By Lucas Ajanaku Global oil demand is expected to increase by 6.56 per cent or by 5.9 million barrels per day (bpd) to an average...
The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC)...
The Organisation of Petroleum Exporting Countries (OPEC) at its meeting yesterday agreed to cut production by a total of 1,775,000 barrels per day (bpd). While February...
By Lucas Ajanaku The price of Brent oil gained more than four per cent yesterday as the Organisation of Petroleum Exporting Countries (OPEC) and its...
Despite the stability of oil prices at $50 per barrel in recent times, the Organisation of Petroleum Exporting Countries, OPEC, has painted a mixed oil market...
Meeting comes amid uptick in prices towards the end of last year despite markets remaining uncertain. Members of the OPEC group of oil producers and their...
Our Reporter WHILE the most recent Petroleum Status Report tilted firmly into positive territory, the crude market has taken a cautious stance despite the bullish...
Compliance of OPEC and non-OPEC oil producing countries with the OPEC+ production cuts last month fell by two percentage points to 101 per cent, according to...
The Organisation of Petroleum Exporting Countries (OPEC), says the Nigerian Crude oil export earnings rebounded by 116 per cent in November against 77 per cent in...
World’s oil producers are struggling to agree on how much crude to pump after global energy demand fell due to pandemic. Oil prices rose on Thursday...
Big oil exporters reportedly delay talks on output levels until Thursday amid disagreements on production cuts as demand remains weak. Oil prices fell on Tuesday as...
Agency Reporter energy decision makers from across the Organisation of Petroleum Exporting Country (OPEC) are scheduled to meet today in furtherance of the 23-nation network’s consideration...
Saudi Energy Minister Abdelaziz bin Salman said on Tuesday that major oil countries might have to adapt their current production strategy in the face of the...
Oil fell more than one per cent on Friday and headed for a weekly drop as demand concerns raised by surging coronavirus cases in the United...
New refining capacities expected to come on stream in Nigeria and other African countries in the next few years may increase pressure on existing plants on...
World oil demand will plateau in the late 2030s and could by then have begun to decline, the Organization of the Petroleum Exporting Countries (OPEC) said...
OPEC faces a critical moment in its 60-year history with the coronavirus crushing crude demand and prices, discord among its members, and threats from a world...
A police officer stands guard on the rooftop of Vienna’s OPEC headquarters during a meeting of the OPEC conference March 11, 2003. [The OPEC oil cartel...
Lucas Ajanaku THE Organisation of the Petroleum Exporting Countries (OPEC) has said it expects global oil demand growth to fall by 9.1 million barrels per...
By Lucas Ajanaku The coronavirus crisis may have triggered the long-anticipated tipping point in oil demand and it is focusing minds in the Organisation of...
Oil prices eased on Thursday after OPEC and allies, such as Russia, agreed to taper record supply curbs from August, though the drop was cushioned by...
Oil prices rose more than one per cent on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet commitments...
Oil climbed on Monday after major producers agreed to extend a deal on record output cuts to the end of July and as China’s crude imports...
Oil prices edged down on Monday as traders took profits, with the Organisation of the Petroleum Exporting Countries (OPEC) considering meeting as soon as this week...
Not all OPEC nations are rich and can weather a storm like the coronavirus pandemic with oil prices also sliding into negative territory, however briefly. ...
The Organisation of the Petroleum Exporting Countries (OPEC) daily basket price stood at 14.63 U.S. dollars a barrel on Tuesday, compared with 14.19 dollars on Monday....
Mr Mohammad Barkindo ...
John Ofikhenua, Abuja Nigeria on Easter Sunday joined its other Organisation of Petroleum Exporting Countries (OPEC)+ counterparts to bring into effect the agreement to cut 9.7...
The world’s largest oil producers have agreed to slash production amid plummeting demand. Source
A police officer stands guard on the rooftop of Vienna’s OPEC headquarters during a meeting of the OPEC conference March 11, 2003. [The OPEC oil cartel...
Nigeria’s daily oil production capacity for the rest of the year will be significantly below the revised volume of about 1.7 million barrels contained in the...
Top oil producers started a crucial meeting on Thursday to discuss a possible cut in output after a collapse in demand due to the coronavirus...
By Chikodi Okereocha The Organisation of the Petroleum Exporting Countries (OPEC) has been urged to reach a deal on ending the oil prices war. Making...
The Government of Nigeria wishes to assure the Nigerian and international communitiesthat it is watching developments in the oil and gas industry with keen interest. Specifically,...
John Ofikhenua, Abuja The Minister of State for Petroleum Resources, Chief Timipre Sylva on Monday pledged Nigeria’s readiness for the deliberations on output cut that the...
A police officer stands guard on the rooftop of Vienna’s OPEC headquarters during a meeting of the OPEC conference March 11, 2003. [The OPEC oil cartel...
For a while, it seemed as if Russia and Saudi Arabia were building a strong new relationship based on common interests in the Middle East and...
Our Reporter Oil prices tanked more than seven per cent at the weekend to their lowest levels since mid-2017 after Russia balked at Organisation of...
A police officer stands guard on the rooftop of Vienna’s OPEC headquarters during a meeting of the OPEC conference March 11, 2003. [The OPEC oil cartel...
A police officer stands guard on the rooftop of Vienna’s OPEC headquarters during a meeting of the OPEC conference March 11, 2003. [The OPEC oil cartel...
Our Reporter There are indications that Organisation of Petroleum Exporting Countries (OPEC), and `its allies, especially Russia, will further cut oil supply by 500,000 barrels per...
Our Reporter The oil output of the Organisation of the Petroleum Exporting Countries (OPEC) fell in December as Nigeria and Iraq adhered more closely to pledged...
Oil prices rose on Thursday, buoyed by a potential breakthrough in the Sino-U.S. trade war and OPEC-led efforts to constrain supply, although trading was quiet as...
Oil fell on Monday after Russia said an OPEC-led pact may consider easing output cuts next year, but prices held near recent three-month highs on hopes...
Oil prices rose on Thursday, recouping some of the previous session’s losses after OPEC forecast a supply deficit next year and the U.S. Federal Reserve said...
FILE PHOTO: An oil pump is seen operating in the Permian Basin near Midland, Texas, U.S. on May 3, 2017. REUTERS/Ernest Scheyder/File Photo OPEC and its...
Oil prices were mixed on Friday in quiet trade, with the U.S. Thanksgiving holiday limiting activity, while investors awaited a meeting of OPEC and its allies...
Oil prices held near two-month highs on Friday and were set for a third consecutive week of gains, boosted by expectations of an extension to OPEC+...
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