OPEC

By Teddy Nwanunobi The 17th Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial Meeting (ONOMM), held via videoconference, on Tuesday, June 1, among other things, reaffirmed the existing commitment of the…
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By Teddy Nwanunobi For the first time in two years, Brent oil price, on Tuesday evening, crossed over $71 per barrel. Valuechain reports that the 17th Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC Ministerial…
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LONDON (Reuters) - Climate activists who scored big against Western majors last week had some unlikely cheerleaders in the oil capitals of Saudi Arabia, Abu Dhabi and Russia. Defeats in the courtroom and boardroom mean Royal Dutch…
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OPEC oil output has risen in May as the group agreed to ease supply curbs under a pact with allies, a Reuters survey showed, although a drop in Iranian exports and involuntary reductions in African members limited the increase. The…
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By Teddy Nwanunobi The Organisation for Petroleum Exporting Countries (OPEC), on Monday, said it has revised its global economic growth forecast for 2021 up by 0.1 production parity (PP) to reach 5.5 per cent year-on-year (y-o-y). …
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By Teddy Nwanunobi The Organisation for Petroleum Exporting Countries (OPEC), on Monday, said it has revised its global economic growth forecast for 2021 up by 0.1 million barrels per day (mbpd) to reach 5.5 per cent year-on-year…
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By Teddy Nwanunobi Oil prices climbed in early Asian trade on Monday. This was supported by the bright outlook for fuel demand growth in the next quarter, while investors looked ahead to the Organisation of Petroleum Exporting Countries…
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OPEC and its allies have overproduced their quotas by a cumulative 3.316 million b/d through the end of March, with Russia and Iraq the most egregious offenders, according to an internal document seen by S&P Global Platts. Under the…
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By Teddy Nwanunobi The Nigerian National Petroleum Corporation (NNPC) has disclosed that Nigeria maintained a daily crude oil production of 1.43 million barrels per day in the first quarter of 2021. This is even as the Corporation…
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By Teddy Nwanunobi Due to fears of rising Coronavirus (COVID-19) Pandemic in India, the Organisation of Petroleum Exporting Countries (OPEC) and its allies on the Joint Technical Committee (JTC) have decided to maintain the cartel’s…
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