OPEC

Oil prices tumbled 5% in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) reduced its economic growth forecasts and warned of higher inflation. Prices fell despite lower output from OPEC+,…
Read More...

Key oil producers in West Africa are experiencing dwindling sales as export to Europe and Asia appear to be on steady decline. Report shows that Russia’s invasion of Ukraine has caused one of the biggest upheavals to global…
Read More...

The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March 2022. OPEC made this known in its Oil Market Report for April 2022…
Read More...

Nigeria’s billionaire businessman, Tony Elumelu has stated that the country couldn’t meet its oil production quota as approved by the Organisation of Petroleum Exporting Countries (OPEC) due to huge volume of crude oil theft. His…
Read More...

Oil prices climbed over 7% on Thursday after the International Energy Agency (IEA) said three million barrels per day (bpd) of Russian oil and products could be shut in from next month and despite the U.S. Federal Reserve’s decision to…
Read More...

Energy Transition Threatens 16tscm Of Gas The Organisation of Petroleum Exporting Countries (OPEC) has warned that the continuous push against hydrocarbon may threaten the future of crude oil and gas reserves in Africa. While the…
Read More...

The Organization of the Petroleum Exporting Countries (OPEC) says the oil and gas industry must harness the world’s most advanced technologies and breakthrough innovations to promote a lower-carbon future. This,…
Read More...

By YANGE IKYAA Russia’s Deputy Prime Minister, Alexander Novak, has warned that if the United States and the European Union were to ban imports of oil from Russia, oil would move to $300 per barrel. As the…
Read More...

Chief Timipre sylva, Minister of State for Petroleum Resources, has expressed that the increase in prices of global crude oil is not good for the country. Speaking on the rising crude oil prices in an interview with Bloomberg…
Read More...

...High oil prices are good for Russia’s budget and for its hard-to-recover oil resources and projects, on the one hand, but oil so high is also hitting other sectors of the economy and slows demand growth, on the other hand, the…
Read More...