Saudi Arabia has offered to reduce oil production if rival Iran agrees to cap its output at the current level 3.6mb/d, in a major compromise ahead of talks in Algeria by the end of September.
A pipeline linking Iraq’s Kirkuk field to Turkey’s Ceyhan port was repaired after it was halted. A flow test took place and operations are expected to return to normal exports levels of more than 90,000b/d.
Nigeria’s crude oil production declined by 130,000b/d in August to an average of 1.44mb/d, as oil companies struggle to repair pipelines damaged by severe militant attacks
Maintenance work at Qatar's al-Shaheen oil field, the country's largest offshore oilfield, located 80km off the country's coast, has pushed back the loading of crude cargoes.
Algeria and Iran discussed the possibility of developing mutual relations in various fields in the energy sectors and a possible oil production freeze agreement with OPEC countries.
Kuwait Petroleum Corporation (KPC) stated that the country increased oil prices increased by $0.13, late August, from $43.87 per barrel to reach $44 per barrel
Iraq's Prime Minister, Haider al-Abadi, said his country intends to boost crude oil production and will not restrain output as part of any possible agreement among member's of the Organization of the Petroleum Export ...