Iraq to Raise Crude Oil Production to 6.5 mb/d
In accordance with the OPEC, non-OPEC agreement, spearheaded by Russia and agreed in early 2017 to cut supply and boost prices, Iraq is currently producing 4.4 million barrels per day (mb/d).
Russia | Egypt Oil & Gas - Part 23
Iraq May Have Double the Current Oil Reserve Estimates
Iraq may have double the current estimated amount of oil reserves, the country’s oil minister Jabar Al-Luaibi said.
OPEC Members Suggest Supply Cuts Extension
A number of oil exporting countries have suggested a six-month extension to the supply cut deal agreed by OPEC and non-OPEC nations.
OPEC, Russia Consider 10-20 Year Oil Alliance
Riyadh and Moscow are considering extending Russia’s current short-term alliance with OPEC to curb oil production that began in January 2017 after a crash in crude prices.
Saudi Arabia Offsets OPEC Cuts with Record Fuel Exports
Saudi Arabia exported a record amount of gasoline and diesel in January 2018, helping the kingdom to offset the crude production cuts mandated by OPEC.
Russia, Iran Sign $740 M Development Agreement
The NIOC signed a $740 million agreement with a Russian-Iranian consortium to develop two oil fields near the Iraqi border.
Russia to Work on Iranian Oil Fields
Russian oil firms may sign deals with Iran by March 21st which would enable them to work on Iranian oilfields.
Saudi Arabia, Russia Increase Energy Cooperation
Saudi Arabia and Russia are continuing to strengthen their relations in the energy sector.
OPEC, Russia Renegotiate Production Cut Agreement
Russia will withdraw from the production cut agreement with the Organization of the Petroleum Exporting Countries (OPEC) if oil prices remain at $70 per barrel for six months.
Russia, Saudi Arabia, Iraq Top Crude Suppliers to China in November
Russia, Saudi Arabia, and Iraq were the top crude suppliers for China’s domestic market in November.
