OPEC

By Teddy Nwanunobi The Organisation of the Petroleum Exporting Countries (OPEC) has commended President Muhammadu Buhari taking the bold steps to invest in critical gas projects in the country. “I would like to commend the President…
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*Says Nigeria Critical To Global Energy By Teddy Nwanunobi More than $12 trillion will be needed in the upstream, midstream and downstream globally by 2045, according to the projections of the Organisation of the…
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Crude oil, petroleum oils and oils obtained from bituminous minerals, took over 70% of Nigeria’s total value of exports in the fourth quarter of 2020, according to statistics. Newly released ‘Foreign Trade Statistics Q4 2020’ by the…
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Crude futures rallied nearly 3% March 11 amid a rising tide of bullish sentiment fueled by improved second-half 2021 outlooks. In its closely watched Monthly Oil Market Report released March 11, OPEC revised up its forecast of 2021 oil…
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-By Teddy Nwanunobi Following reports of terrorist attacks on Saudi Arabia’s facilities, oil prices jumped past the $70 a barrel price level, at the first trading session of the week for the first time since the worst pandemic in human…
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Oil prices rose more than 1% on Friday, extending gains from the previous session, after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand amid the coronavirus pandemic. Brent…
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Succour seems to be creeping back the way of the global oil market as both the economic outlook and oil market prospects show signs of continued improvement. This is due to the fact that the headwinds of uncertainty that shocked and…
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Secretary General of OPEC, Mohammad Sanusi Barkindo has condoled with the authorities of the Kingdom of Saudi Arabia over the death of its former Minister of Petroleum and Mineral Resources, His Excellency Sheikh Ahmed Zaki Yamani. He…
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Goldman Sachs Group Inc. has raised its price estimates and is predicting that Brent will reach $70 a barrel in the second quarter and $75 in the following three months, $10 above its previous forecasts, according to a note. Consumption…
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Saudi Arabia and Russia are once again heading into an OPEC+ meeting on opposite sides of a crucial debate about the oil market. Riyadh is publicly urging fellow members to be “extremely cautious,” despite prices rebounding to a…
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