Production Cuts | Egypt Oil & Gas - Part 2

EOG Hosts its First Webinar on June 24

Egypt Oil & Gas (EOG) will host its first webinar entitled Egypt’s Oil and Gas Sector Pandemic and Commodity Price Crash on June 24, 2020 at 12 PM.

Norway Not to Extend Oil Output Cut in July

Europe’s largest oil producing nation, Norway, has no plans to further extend the record OPEC+ production cuts in July due to economic reasons.

Angola to Reduce July Crude Exports by Nearly 9%

Angola has released its preliminary export schedule for July, showing that Angola is set to reduce exports for July by nearly 9% in comparison to June.

Nigeria Reduces Oil Production by 23% 

Nigeria, Africa’s top crude exporter, has curtailed oil production by 23% to bring the country in line with the Organization of the Petroleum Exporting Countries (OPEC) production cuts.

OPEC Slashes Oil Demand Forecast by 9.1%

The Organization of the Petroleum Exporting Countries (OPEC) has dramatically cut its expected forecast for global oil demand this year, citing that this upcoming quarter will see the steepest decline.

Saudi Arabia, Russia Cooperate Over Oil Market

Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy, and the Minister of Energy for the Russian Federation Alexander Novak are in constant contact on the developing oil market situation.

Russia to Curb Oil Production in Siberia by 15%

Russia’s top producing oil region in Western Siberia is expected to cut production by 15% in line with the OPEC+ cuts.

UAE to Voluntary Cut Production by 2.5% in June

UAE’s Minister of Energy,  Suhail bin Mohammed Faraj Faris Al-Mazrouei, announced that the UAE will voluntarily cut its oil output by 2.5% (100,000 barrels per day (bpd)) in June to rebalance the global oil market ...

Oil Producers to Cut Oman’s Production by 200,000 bbl/d

Oman is preparing to slash oil output during May and June which will see the Sultanate reduce its production by 201,000 barrels per day (bbl/d).

WTI Crude Prices Fall by 300%, Plunges Below $0 

US oil trading collapsed on April 20 as the price on the May future contract for West Texas Intermediate (WTI) - that is due to expire on April 21 - fell by over 300%, recording an unprecedented $-37.63 per barrel ...

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