Production-Cut Agreement | Egypt Oil & Gas
Production-Cut Exemptions to be Discussed at OPEC Meeting
Libya and Nigeria’s exemptions from the production-cut agreements could be questioned at tomorrow’s meeting between OPEC and some non-OPEC oil producers, sources told Platts. The two OPEC members have been exempted fr...
Oil Producers Considering Modified 9-Month Extension of Cuts
OPEC and its oil-producing allies are considering a modification of the proposed nine-month extension of the production-cut agreement, Reuters reports. A committee preparing recommendations for the oil producers float...
Saudi Arabia, Russia Reach Framework for Extending Cuts
Russia and Saudi Arabia have agreed to a basic framework for extending the production-cut agreement, Bloomberg reports. Both countries now see the need to announce an extension of the agreement following the meeting o...
Saudi Arabia Pushes to Extend Cuts 9 Months but Doubts Linger
Saudi Arabia is pushing for an extension of the OPEC-led production-cut agreement by an additional nine months until the end of 2018, Reuters reports. “The Saudis are lobbying to have a decision in November for nine m...
Iranian Minister: OPEC Leaning toward Extension
Most OPEC members favor an extension of the production-cut agreement, the Iranian Minster of Petroleum, Bijan Zangeneh, stated, according to Shana. “The majority of members support the extension of the plan, but the f...
Bahrain Indicates Support of Production-Cut Extension
Joining a growing list of counties expressing support for an extension of production cuts, the Bahraini Oil Minister, Sheikh Mohammed bin Khalifa El Khalifa, indicated that Bahrain had no reason to oppose an extension...
UAE, Oman Indicate Decision on Production Cuts This Month
A decision on extending OPEC’s production-cut agreement with ten other oil producers could be made this month, energy ministers from the UAE and Oman indicated on the sidelines of the Abu Dhabi International Petroleum...
Saudi Energy Minister: “More Needs to be Done”
Oil producers must do more to reduce the global oversupply of crude oil, the Saudi Energy Minister, Khalid El Falih, said on Saturday, according to Reuters. While noting “general satisfaction” with the results of the ...
