Production Cuts | Egypt Oil & Gas - Part 2
EOG Hosts its First Webinar on June 24
Egypt Oil & Gas (EOG) will host its first webinar under the title “Egypt’s Oil and Gas Sector Pandemic and Commodity Price Crash” on June 24 at 12 PM. The webinar will be moderated by the President and...
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, according to Reuters. At present, Norway is complying with the OPEC+ deal by cutting output by 25...
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 9% in comparison to June, according to Reuters. Angola is set to export 37 crude oil cargoes in ...
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, according to Reuters. “The cut...
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, anticipating global demand to contract by 9.07 million barrels per day (mmbbl/d)...
Saudi Arabia, Russia Cooperate Over Oil Market
Prince Abdulaziz bin Salman bin Abdulaziz, the Minister of Energy, and Alexander Novak, the Minister of Energy for the Russian Federation, discussed in a phone call the new developments of the oil market situation, ac...
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, according to Reuters. Sergei Filatov, head of the regional government’s natural resources departm...
UAE to Voluntary Cut Production by 2.5% in June
The United Arab Emirates (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 (bbl/d)) in June to rebalan...
