OPEC

Nigeria Under-Produced Crude Oil by 72.6m Barrels in 10 Months

Despite the easing of both the COVID-19 restrictions and the output cuts by the Organisation of Petroleum Exporting Countries (OPEC),…

3 years ago

US May Counter OPEC’s Refusal to Raise Oil Supply

The United States Government on Saturday said that it  had “tools” to deal with high oil prices after the Organisation of…

3 years ago

Oil Price Continues Bullish Run, Now $83 as OPEC Delays Nigeria’s Request for New Baseline

Oil prices continued to climb on Tuesday, hitting their highest levels in years and extending gains. Apparently, the rally was…

3 years ago

Nigeria Posts OPEC’s Biggest Output Gain in September

  Oil output of members of the Organisation of Petroleum Exporting Countries (OPEC) rose in September to its highest since…

3 years ago

OPEC: Nigeria, Other Members Lost $240bn to Collapse in Oil Demand in 2020

The Organisation of Petroleum Exporting Countries (OPEC) lost over $240 billion last year,  following the collapse in demand and prices…

3 years ago

OPEC Increases 2022 Global Oil Demand Forecast By 1mbpd

The Organisation of Petroleum Exporting Countries (OPEC) on Monday expanded its global oil demand forecast for 2022 by almost one…

3 years ago

OPEC+ Resolves Impasse, to Boost Production by 400,000bpd

After over a two-week stalemate, the Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+ on Sunday…

3 years ago

OPEC, UAE Move to Resolve Oil Quota Stalemate

The Organisation of Petroleum Exporting Countries (OPEC) has moved to sort out its impasse with the United Arab Emirates (UAE),…

3 years ago

Nigeria Reaffirms Commitment to OPEC’s 1.554m bpd Oil Quota

The Nigerian government on Monday pledged its renewed commitment to full compliance with the country’s crude oil production quota, which…

3 years ago

Saudi-UAE Rivalry Takes Shape Amid OPEC Spat and Competing Hubs

New Saudi import rules, disagreements over how to unwind OPEC production cuts and a race to claim the mantle of…

3 years ago

OPEC Defers Decision on Oil Output Cuts

The Organisation of Petroleum Exporting Countries (OPEC) on Thursday failed to agree on whether or not to keep crude oil…

3 years ago

Oil Prices Up to $75 Ahead of OPEC+ Decision on Supply Cuts

Oil prices edged higher on Thursday, supported by lower U.S. inventories, as investors waited for a decision from key producers…

3 years ago

Nigeria’s Oil Production Hits Record Low in May: OPEC

Nigeria’s crude oil production output hit record low levels in May, the June Monthly Oil Market Report (MOMR) of the…

3 years ago

Oil Price Hits 30-month High on OPEC’s Demand Rally Forecast

Crude oil prices Tuesday climbed to the highest point in more than two-and-a-half years, after the Organisation of Petroleum Exporting…

3 years ago

Report: Nigeria’s Losses Constrain OPEC Oil Output in May

Oil production output by the Organisation of Petroleum Exporting Countries (OPEC) rose in May as the group agreed to ease…

3 years ago

OPEC: Nigeria’s Oil Sector Growth Declined by 19.8% in Q4 2020

Nigeria’s oil and gas industry growth declined by 19.8 per cent in the fourth quarter of 2020 compared with the…

4 years ago

OPEC Raises Forecast on Members’ Crude Supply

The Organisation of Petroleum Exporting Countries (OPEC) on Tuesday lifted its forecast on its members' crude this year by over…

4 years ago

OPEC Leaves Production Plan Unchanged, Cancels Ministers’ Meeting

The Organisation of Petroleum Exporting Countries (OPEC) and its allies on Tuesday resolved to stick to plans for a phased…

4 years ago

OPEC Raises Oil Demand Growth on Stronger Economic Recovery

The Organisation of Petroleum Exporting Countries (OPEC) has raised its forecast for crude oil demand growth this year on the…

4 years ago

In Bid to Boost Prices, Saudi Arabia Ready to Extend Oil Cuts By OPEC+

Saudi Arabia is prepared to support extending oil cuts by OPEC and allies into May and June and is also…

4 years ago