Egyptian oil output rose by 1% month-on-month to 526,000 b/d in July, up 4% year-on-year, the latest Ministry of Petroleum data show. Output averaged 523,000 b/d over 7M 2026, up 2% from 515,000 b/d a year earlier, when output was at a more-than 40-year low.
The Gulf of Suez has driven the improvement, with crude output averaging 133,000 b/d, up 9% year-on-year. Gains here have been led by UAE firm Dragon Oil where output from its North Safa field topped 18,000 b/d in July after the SB293-9 well came online according to the petroleum ministry. This raised Dragon’s Egypt production to 71,250 b/d, its highest since 2019, the ministry added. (CONTINUED - 190 WORDS)