OPEC | Egypt Oil & Gas - Part 6
OPEC’s JMMC Reaffirms Commitment to DoC
The Joint Ministerial Monitoring Committee (JMMC) of the Petroleum Exporting Countries Organization (OPEC) reviewed the crude oil production data for the months of May and June 2023, affirming their commitment to the ...
Iran’s Oil Production Reached 2.87 mmbbl/d in May 2023
The International Energy Agency (IEA) announced that Iran has recorded oil production 2.87 million barrels per day (mmbl/d) in May 2023, IRNA reported. According to IEA’s report, Iran’s crude oil production inc... OPEC Secretary General: Global Energy Demand to Rise 23% by 2045
OPEC, Organization of the Petroleum Exporting Countries, anticipates that global energy will increase by 23% by 2045 and overall demand will surge to 110 million barrels per day, according to Haitham Al Ghais, OPEC... Japan, OPEC to Organize High-Level Dialogue
Japan and the Organization of the Petroleum Exporting Countries (OPEC) have decided to organize a dialogue between senior officials, Nikkei reported. OPEC Secretary-General Haitham al-Ghais and Japan’s parliamen...
KSA Energy Minister: OPEC+ Working Against ‘Uncertainities and Sentiment’
Saudi Arabia’s energy minister Prince Abdulaziz bin Salman that the most recent OPEC+ deal included fundamental reforms but also aimed to combat “uncertainties and sentiment” in the market, Reuters r... OPEC Secretary General: Underinvestment Could Cause Market Volatility
Underinvestment in the oil and gas sector could cause long-term market volatility, stated OPEC Secretary General Haitham Al Ghais in a report from Reuters. He also said that the truth that needs to be told is that all... OPEC+ Sees No Need for Further Oil Output Cuts: Russian Deputy PM
OPEC+, the Group of leading oil producers, saw no need for further oil reductions despite lower-than-expected Chinese demand, but that the organization can always adjust its policy if necessary, according to Russian D...
IEA’s Birol Warns of Tight Global Oil Market in H2 2023
The surprising announcement of OPEC+ to implement voluntary production cuts of 1.66 million barrels per day from May until the end of the year could cause tightness in the second half of this year, according to Fatih ...
