The energy ministers of Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman approved increasing crude oil production to 188,000 barrels per day starting in August.
This is the organization's fifth consecutive increase, amid the ongoing conflict in the Strait of Hormuz, and is a…
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OPEC+ to increase oil production in July
Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria, and Oman participated in a virtual meeting last Sunday, during which they agreed to increase oil production by 188,000 barrels per day next month.
This marks the fourth consecutive…
OPEC+ agreed to increase production to 137,000 barrels per day in October
Starting next October, the Organization of the Petroleum Exporting Countries (OPEC+) will increase production to 137,000 barrels per day, according to eight members at a virtual meeting last Sunday, September 7.
Thus, Saudi Arabia, Russia,…
OPEC+ members agreed to increase production
The recent decision by eight OPEC+ members to maintain the increase in crude oil production in May led prices to extend their previous losses.
On Thursday, April 3, Russia, Saudi Arabia, the United Arab Emirates, Kuwait, Iraq, Algeria,…
Kuwait bans virtually all cryptocurrency trading
Kuwait's Capital Markets Authority (CMA) has announced a drastic move by issuing a circular establishing an outright ban on almost all cryptocurrency-related operations, including the use of Bitcoin and other virtual currencies in payments,…
Arab countries from OPEC to cut voluntarily oil production
A voluntary cut in oil production was announced by Saudi Arabia, the United Arab Emirates (UAE), Kuwait, Iraq and Oman. The measure will be applied from next May and until the end of the year.
This reduction is in addition to the one…