Egypt Keeps Oil Prices and Output Unchanged for January

Egypt has decided to keep its crude oil prices and output unchanged for January, according to a statement by Egyptian Oil Minister Abd El-Hadi Kandil in Cairo on 21 December upon his return from Geneva, where he attended the OPEC conference as an observer.

Egyptian crude oil production is currently running at 870,000 b/d. It was reduced to this level from 900,000 b/d last November in a move by Egypt designed to lend support to...