Arrow-right Camera

The Spokesman-Review Newspaper The Spokesman-Review

Tuesday, July 7, 2020  Spokane, Washington  Est. May 19, 1883
Partly Cloudy Day 74° Partly Cloudy
News >  Business

Kuwait to supply Egypt with 2 million barrels of oil a month

Associated Press

CAIRO – Egypt’s state news agency says Kuwait has agreed to supply Egypt with 2 million barrels of crude per month, starting in January.

Tuesday’s announcement comes more than a month after Saudi Arabia halted previously agreed fuel shipments to Egypt as differences over the conflicts in Syria and Yemen strained ties between the two nations.

The Saudi move has ratcheted up pressure on Egypt as it tries to revive a battered economy and overcome a shortage of dollars.

Cairo floated its currency this month and significantly hiked fuel prices.

The MENA news agency says that under the deal with Kuwait, Egypt will get the crude at international prices with no discounts, but with a nine-month grace period.

Local journalism is essential.

The journalists of The Spokesman-Review are a part of the community. They live here. They work here. They care. You can help keep local journalism strong right now with your contribution. Thank you.

Subscribe to the Coronavirus newsletter

Get the day’s latest Coronavirus news delivered to your inbox by subscribing to our newsletter.

Swedish Thoracic Surgery: Partners in patient care

 (Courtesy Bergman Draper Oslund Udo)

Matt Bergman knows the pain and anger that patients with mesothelioma feel.