OPEC

"OPEC has been committed to supporting stability in the global oil market since it was founded in September 1960 in Baghdad, Iraq" By Teddy Nwanunobi The Secretariat of the Organisation of Petroleum Exporting Countries (OPEC)…
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By Teddy Nwanunobi Saudi Arabia reduced oil prices for its main buyers, a day after OPEC+ sent crude futures surging by sticking to a plan for slow and steady supply increases. State firm Saudi Aramco’s cuts for customers in…
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"This means Nigeria’s landing cost of petrol is expected to rise closer to N250 per litre" By Teddy Nwanunobi Nigerian states, including local government areas, might face financial difficulties in the coming months as the rise…
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“If output continues to fall short of the group’s targets, oil prices could remain high into next year as well” By Teddy Nwanunobi Some analysts have seen the Organisation of Petroleum Exporting Countries (OPEC) oil strategy as…
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By Teddy Nwanunobi The Organisation of Petroleum Exporting Countries (OPEC) will, on Monday, October 18, jointly host the Third Annual Legal Workshop, with the Energy Charter Secretariat (ECS) and the OPEC Fund for International…
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"The OPEC+ ministeial panel, known as the JMMC, that monitors the market gathered for online talks ahead of the full-ministerial meeting" An OPEC+ ministerial panel has recommended that the oil producing group stick to an existing…
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The Organisation of Petroleum Exporting Countries (OPEC), saw a sharp decline in its global crude export in 2020, following disruptions occasioned by the COVID-19 pandemic. According to available data, OPEC member countries exported…
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Although Nigeria is a major producer of crude oil and gas, the country largely depends on imported petroleum products that are refined in foreign nations The amount spent on the importation of petroleum products into Nigeria in 2020…
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"Under the refinery capacity, the downstream sector in OECD countries declined sharply, while Asia and the Middle East added capacity" * Proven crude reserves increased by 0.2%, gas reserves fell by 0.4% By Teddy Nwanunobi …
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Crude prices inched down for the second straight day on Wednesday amid concerns about a slowing Chinese economy as well as increase in the US output. At 1325 hours GMT, Brent, the international benchmark for two-thirds of the world’s…
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