OPEC

Brent, the crude against which Nigeria’s oil is priced, dropped in price on Monday morning following the agreement reached by members and allies of the Organisation of Petroleum Exporting Countries to increase oil production. Industry…
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OPEC has agreed to boost oil supplies amid a surge in prices, Reuters reported on Sunday. It said it will add 400,000 barrels each month by the end of the year and agreed to new production adjustments amounting to 1.63 million more barrels…
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Pegs global economic growth for 2022 at 4.1% Projects total oil demand for 2021 at 96.6mbpd By Teddy Nwanunobi The Organisation of the Petroleum Exporting Countries (OPEC) Reference Basket (ORB) increased for the…
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By Teddy Nwanunobi Latest information from the Organisation of the Petroleum Exporting Countries (OPEC), following its meetings of July 12 to 14, said that the crude oil futures rose on July 13 as strong demand combined with the…
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Oil’s rally fizzled as a build in U.S. fuel inventories and a potential OPEC+ agreement to increase supply cooled a buying spree that had pushed the market above US$75. Futures in New York fell 2.8 per cent, the most since May. Both…
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*Hails Buhari, NASS for PIB passage ...Greets Nigeria at 50 as OPEC member -By Saidu Abubakar Mohammad Sanusi Barkindo, OPEC Secretary-General has, in a Goodwill Message at the 4th Valuechain Annual Lecture and Awards, Monday in…
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When Nigeria became a sovereign state on October 1, 1960 and thus assumed the status of an international player, it did not take time before it dawned on the country’s political leaders that, the country would need multilateral diplomacy…
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By Teddy Nwanunobi For a second on Friday, oil prices rose, as data showed a draw in U.S. inventories, but were headed for a weekly loss amid uncertainty about global supplies fueled by an Organisation of the Petroleum Exporting…
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By Teddy Nwanunobi Oil rose to $75 a barrel on Wednesday with support coming from a tight market, after a steep drop from multi-year highs in the previous session amid uncertainty about OPEC+ supply policy. Underlining current…
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OPEC+ abandoned its meeting without a deal, tipping the cartel into crisis and leaving the oil market facing tight supplies and rising prices. OPEC+ abandoned its meeting without a deal, tipping the cartel into crisis and leaving the…
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