OPEC

-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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Two weeks ago, the Organisation of Petroleum Exporting Countries (OPEC) announced the appointment of Nigeria’s Minister of State for Petroleum Resources, Chief Timipre Sylva to act as special envoy to four countries, which includes,…
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Oil prices fell on Thursday, paring recent gains, as renewed lockdowns and the emergence of new coronavirus variants reduced the prospect of a swift demand recovery. Brent crude fell 20 cents, or 0.3%, to $61.27 a barrel by 1453 GMT and…
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The organization of petroleum exporting countries has postponed its 60th anniversary celebration which was slated for the 26th of February 2021 in Baghdad, the Iraqi capital, to May 2021. In a memo addressed to the entire oil producing…
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Brent oil prices Monday shot past $60 a barrel for the first time in more than a year Monday with investors growing increasingly optimistic about demand as the global economy recovers from the coronavirus pandemic. The…
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