The architect of the output-cut plan, OPEC Secretary-General Mohammad Barkindo, has said inventories are the primary target–not the U.S. shale producers who are often described as the cartel’s chief adversary. OPEC has begun pushing countries to disclose more information. Source: Global Finance
Days before the start of the tourist season, hotel and restaurant owners in Romania’s Black Sea resorts say they face the worst staff shortage in 28 years. Romania’s Black Sea resorts are set to start their 2018 tourist season this weekend, with over 40,000 visitors expected to head to the seaside for the traditional May 1 break. Source Balkan Insight
Iran says that its crude oil exports to India have hit 700,000 bpd this month, with sales volume “unprecedented”, Iranian media report, quoting a statement by the Iranian oil ministry. Source: Oil Price
The European Union and Egypt have signed a Memorandum of Understanding (MoU) for a strategic partnership on energy. Egypt’s Electricity and Renewable Energy Minister Mohamed Shaker, Petroleum and Mineral Resources Minister Tarek al-Molla, and EU Climate Action and Energy Commissioner Miguel Arias Cañete signed the MoU during the latter’s official visit to Egypt on April 23. Source: New Europe
