Corporations
IEA experts discuss improving energy efficiency in response to the Covid-19 crisis

The International Energy Agency (IEA) on Tuesday, April 21, 2020 coordinated a meeting of the Global Committee for Urgent Action on Energy Efficiency to discuss the vital role which can play in...

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The Saudi Cabinet declares its solidarity with the OPEC+ allies and other oil producers to stabilize the oil markets

The Council of Ministers in the Kingdom of Saudi Arabia stated on Tuesday, April 21, 2020, that the Kingdom is monitoring oil markets and is ready to take additional measures to achieve stability in...

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Saudi Arabia cuts its production to 8.5 million barrels per day in May 2020

A few days ago, Saudi Aramco sources said that they would cut production to 8.5 million barrels per day during May 2020, as part of OPEC+ agreement with Russia and other major oil producers.  Under...

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After a historic decline .. US oil price is back to rise above the zero level ($ 0)

The price of US oil, WTI, rose again above zero on Tuesday, April 21, 2020, after falling to zero for the first time, due to lower demand on global energy markets, where demand fell by about a third,...

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Oil price crash is tempting the United States to increase the size of its Strategic Petroleum Reserve

Oil prices have tumbled in recent days and reached unprecedented levels. This encourages an increase in the volume of oil inventories by purchasing the cheap oil from the market so long as there are...

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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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Kuwait to export first oil shipment from Neutral Zone with Saudi ِArabia

The Kuwaiti Ministry of Oil announced on Sunday 5 April 2020 that it had exported the first shipment of oil from the Khafji field outside the country, through joint operations in the neutral zone...

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The United States may have to impose tariffs on oil imports if prices continue to decline

Oil prices in world markets have fallen to about $20 a barrel, the lowest level in the past two decades. The sharp decline in oil prices is attributed to the spread of Corona virus (Covid-19) and the...

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