OPEC Fund allocates $10M to support commodities imports in Egypt

Wed, 20 Sep 2023 - 10:43 GMT

The loan is as part of a larger syndicated trade finance facility worth $200 million, in collaboration with the International Islamic Trade Finance Corporation (ITFC).

Egypt has leading role in energy markets, oil demand to reach 10M barrels/day: OPEC

Sun, 12 Feb 2023 - 01:55 GMT

Al-Ghais stated during EGYPS 2023 that the oil demand is projected to increase to reach 10 million barrels per day during the coming period.

Egypt backs Saudi stance on OPEC+ decision, Foreign Ministry

Mon, 17 Oct 2022 - 02:11 GMT

Egypt is closely following up on the repercussions of OPEC+ recent decision and the responses to it.

EGYPS 2022: OPEC secretary general praises Egypt’s achievements in energy field

Tue, 15 Feb 2022 - 11:31 GMT

The Secretary-General of OPEC Mohammad Barkindo praised Egypt’s achievements in energy field over the years.

Egyptian president endorses $95M fund by OFID to MSMEs

Thu, 29 Apr 2021 - 02:35 GMT

The agreement was signed on June 22, 2020 and mainly targets youth and women.

Global oil demand to increase by 5.8 mln barrels per day in 2021: OPEC

Fri, 12 Feb 2021 - 12:44 GMT

The Organization of the Petroleum Exporting Countries' (OPEC) latest monthly report showed that the 2021 global oil demand growth forecast got revised down to 5.79 million barrels per day (bpd) from 5.9 million bpd in the previous report.

Egypt participates in G-20 ministerial meeting

Fri, 10 Apr 2020 - 09:18 GMT

The participants discussed cutting down oil output at the world level to restore stability of the international oil market.

Brent crude could plunge to ‘single-digit lows’: Fitch warns

Mon, 06 Apr 2020 - 12:45 GMT

The Organization of the Petroleum Exporting Countries and its allies are expected to meet on Thursday — a delay from Monday — in an attempt to agree on production cuts.

Oil drops toward 17-year low as hopes for OPEC-Texas production truce fade

Mon, 23 Mar 2020 - 12:41 GMT

Futures in London fell around 4 percent to near $26 a barrel, while West Texas Intermediate rose after the April contract expired Friday.

7th meeting of ministers of OPEC, non-OPEC countries launches in Vienna

Sat, 07 Dec 2019 - 01:11 GMT

The 7th meeting of Ministers of OPEC and non-OPEC countries kicked off on Friday, under the co-chairmanship of Saudi Arabia and Russia.

Oil higher as Saudi pushes for further supply cuts

Tue, 03 Dec 2019 - 10:26 GMT

Oil prices edged higher on rising expectations of deeper output cuts when OPEC and its allies meet this week.

Crude oil prices fall 1% on fears for global economy

Fri, 05 Jul 2019 - 10:02 GMT

Crude oil prices fell on Friday as concerns over the outlook for global economic growth outweighed elevated tensions in the Middle East that could disrupt supply routes and send prices higher.

OPEC set to extend oil supply cut as Iran endorses pact

Mon, 01 Jul 2019 - 09:51 GMT

OPEC and its allies look set to extend oil supply cuts this week at least until the end of 2019 as Iran joined top producers Saudi Arabia.

Brent oil jumps over $2 as OPEC+ poised to extend supply cut

Mon, 01 Jul 2019 - 09:38 GMT

Oil prices rose over $2 a barrel on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week.

Ample non-OPEC supplies and weak demand a bane to oil prices: watchdog

Fri, 14 Jun 2019 - 09:17 GMT

Tepid growth in demand for oil along with ample supplies from non-OPEC countries will complicate efforts.

Oil up on escalating U.S.-Iran tensions, but trade war worries cap gains

Tue, 21 May 2019 - 10:31 GMT

But gains were checked by concerns that a prolonged trade war between Washington and Beijing could lead to a global economic slowdown.

Oil prices weighed down by record U.S. output, inventories

Thu, 02 May 2019 - 09:31 GMT

U.S. West Texas Intermediate crude futures were down 60 cents at $63.00 per barrel.

Saudi Arabia calls for pressure on Iran to cease terrorist activities

Thu, 25 Apr 2019 - 10:26 GMT

Speaking in Riyadh, al-Falih said he was guided by oil market fundamentals, not prices, and global oil inventories continued to rise.

Oil hits highest since November as U.S. to tighten Iran sanctions

Tue, 23 Apr 2019 - 10:06 GMT

Despite the move, spare capacity from other suppliers such as Saudi Arabia might be able to ensure oil markets cope with a cut in Iranian exports.

Oil slips to $71, hit by talk of higher OPEC+ production

Tue, 16 Apr 2019 - 09:42 GMT

Analysts on average expect U.S. crude stockpiles to have risen by 1.9 million barrels last week, the fourth straight increase. The first of this week’s stockpile reports is due at 2030 GMT from the American Petroleum Institute. [EIA/S]