Production Cuts | Egypt Oil & Gas - Part 3
Kurdistan to be Included in Iraq’s Oil Production Cuts
Iraq’s oil minister, Thamer al-Ghadhban, announced that the Kurdistan region is included in the cut of oil production, according to Reuters. The minister added that a delegation from the Kurdistan region will arrive ...
Oman’s Oil Production to be Cut by 200,000 bbl/d
Oman has announced that it will cut oil production by 200,000 barrels per day (bbl/d) following the record OPEC cuts, according to Oman Observer. Fuel demand in the Omani market has fallen by 50%, prompting the Sultan...
Egypt Participates in OPEC+ Meeting
The Minister of Petroleum and Mineral Resources, Tarek El Molla, participated in the Organization of the Petroleum Exporting Countries and its allies (OPEC+) meeting on reducing oil supplies in the global oil market t...
IMF Retracts Saudi Arabia’s Economic Growth Forecast
The international Monetary Fund (IMF) has lowered its forecast for Saudi Arabia’s economic growth to 1.9%, retracting its initial anticipation on the kingdom’s economic growth to increase by 2.2% in 2020, accord...
OPEC Extends Production Cuts to March 2020
The Organization of the Petroleum Exporting Countries (OPEC) has agreed to extend oil production cuts until March 2020, during their meeting in Vienna on July 1. Meanwhile, forecasted oil demand growth for 2019 has be...
Saudi Arabia Voices Support for Extending OPEC Cuts
Saudi Arabia believes that the Organization of the Petroleum Exporting Countries (OPEC) should decide to extend the production cut agreement during the Vienna summit in July, according to Saudi Energy Minister Khalid ...
OPEC, Russia Agree 1.2 Million b/d Production Cut
The Organization of the Petroleum Exporting Countries (OPEC) and its Russia-led allies (OPEC+) agreed to reduce oil production by around 1.2 million barrels per day (b/d) during a meeting in Vienna on December 6, Reut...
OPEC Supply Cuts: Oil Production 9% Lower than Agreed
Signatories to the OPEC non-OPEC supply cut agreement reduced production in July by 9% more than agreed, according to an official committee, Reuters reported. The output figures for July show steadily increasing produ...
