production cut

  • OPEC+ Alleviates Oil Production Cuts to 7.2 mmbbl/d

    OPEC+ Alleviates Oil Production Cuts to 7.2 mmbbl/d

    Thursday, 3rd December 2020

    The OPEC and non-OPEC countries agreed to adjust oil production by 0.5 mb/d from 7.7 mb/d to7.mb/d, during its meeting held on Thursday.

  • OPEC’s Meeting: Libya’s Production Cuts Ruled Out for Now

    OPEC’s Meeting: Libya’s Production Cuts Ruled Out for Now

    Tuesday, 25th July 2017
    Libya will not join any agreement limiting its output until it achieves a production target of 1.25 million b/d by December.
  • Libya, Nigeria May Adjust Oil Output

    Libya, Nigeria May Adjust Oil Output

    Tuesday, 11th July 2017
    Libya and Nigeria, exempt from global oil cuts, may attend a joint meeting between members of the Organization of the Petroleum Exporting Countrys (OPEC) and non-OPEC nations late July as oil producers look for ways to cap rising production.
  • Zanganeh: OPEC Aims for Deeper Output Cuts

    Zanganeh: OPEC Aims for Deeper Output Cuts

    Thursday, 22nd June 2017
    OPEC members are considering further oil output cuts but should wait until the effect of the current reduced level of production is made clear
  • Saudi Aramco Raises Crude Prices to Asia, USA and Northwest Europe

    Saudi Aramco Raises Crude Prices to Asia, USA and Northwest Europe

    Tuesday, 6th June 2017
    Saudi Arabia, the world’s largest oil exporter, raised pricing for July sales of all crude grades to Asia, the USA and Northwest Europe.
  • Kuwait Favors an OPEC Output Cut Extension

    Kuwait Favors an OPEC Output Cut Extension

    Wednesday, 15th March 2017
    Kuwait wants the Organization of Petroleum Exporting Countries (OPEC) to extend output cuts beyond June, becoming the producer group’s first member to call for more time to balance the global oil market.
  • OPEC Committee to Meet in January

    OPEC Committee to Meet in January

    Tuesday, 27th December 2016
    an OPEC committee responsible for monitoring compliance with a global agreement to reduce oil output will meet in the first half of January.
  • Libya’s NOC Confirmed Oil Pipeline Reopened

    Libya’s NOC Confirmed Oil Pipeline Reopened

    Thursday, 22nd December 2016
    Libya's National Oil Corporation (NOC) said that pipelines leading from the western fields of Sharara and El Feel had been reopened after a two-year blockade, paving the way for a major boost to production.
  • OPEC’s Oil Output Hit Record High Amid Freeze Talks

    OPEC’s Oil Output Hit Record High Amid Freeze Talks

    Tuesday, 6th December 2016
    OPEC will be meeting non-OPEC countries in Vienna to finalize a global oil production cut agreement early December, while the group's oil output set another record high in November.
  • Nigeria Exempted from OPEC Output Cuts

    Nigeria Exempted from OPEC Output Cuts

    Thursday, 1st December 2016
    Nigeria got special concessions as the Organization of Petroleum Exporting Countries (OPEC) reached the much sought consensus to cut oil production by 1.2m b/d, effective January 2017.