OPEC

By Teddy Nwanunobi The Economic Commission Board (ECB), the economic and technical think-tank of the Organisation of the Petroleum Exporting Countries (OPEC), has commenced a two-day meeting on Tuesday via videoconference to conduct a…
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The price of the international crude benchmark, Brent crude, climbed to $73.17 per barrel on Monday, June 14. This is the highest level it has reached since October 2018. One of the major drivers of this is the rollout…
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-By Saidu Abubakar Stringent regional lockdowns resulting in weak consumption, following COVID-19 pandemic in India, have forced Nigeria's crude variants to now seek other buyers in Asia and Europe. Agncy reports quoted S&P…
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Crude oil prices could rise to $200 per barrel as international oil companies curb their investments in new exploration and production, the Nigerian National Oil Corporation said this week. The effect of investment decisions being made…
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Saudi Energy Minister Prince Abdulaziz Bin Salman Al Saud and Russian Energy Minister Alexander Novak. Photo: Reuters Russia was close to complying 100 percent with its oil production quota under the OPEC+ deal in May, Russian…
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Saudi Arabia’s Energy Minister, Prince Abdulaziz bin Salman has stated in an interview with S&P Global Platts last week that Saudi Arabia is no longer an oil-producing country. “Saudi Arabia is no longer an oil country, it’s an…
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Amid optimistic demand expectations, the price of crude oil has made back all that it lost during the Covid-19 pandemic as oil futures finished the week by up to 5 per cent higher. According to Valuechain findings, Brent, the…
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Oil extended gains on Friday, topping $72 a barrel for the first time since 2019, as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe. The Organization of the…
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·       Says industry’s future at stake By Teddy Nwanunobi The sum of $12.6 trillion worth of investments will be required until 2045, as the Organisation of the Petroleum Exporting Countries (OPEC) continues to advocate for the…
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LONDON (Bloomberg) --OPEC+ stuck to its plan to hike oil output in July, but Saudi Arabia’s energy minister kept the market guessing as to whether the group will add more supply later this year to keep pace with the accelerating global…
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