Markets
Kuwait Oil Company to cut production by 646 thousand barrels per day to implement its share of the (OPEC+)

Kuwait Oil Company is developing a plan to implement OPEC’s new decision by cutting Kuwait oil production by 646 thousand barrels per day in order to reduce the world oil glut in the market and to...

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Oman will cut oil production by 23% in May & June 2020

The Omani Ministry of Oil and Gas said on Tuesday, April 14, 2020 that it will cut oil production by 23% in May and June, to comply with the OPEC+ cutoff agreed on Sunday, April 12, 2020, and...

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Bahrain Energy Minister: OPEC+ alliance resumption would have made the oil market balanced

In an interview with the Bahraini Minister of Energy, Sheikh Mohammed bin Khalifa Al Khalifa, for the Oil and Gas Middle East Network, commenting on the current situation of the oil sector: “We...

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Oil prices to fall amid news of delaying the Saudi and Russian talks

Global oil prices fell after the meeting of Saudi Arabia and Russia on the trend to cut production was postponed as the spread of the Corona virus affected demand, BBC reported. Trump expected Saudi...

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Agreement on Oil Production Rates.. Saudi Arabia and Russia at Crossroads

Russia announced a few days ago that it will not support further cuts in oil production from OPEC+. This was followed by a notable decline in crude oil prices, to reach today at $37 a barrel (Brent...

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Oil prices jump to $70 a barrel due to tension in the Gulf region

As tensions between the United States and Iran escalated, oil prices jumped to more than $70 a barrel. The immediate rise in prices was among the biggest jumps since the attack on Aramco oil...

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Saudi Arabia and Kuwait agree to restore shared Oil Production in Neutral Zone

Kuwait and Saudi Arabia agree to stop the political dispute related to oil production from the fields of the Neutral Zone, which lasted for five years, and the agreements paved for the resumption of...

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UAE oil exports rebound to 3.01 million B/D

The UAE’s exports of crude oil and condensates increased in August 2019, with shipments reaching 3.01 million barrels per day compared with 2.71 million bpd in July, Bloomberg News...

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Oil prices are falling due to trade disputes between Washington and Beijing

According to Reuters, oil prices fell after the start of new tariffs imposed by the United States and China, raising fears that this will adversely affect the global growth and reduce the demand for...

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Iraqi crude oil exports 3.6 million barrels per day in August 2019

Iraqi crude oil exports raised to 3.6 million barrels per day in August 2019, from 3.56 million bpd the July, the oil ministry said in a statement. Exports from the southern Basra terminals reached...

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