Iran will officially notify producer group Opec in December of its plans to raise its crude oil output by 500,000 barrels per day (bpd), the Iranian oil minister said on Saturday.
"We...ask them to respect the 30-million-barr
Algeria plans to increase natural gas output by 13 percent by 2019, the energy ministry said, to reverse a decline in energy production in recent years that has hit its export earnings and spending policy.
Investment to increase i
Libya's oil production is between 350,000 and 380,000 barrels a day, the new chairman of a state oil firm based in eastern Libya said on Saturday.
That is in line with recent output figures provided by other Libyan officials.
Opec member Algeria has increased crude oil output by 32,000 barrels per day after starting production at two fields, an energy ministry official said on Sunday.
Production increased on Saturday when the Bir Sebaa field started pr
The National Iranian Oil Company (NIOC) is set to increase production from all oilfields this year and can reach its pre-sanctions output capacity of 4 million barrels per day if there is sufficient market demand, a top Iranian oil official told
Morgan Stanley said in a note on Monday there is a possibility that Organization of Petroleum Exporting Countries (Opec) may raise its oil output quota.
The cartel's present production rate is around 31 million barrels per day
Opec oil supply in April has jumped to its highest in more than two years, boosted by record or near-record supplies from Iraq and Saudi Arabia, a Reuters survey showed, as key members stand firm in their focus on market share.
Kuwait, which plans to boost oil output capacity by a third by 2020, has discovered four new oilfields in the north and west of the country, a top oil official was quoted as saying by state news agency KUNA on Sunday.
Libya, struggling with militant attacks and two governments vying for control of the country, has boosted oil production to around 622,000 barrels a day (bpd), a report from state firm NOC said, higher than previously expected.
Opec has no choice but to keep its market share and shun oil output cuts, Kuwait's oil minister said, reiterating the view from the emirate that the group will hold its course when it meets next in June.
"Of course we are