Egypt wants to increase oil production by 9 percent

Egypt is planning to increase crude oil production by almost 9 percent during the next fiscal year 2024/2025 with the aim of reaching 637 barrels per day, up from the current 580 barrels. An Egyptian official told the news site "Asharq Business" on condition of anonymity.

Egypt consumes nearly 12 million tons of gasoline and around 6,7 million tons of diesel annually. Increasing oil production would mean reducing imports of fuel products in a context of currency shortages.