Middle East oil supply has reached “historically high levels”, according to the latest analysis from the IEA, as the current oil price environment has boosted the share of oil produced in the region
Rival leaders of Libya’s National Oil Corporation have reached an agreement to unify the state company under a single management, a move which could help to revive the country’s embattled oil sector as well as boosting the prospects of the UN-backed unity government and its Presidency Council
OPEC’s oil output has risen to 32.82mn bpd in June 2016, highest in recent history as Nigeria’s oil industry partially recovered from militant attacks and Iran and Gulf state members boosted supplies
Petroleum Development Oman (PDO), acting on behalf of the Government of the Sultanate of Oman, has successfully raised US$4bn from a group of international financial institutions, to support activities including the construction of major new oil and gas facilities
Oil exports from Iraq’s southern ports have averaged 3.162mn bpd in June 2016, down slightly from May due to maintenance work and rising demand for fuel oil used in power generation, according to state-owned South Oil Company (SOC) official
