OPEC

Oil was little changed on Monday amid hopes that fuel demand is picking up in the U.S. as the summer driving season approaches and COVID-19 vaccinations there accelerate, although rising case numbers in other countries are keeping a lid on…
Read More...

By Teddy Nwanunobi Nigeria’s oil production from January to October 2020, according to the latest data from the Nigerian National Petroleum Corporation (NNPC), fell by 10.25 per cent, when compared to similar period in…
Read More...

By Teddy Nwanunobi Oil prices gained early on Tuesday, following a drop in the U.S. dollar, which made crude a more attractive buy, paring losses of more than 4 per cent incurred overnight on the prospect of producers returning more…
Read More...

By Teddy Nwanunobi The price of the Organisation of the Petroleum Exporting Countries (OPEC) basket of 13 crudes stood at $63.07 per barrel on Wednesday, the Organisation said on its website on Thursday. The above price compared with…
Read More...

By Teddy Nwanunobi The World Trade Organisation (WTO), on Wednesday, said that the falling oil prices led to a 35 per cent contraction in trade in fuels in 2020 as a result of the outbreak of the Coronavirus (COVID-19) Pandemic. …
Read More...

By Teddy Nwanunobi The Organisation of the Petroleum Exporting Countries (OPEC), on Wednesday, commended the rollout of the COVID-19 vaccines and large fiscal stimulus in some countries, saying that it was encouraging for economic…
Read More...

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…
Read More...

*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…
Read More...

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…
Read More...

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…
Read More...