OPEC

By YANGE IKYAA Following the conclusion of the 25th OPEC and non-OPEC Ministerial Meeting (ONOMM), held via videoconference on Wednesday, and in view of current oil market fundamentals and the consensus on the outlook, the OPEC and…
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There is crude output by the Organization of the Petroleum Exporting Countries (OPEC) in millions of barrels per day (bpd) in January and December, according to a Reuters survey published on Monday.  OPEC and allies, known as OPEC+,…
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The current move in oil prices is largely attributed to geopolitical risk.The next major move in oil could be triggered if inventories fall to critical levels.Wall Street’s consensus seems to be that Brent will reach $100 by the summer…
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*The OPEC Reference Basket of Crudes (ORB), introduced on June 16, 2005 is currently made up of the Saharan Blend (Algeria), Girassol (Angola), Bonny Light (Nigeria), Djeno (Congo) and Zafiro (Equatorial Guinea) The price of the…
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Uncertainties still becloud ability of Nigeria to meet its crude oil production quota despite assurances of its newly enacted petroleum law. The Petroleum Industry Act, enacted last year largely settles key grey areas that have…
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...Frantic oil buying driven by supply outages and signs the Omicron variant won’t be as disruptive as feared has pushed some crude grades to multi-year highs, suggesting the rally in Brent futures could be sustained a while longer,…
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The Organisation of the Petroleum Exporting Countries (OPEC) says World total oil demand in 2021 is pegged at 96.5 million barrel per day (mb/d( and at 100.6 mb/d in 2022, surpassing pre-pandemic levels. OPEC Secretary General, Mr…
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"Nigeria and Angola are the biggest culprits in Africa, having consistently failed for months to meet its OPEC allocation" Oil prices jumped more than 3 per cent yesterday, consistently defying predictions of a surplus supply amid…
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The price of crude oil rose in London on Friday morning as an uprising in Kazakhstan led to concerns about disruptions in crude supplies from the OPEC+ producers at a time when Libyan output has dropped. Brent crude futures gained…
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By YANGE IKYAA OPEC Secretary General, HE Mohammad Sanusi Barkindo, on Thursday visited the Al-Shaab Hall in the Bab Al-Muaatham district in Baghdad during his mission to Iraq. The Al-Shaab Hall is the site of OPEC’s founding. It…
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