OPEC

The Organization of Petroleum Exporting Countries Plus (OPEC+) has agreed to accelerate its oil production hikes for the second month in a row, confirming on Saturday that output will rise by 411,000 barrels per day in June, despite…
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Dangote Refinery The Organisation of the Petroleum Exporting Countries says the Dangote Petroleum Refinery and its efforts to ramp up Premium Motor Spirit (petrol) production are impacting the PMS market in Europe. The…
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Nigeria’s crude oil production experienced a marginal increase in October 2024, reaching an average of 1.33 million barrels per day (bpd). This information was disclosed in the Organisation of Petroleum Exporting Countries (OPEC)’s…
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Chevron Nigeria Limited has found a new oil field in the shallow offshore area of the Western Niger Delta. The new oil field was estimated to hold 17,000 barrels of oil per day. Chevron, one of Nigeria’s biggest oil producers, works…
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Nigerian crude traded at a premium, above $80 a barrel, despite moderation in China’s inflation rate and an opaque situation surrounding the country’s economic stimulus plans, which have triggered concerns about energy demand in the…
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OPEC A halt in Libya’s oil production and improved compliance from OPEC’s second-largest producer Iraq pushed the total output of the OPEC+ group down by around 500,000 barrels per day (bpd) in September, according to the Platts OPEC+ …
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OPEC Headquarters The Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia are known collectively as OPEC+ and will meet on June 2 to discuss their joint oil production policy. Below are key facts…
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The oil market slowed down by more than 4 per cent on Tuesday following news of a possible ceasefire between Hezbollah and Israel. This shrank the price of Brent crude by $3.75 or 4.63 per cent to $77.18 a barrel and weakened the US…
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OPEC The crude oil market faces a critical juncture, driven by escalating geopolitical tensions in the Middle East and questions over global spare production capacity. Traders are caught between the potential for significant supply…
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Brent and Nigerian oil blends recorded a rebound to around $78 per barrel on Friday from a low of $70 amid escalating tensions in the Middle East, which heightened fears of supply disruptions. Particularly, data from Oil.price.com…
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