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Kremlin considers OPEC+ agreement done deal

“Definitely. Last night 22 countries reached a compromise, and the question was only in Mexico’s position,” Kremlin spokesman Dmitry Peskov told reporters, answering the question whether the Kremlin believes the deal would come through. In the early hours on Friday, Russian President Vladimir Putin, U.S.


81.5% of world’s proven crude oil reserves located in OPEC member countries 

Middle Eastern countries contributed to the majority, 65.5%, of the Organisation of the Petroleum Exporting Countries (OPEC)’s total production in 2016, according to the OPEC Annual Statistical Bulletin 2017. OPEC’s proven oil reserves currently stand at about 1.216tn barrels, with Venzuela, Saudi Arabia, and Iran the top three countries in term of reserves with 302bn …

Daily News Egypt

How a fluctuating oil market is likely to impact Egypt

The oil market has been in decline for a considerable period of time, having experienced three consecutive years during which supply has outstripped demand. This has continued to drive prices down and created a depreciating marketplace, while forcing the intergovernmental Organisation of the Petroleum Exporting Countries (OPEC) to take decisive action.

Daily News Egypt