OPEC

Sales remained slow and few cargoes traded with refining margins still squeezed. * Traders expected the Qua Iboe export terminal to resume production this week, though such expectations earlier this month proved overoptimistic and Exxon…
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…To Focus More on Gas, Condensats for Revenue Growth The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC)…
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Oil prices held most of their gains at the start of trading in London. This is happening amid rising numbers of COVID-19 cases globally, which has weakened some traders’ resolve in betting bullish. However, expectations of a plunge in…
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The Price of Bonny Light, Nigeria’s premium oil grade, has risen to $54.11 per barrel, apparently, the highest in 2021, as the Organisation of Petroleum Exporting Countries, OPEC, and others move to achieve stability in the market. This…
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The Organisation of Petroleum Exporting Countries (OPEC) on Tuesday upheld its December 3, 2020 decision to increase crude oil production output by 500,000 barrels per day for February and March, 2021. The plan will, however, see…
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The price of Brent oil gained more than four per cent yesterday as the Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, resumed talks on February production quota. Brent oil price hit over $53 a…
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Oil traders appear increasingly confident that major producers will reach an agreement to cap output thanks to comments from Russia’s energy minister on Monday, but Saudi Arabia still holds the cards that will determine how far the rally…
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A monthly report from the Organization of the Petroleum Exporting Countries released Tuesday raised further doubts whether major crude producers will continue their efforts to rebalance the oil market. U.S. crude production is on the…
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*Kingdom to curb 1 million b/d of supply in February, March*Crude surged to 10-month high above $50 a barrel in New York Saudi Arabia surprised the market with a large cut in crude production, a bold assertion of primacy over the global…
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Members of the Organisation of the Petroleum Exporting Countries (OPEC) and allied producers under OPEC+, yesterday, agreed to cap crude production at current levels in February. The decision was taken at the Joint Ministerial Monitoring…
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