WorldOil Saudis signal oil output boost, offering relief to consumers OPEC and its allies are likely to gradually revive oil output in the second half of the year to ease consumer anxiety as prices trade near $80/bbl, said Saudi Energy Minister Khalid Al-Falih. OPEC-Russia said to weigh supply boost by ending excess cuts OPEC, Russia and their allies are discussing a plan to boost production for the first time since 2016, responding to soaring prices that have made consumers anxious. SDX Energy's Kelvin-1X well disappoints in Egypt SDX Energy's Kelvin-1X well dissapoints in Egypt ADNOC and ISPRL celebrate arrival of first crude oil shipment for Mangalore strategic reserve A delegation from the Abu Dhabi National Oil Company (ADNOC) attended, a special event at the Karnataka oil storage facility, in the Indian city of Mangalore, to celebrate the unloading of the first cargo of ADNOC crude oil sent to the Indian Strategic Petroleum Reserves Ltd (ISPRL). SDX Energy confirms significant discovery in South Disouq, Egypt SDX Energy Inc., the North Africa focused oil and gas company, has announced the positive results of the well test conducted on the Ibn Yunus 1X well, following the recent conventional natural gas discovery at South Disouq, Egypt U.S. oil gets cheaper versus Mideast crude after Iran sanctions The oil price spread that will determine the type of crude bought by Asia in the wake of U.S. sanctions on Iran is currently in favor of American supply. Iran plans first foreign oil pact since Trump left nuclear deal Iran plans to sign a $1.16-billion agreement with the UK’s Pergas Resources International Ltd. to work on a southern oil field, marking the Persian Gulf nation’s first energy venture with a foreign company since U.S. President Donald Trump ripped up the Iran nuclear deal. Oil rises to $79 in London on Mideast risk from Iran to Gaza Oil climbed to a three-year high near $79/bbl in London on heightened political risks in the Middle East following unrest in Gaza and the return of sanctions against Iran. Iran oil exports face insurance snag no matter what Europe wants If European powers are to succeed in holding together a nuclear deal with Iran that the U.S. abandoned a week ago, then one issue they’ll need to consider is the insurance of oil tankers hauling the Persian Gulf country’s crude. Total signs MOU for integrated gas project In Oman Total has signed a Memorandum of Understanding (MOU) with the Government of Oman to develop natural gas resources in Oman. This MOU covers both upstream and downstream businesses.