OPEC

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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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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