OPEC | Egypt Oil & Gas - Part 43
Iran Calls For OPEC Quota System
Iranian Minister of Petroleum, Bijan Zangeneh, said that Iran wants a quota system of production to be reinstated in the Organization of Petroleum Exporting Countries (OPEC).
GCC Members Seek to Revive Oil Output Deal
Gulf OPEC members including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers on next meeting, a senior OPEC source said. Non-Opec Producers Cutting Back Oil Output
Oil output from producers outside the Organisation of Petroleum Exporting Countries (OPEC) is falling faster than expected, helping the market to rebalance.
Iran Rejects Again ‘Self-Sanctioning’ Oil Freeze Plan
Iran rejects again the call to freeze its oil output and emphasized that it will go ahead with its plans to increase its oil production to as high as 4m b/pd.
Nigeria Faces Problems over Oil Freeze Failure
The failure of the deal to freeze oil production, which could have hastened a recovery in oil prices, puts Nigeria and other cash-strapped oil producers in more trouble. Oil Output Freeze Deal Falls Apart
A deal to freeze oil output by OPEC and non-OPEC producers fell apart on April 17th after Saudi Arabia demanded that Iran join in despite calls on Riyadh to save the agreement and help prop up crude prices.
Kuwait Seeking Crude Output Boost at 3.165mb/d by 2017
Kuwait Oil Company will soon offer contracts for offshore rigs and support services to drill its first undersea wells as the Gulf nation tries to boost crude output to the highest level in more than four decades.
Russian Oil Output Hits Record, Oil Freeze in Doubt
Russia’s oil output set a post-Soviet high in March as the success of a proposed crude production freeze between OPEC members and other major producers appeared to be in doubt.
