Saudi Arabia cut July production

Saudi OPEC julySaudi Arabia’s oil production amounted to 10.290 mmbbl per day in July 2018, down about 200,000 bpd from June 2018, despite the pledge of the top OPEC producer to ramp up output during the 174th meeting of the OPEC Conference in Vienna on 23 June

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‘OPEC responds to losses amidst political disruption’

opec 6OPEC oil production fell by 420,000 bpd from January to May 2018 as the continued political disruption in Venezuela and decline in Angolan oilfields resulted in significant output losses

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DME sets new open interest record of 71.5 mmbbl of crude oil

DME 2Dubai Mercantile Exchange (DME), the premier international energy futures and commodities exchange in the Middle East, has reported a new exchange-wide open interest record of 71,586 lots on 31 July 2018, which is equivalent to almost 71.5 mmbbl of crude oil

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Oil reserves decreased 0.2 per cent in 2017: Eni

oil rig eni 30In 2017, oil reserves decreased slightly (-0.2 per cent) mainly due to reduction in some OPEC countries, according to Eni’s 17th edition of the ‘World Oil, Gas and Renewables Review,’ the annual statistics report on oil, natural gas and renewables sources

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DEEPS to explore Lebanon’s oil and gas potential

DEEPSA new specialised oil and gas services company, DEEPS, has opened an office in Lebanon, aiming to explore oil and gas potential in the region

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