Tuesday, 19 October 2021

Tag Archives: oil production

Top oil producers except Mexico agree to output cuts

LONDON: Major oil producers except Mexico agreed to cut output in May and June by 10 million barrels per day, OPEC said Friday, after marathon talks to counter a collapse in prices. The agreement, which reduces production to eight million bpd from July to December, depends on Mexico’s consent for ...

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BP profits double as oil production increases

LONDON: British energy major BP on Tuesday (Oct 31) logged a modest increase in third-quarter net profit, energised by a recovery in the global price of oil. BP said in a statement that bottom-line net profit rose by nine per cent to US$1.769 billion (€1.521 billion) in the three months ...

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