OPEC’s ‘Problem Children’ Are Holding Down Oil Prices - THE WALL STREET JOURNAL

Monthly crude-oil production, percentage above or below October 2016 levels

Sept. 22, 2017 12:33 p.m. ET

Benoit Faucon and Summer Said

Rising output in strife-torn Libya and Nigeria is threatening the cartel’s bid to cut off oil supplies and balance the market
VIENNA—The Organization of the Petroleum Exporting Countries is scrambling to contain output from its strife-torn members Libya and Nigeria, where surging production could threaten to derail the oil cartel’s efforts to withhold crude supply and raise its price.

Libya and Nigeria were exempt from OPEC’s agreement last year to join with Russia and other producers to cut about 2% of the world’s oil production. The countries’ oil industries at the time were crippled by civil unrest and weren’t expected to recover soon.

Both have since struck deals with militants, allowing the spigots to be turned on again.

Egyptian Gas Production Records 3,160 tons in April - EGYPT OIL & GAS / AMWAL AL GHAD

Monday, 24th July 2017

Egypt’s gas production recorded a remarkable increase in April 2017 as it reached 3,160 tons, compared to 2,420 tons in April 2016, due to adding new fields to production and local grid, reported Amwal Al Ghad.

Furthermore, reports of the Central Agency for Public Mobilization and Statistics (CAPMAS) showed that natural gas consumption also largely increased from 2,820 tons in 2016 to 3,340 tons in 2017.

Meanwhile, crude oil and condensates production in the oil and gas sector decreased to 2,660 tons in April 2017, compared to 3,840 tons in the same period of 2016, while oil consumption increased to 3,305 tons in April 2017, compared to 3,200 tons in 2016.