The Organization for Petroleum Exporting Countries or OPEC saw its production numbers fall by 340,000 bpd in November. The drop in production can partially be attributed to Libya’s stumbling in its production recovery. During their latest meeting in Vienna the cartel members decided it would not rein in production to stop the freefall crude prices […]

Algeria will export LNG to Egypt over a five-month period in 2015 according to Egypt’s oil ministry. The contract is expected to be signed by the end of December. Under the contract Egypt will import six cargos of Algerian LNG between April and September. In addition, a long-delayed agreement between Egypt and Norway’s Hoegh LNG […]

The price of oil continues its downward slide with Brent crude falling more than $2 per barrel on December 8 to a new five-year low. In the US crude touched $64.14 per barrel before settling at $64.60 per barrel, down $1.24. While some analysts claim without OPEC intervention prices could see prices as low as […]