Egypt’s crude and condensate output fell to a 38-year low 623,000 b/d in 2019. But the country’s oil import bill has also been falling fast. The addition of new, more sophisticated, refining units, is seeing record domestic products output. Whilst imports continue, they are increasingly of lower-value crude rather than high-value gasoline and diesel. Meanwhile, with the lifting of subsidies on transport fuel demand has fall for each of the last three years.