OPEC

More loading programmes for Nigerian crude in March were issued on Friday while differentials appeared to be under downward pressure from ample supplies in February. Bonny Light is loading six cargoes in March, while Forcados is loading…
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Oil prices edged up on Monday as a weaker dollar offset fresh concerns about the hit to global fuel demand from renewed lockdowns to curb the spike in COVID-19 infections. Brent crude futures for March rose 32 cents, or 0.6%, to $55.73…
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The production policies of the non-member countries of the Organisation of Petroleum Exporting Countries (OPEC+) and pandemic’s path will continue to drive global oil prices in the year and result in global oil demand declining marginally…
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Falling oil prices and weak demand in 2020 have severely affected revenues from the marketing of Algerian oil. This situation will increase the pressure on the country’s foreign exchange reserves. In a note published on Sunday,…
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Buyers have canceled several Libyan Amna, Abu Attifel and Zueitina crude oil purchases after high mercury levels were detected in the cargoes, sources close to the matter said Jan. 21. The sources said that the issue had so far only…
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The price of Nigeria’s Bonny Light rose yesterday in the international market following the expectation that the United States’ new president, Joe Biden, would ‘act big’ in tackling the Coronavirus (COVID-19) pandemic. The prolonged…
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Brent oil extended gains above $56 a barrel, rising with other assets on hopes of more U.S. economic stimulus and a weaker dollar. While crude prices have largely undulated with the American currency in recent days, the oil market’s…
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The Secretary General, Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, has said that given the very bad experience of 2020, the worst part of the crisis in the global oil market has been put behind it by the oil…
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One of the beneficiaries of the unprecedented monetary and fiscal stimulus, the Biden electoral victory, the Democratic “blue wave” win, and the discovery of the COVID-19 vaccine is crude oil. Optimism over the economic recovery lifted…
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Oil prices fell more than 2% on as concerns about Chinese cities in lockdown due to coronavirus outbreaks tempered a rally driven by strong import data from the world’s biggest crude importer and U.S. plans for a large stimulus package. …
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