Browsing Tag

OPEC

Qatar to pull out of OPEC by next January

Qatar announced on Monday it would withdraw from OPEC, mixing its aspirations to increase production outside of the cartel’s constraints with the politics of slighting the Saudi-dominated group amid the kingdom’s boycott of Doha. The…

Libya limits oil production in line with OPEC deal

The Organization of Petroleum Exporting Countries (OPEC) has reached an agreement last week with Libya to set limits on its oil production . The surprising agreement reported by the American agency Bloomberg, which consists of a…

OPEC says Libya will be exempt from reducing production

The Organization of Petroleum Exporting Countries (OPEC), will not force limits on Libya's production of crude oil. According to the final report published by OPEC on its official website, Libya will be exempt from cutting production…

OPEC extends output cuts and Libya is included

After two dozen crude-producing nations agreed to limit their output through the end of 2018, oil prices rose high on Friday, heading toward 2½-year highs. International Brent crude scale surged 1.8%, to $63.74, not far off last…

Libya’s oil production ascending once again

Libya’s oil output is rising again after disruptions ended at its biggest field, with production reaching about 950,000 barrels a day even as OPEC and allied suppliers step up efforts to contain a global glut, Bloomberg reported.…

Libya’s biggest oilfield Sharara resumes production

Libya's biggest oil field started raising production as an export terminal re-opened for tanker loading. Crude oil output at Sharara--the biggest field in Libya, which is exempt from OPEC cuts--rose to 230,000 bpd on Tuesday—a 30,000…

Libya’s oil production jumps higher to flood market

Libya’s crude shipments jumped to a new three-year high last month, dealing a fresh blow to Opec and allied oil-producing nations as they battle to restrict a global supply surplus that’s depressing prices for the commodity, Gulf News…

OPEC output soars as Libya’s supply keeps increasing

OPEC oil output has risen this month by 90,000 barrels per day (bpd) to a 2017 high, a Reuters survey found, led by a further recovery in supply from Libya, one of the countries exempt from a production-cutting deal. A dip in supply…

Oil prices increase ahead of OPEC meeting today

Oil prices gained on Monday after a steep fall the session before, buoyed by expectations that a joint OPEC and non-OPEC meeting later in the day may address rising output in Nigeria and Libya, two OPEC members so far exempt from a push…

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