OPEC | Egypt Oil & Gas - Part 32
Angola Takes 2 Cargoes Out of May Exports
Angola's state-run Sonangol has reduced its May exports by taking two cargoes out of circulation.
Algeria Supports Extension of OPEC Deal
Algeria’s Energy Minister, Noureddine Boutarfa, announced the country’s support in extending global oil production cuts beyond June. Other countries have also added their support for a possible extension, including V ...
Kuwait Increases Oil Exports to China
Kuwaiti governmental data indicated that the country's exports of crude oil to China in February 2017 increased by 16.5% from February 2016 on daily basis to 1.07m tons, equivalent to around 281,000b/d.
Saudi Arabia Cuts Oil Supplies to the US
Saudi Arabia's oil exports to the US will decrease by around 300,000b/d during March, and total shipments would remain around March levels in the coming months.
Saudi Arabia Remains as China’s Biggest Oil Supplier
Saudi Arabia maintained its spot as China's top oil supplier in February, two months into the first OPEC output cuts in almost a decade, despite a near 13% fall in shipments from 2016.
Libya’s Oil Production Reaches 700,000b/d
Libya’s National Oil Corporation (NOC) announced that oil production has reached 700,000b/d, recovering from a drop earlier in March caused by fighting at two key oil ports.
Iran to Keep Oil Production at 3.8mb/d
Iran will keep its oil production cap at 3.8mb/d in the second half of 2017 if OPEC members stay committed to the oil cut agreement signed in November 2016.
Oil Inventories Increase Despite OPEC Deal
Saudi Arabia, the biggest member of the cartel, showed a surprising output jump, increasing production in February by 263,000b/d to 10mb/d.
