in crude oil export revenues for January, the highest in 16 months.
