OPEC

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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"The Federal Government had repeatedly stated that it was making efforts to grow the country’s oil reserves in a bid to increase Nigeria’s revenue from crude sales" The 2021 Annual Statistical Bulletin of the Organisation of…
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"...Much of the demand growth materialises in 2021-23, as part of the recovery process from the COVID-19 pandemic" By Teddy Nwanunobi The Organisation of Petroleum Exporting Countries (OPEC), in its 2021 World Oil Outlook (WOO…
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By Teddy Nwanunobi Oil markets eased on Tuesday, after a five-day rally as investors took profits on fears that higher prices may weaken fuel demand, though market sentiment remained firm amid tight supply. Subsequently Brent…
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By Teddy Nwanunobi Goldman Sachs has raised its forecast for global crude oil predicting that prices could reach $90 per barrel by the end of this year, up from $80, due to supply disruptions in the Gulf of Mexico and signs of…
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