Organization of the Petroleum Exporting Countries (OPEC) | Egypt Oil & Gas

OPEC Lowers 2020 Oil Demand Predictions

The Organization of the Petroleum Exporting Countries (OPEC) has further lowered its forecast on oil demand due to the coronavirus pandemic and there are also doubts about 2021's recovery.

OPEC Announces World Oil Production Declined 0.7% in 2019 

The Organization of the Petroleum Exporting Countries’ (OPEC) annual statistical report found that total world oil production declined in 2019 by 0.7%, or 0.56 million barrels per day (mmbbl/d), compared to 2018.

OPEC’s Oil Output Decreases in February

The OPEC members produced around 30.55 million barrels per day (b/d) in February, down by 221,000 b/d from a month earlier.

Nigeria’s Oil Output to Grow by 22%

Nigeria expects its oil production rate to grow by 22% by the end of 2016 to reach 2.2mb/d from current levels.

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