Production-Cut Agreement | Egypt Oil & Gas - Part 3
OPEC Production Increases 50k b/d in September
OPEC crude production has risen in September, Reuters reports. Production has edged higher by 50,000 barrels a day (b/d), largely due to increases in Iraq and Libya, according to Reuters. Iraq has claimed to be fully ...
UAE Oil Minister: UAE 100% Compliant with Production Agreement
The UAE is fully compliant with its commitments under the production-cut agreement instituted by OPEC and other major, non-OPEC oil producers, according to the UAE Energy Minister, Suhail Mohamed El Mazroui, Reuters r...
Iran Calls for OPEC to Address Libyan, Nigerian Production
The Iranian Minister of Petroleum, Bigan Zangeneh, singled out Libya and Nigeria in comments to the press yesterday, calling for changes in OPEC policy towards the two countries, Bloomberg reports. While noting that O...
OPEC, Russia: Production-Cut Agreement Working
After meeting last Friday in Vienna, ministers from OPEC and major, non-OPEC oil-producing countries, said their production-cut agreement had drawn down global oil stocks, Bloomberg reports. “The process is working fi...
Iraq Indicates Willingness to Extend Cuts
Iraq favors an additional one-percent cut in oil production by OPEC and its fellow oil producers, according to the Iraqi Oil Minister, Jabar El Luaibi, Reuters reports. At present, OPEC and several other major, non-OP...
Saudi Arabia, UAE Signal Willingness to Extend Production Cuts
The oil ministers of Saudi Arabia and the UAE indicated that their countries were willing to consider an extension of the production-cut agreement between OPEC and major, non-OPEC oil producers, Reuters reports. The d...
Saudi Arabia, Russia Push Extension of Production Cuts
Saudi Arabia and Russia are advocating a three-month extension of January’s production-cut agreement, sources with knowledge of the proceedings told The Wall Street Journal. This extension would be the second extensio...
ADNOC to Cut October Crude Production by 10%
Abu Dhabi National Oil Company (ADNOC) will cut its crude oil output in October by 10%, Zawya reports. “In line with UAE’s OPEC commitments, ADNOC has informed customers of its crude oil nomination cut for October,” t...
