OPEC | Egypt Oil & Gas - Part 38
OPEC Produced 33.64mb/d of Crude in September
Crude oil output in OPEC reached a new record of 33.64mb/d during September, causing crude oil prices to drop back down after reaching above $53 per barrel as a result of reports that OPEC had agreed to curb production.
Iraq, Iran To Miss Istanbul OPEC Talks
The oil ministers of Iran and Iraq will not attend informal talks between member's of the Organization of the Petroleum Exporting Countries (OPEC) in Turkey during October. OPEC Agreed on a Production Freeze
OPEC agreed to reduce its oil output to 32.5mb/d from the current production levels of around 33.24mb/d, with global prices of oil jumping by more than 5% in response to the agreement.
Saudi Arabia to Consider Reducing Oil Output
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.
AGOCO Boosts Output as Libya’s Crude Production Recovers
Libya's Arabian Gulf Oil Company (AGOCO) has raised its output to 210,000b/d as Libya boosted crude production by more than 70%.
Iraq to Resume Oil Exports via Kirkuk Pipeline
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 Lost 130,000b/d of Crude Output in August
Nigeria suffered the biggest decline among members of the Organization of Petroleum Exporting Countries (OPEC) with 1.468mb/d of crude oil in August.
Nigeria’s Crude Output Declined by 130,000b/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
