OPEC | Egypt Oil & Gas - Part 39
Saudi Pumps Record Volume of Crude
Saudi Arabia boosted its output to a record high of 10.67mb/d in July, up from 10.55mb/d in June, according to figures Riyadh provided to the Organization of the Petroleum Exporting Countries (OPEC).
Algeria Expected to Push for Production Freeze
Algeria and other OPEC members are expected to push for a production freeze during an OPEC informal meeting scheduled for late September in Algiers.
Kuwait’s Oil Field, Leakage But No Fire
Kuwait Oil Company reported it contained an oil leak during drilling at Al-Ahmadi oil Field, located in the rich OPEC member state.
Russia Relunctant to Renew Output Freeze Talks
Russia sees no need for renewing discussion of an oil-output freeze at current crude prices, while leaving open the possibility for future talks with the Saudi counterparts.
Iraqi Oil Export Increased in July
Iraq's oil exports from its southern ports rose to 3.2mb/d on average in July, up from 3.175mb/d in June, as the Arabic nation increased crude production to bring in a $3.744b in oil export revenues.
Oil Prices Rose Nearly 3% over Freeze Buzz
Oil prices rose nearly 3% in first half of August over reports of renewed talks by some members of the Organization of Petroleum Exporting Countries (OPEC) to restrain crude output.
Venezuela Seeks to Revive OPEC Freeze Talks
Oil Minister for Venezuela, Eulogio del Pino, is once again hoping to persuade the Organization of the Petroleum Exporting Countries (OPEC) to reach a freeze deal that would help boost global oil prices.
Iran Approves IPC Terms
Iran's Council of Ministers has passed a regulation governing the general conditions, structure, and terms of upstream oil and gas contracts called Iran Petroleum Contract (IPC).
