Egypt’s oil output fell to a two and a half year low of 619,000 b/d for September with output from the country’s oil heartland Western Desert also slipping to its lowest level since April 2017.
Egypt’s target of reaching oil output of 690,000 b/d by June next year appears to be slipping further and further out of reach, with oil output in Q3 this year falling to 625,300 b/d, the lowest quarter since 4Q 2017. This has coincided with output from the key oil heartland Western Desert also declining, with Q3’s 339,600 b/d the lowest quarter since 1Q 2017 (see chart 1). (CONTINUED - 707 WORDS)
