OPEC | Egypt Oil & Gas - Part 34
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, Times of Oman reported. According to the minister, the strategy is succeeding in red...
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, KUNA re...
Saudi Arabia Cuts Oil Supplies to the US
Oil prices moved higher late March after Saudi Arabia announced the reduction in its exports to the United States (US), Reuters reported. According to the kingdom, Saudi Arabia’s oil exports to the US will decre...
Saudi Arabia Remains as China’s Biggest Oil Supplier
Saudi Arabia maintained its spot as China’s top oil supplier in February 2017, two months into the first OPEC output cuts in almost a decade, despite a near 13% fall in shipments from 2016, Reuters reported. Chi...
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, Arabian Industry reported. NOC’s Chairman, ...
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 the members of the Organization of Petroleum Exporting Countries (OPEC) stay committed to the oil cut agreement signed in November 2016, R...
Oil Inventories Increase Despite OPEC Deal
The Organization of Petroleum Exporting Countries (OPEC) announced oil inventories have risen and prices continued to fall despite the global deal to cut supply, Reuters reported. According to BBC, the OPEC member Sau...
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, Bloomberg rep...
