OPEC | Egypt Oil & Gas - Part 50
Saudi Arabia Contemplating Wide-Ranging Cuts Under Price Pressure
Bloomberg has cited anonymous but well placed sources that Saudi Arabia is working with advisers on a review of the country’s capital spending plans to save money. They also said the Saudi regime may even delay or shr...
Oil Prices Drop Amid Global Downturn
Oil prices for benchmark WTI and Brent crude fell on Monday as stock markets suffer heavy losses and global markets slow down, reported Reuters. WTI Crude—the US measure for light, sweet crude oil—was under $40 on mar...
Algeria Trying to Move OPEC and Other Oil Producers to Control Prices
Informed sources told the Wall Street Journal that Algerian Oil Minister Salah Khebri had written to OPEC warning that a new drop in oil prices may warrant fresh discussions over the organization’s strategy. “Th...
Algeria Calls for Non-OPEC Members to Cut Production Rates
The Algerian energy minister stated that non-OPEC nations need to help to stabilize international oil prices, reported Bloomberg. Algeria is the largest member of OPEC by territory, and its government has faced signif...
Venezuela Lays Claim to Guyana Oil Field
Venezuela is laying claim to massive oil and gas reserves recently discovered by Exxon Mobil off the coast of Guyana, reported the Chicago Tribune. The two South American countries have long been tied together as part...
Oil Prices Rally on News of Declining US Shale Production, OPEC Meeting
Global oil prices rose in mid August amid news of declining US shale oil production, and rumors of an emergency OPEC meeting, The Wall Street Journal reported. Prices for benchmark Brent crude rose nearly 4% on the IC...
Indonesia Seeking to Rejoin OPEC
Indonesia is seeking to rejoin OPEC to get access to cheaper oil supplies as demand soars and domestic production falls, but critics say the move is an unwelcome distraction from efforts to overhaul the country’...
Uruguay Settles Oil Debt with Venezuela at a Discount
South American OPEC nation Venezuela will allow Uruguay to pay off a $400 million energy debt at a 35 percent discount, Uruguay said on Monday. Uruguay will pay Venezuela $262 million to settle the debt, President Tab...
