OPEC

Oil prices inched higher on Thursday, helped by late-day buying in a low-volume session to close out the week. The market built gains overnight as Britain and the European Union reached a post-Brexit trade deal, reversed those gains,…
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OPEC Secretary General, HE Mohammad Sanusi Barkindo, received a letter of appreciation from the Secretary General of the United Nations (UN), HE Antonio Guterres, in a response to a congratulatory letter sent by Secretary General Barkindo…
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Oil prices rose on Monday, pushing Brent back above $50 a barrel, buoyed by hopes that a rollout of coronavirus vaccines will lift global fuel demand while a tanker explosion in Saudi Arabia jangled nerves in the market. Brent crude…
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Oil surged above $50 a barrel on Thursday for the first time since early March as hopes of a faster demand recovery after the release of COVID-19 vaccines offset a huge rise in U.S. crude inventories that showed there was still ample…
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The 12th OPEC and non-OPEC Ministerial Meeting (ONOMM) was successfully held via videoconference, on Thursday, 03 December, 2020. The Meeting welcomed the new Russian Minister of Energy, HE Nikolai Shulginov. The Meeting recalled the…
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Top energy decision makers from across the Organisation of Petroleum Exporting Country (OPEC) are scheduled to meet today in furtherance of the 23-nation network’s consideration oil output. Today’s full OPEC ministerial meeting comes…
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Global oil prices yesterday hit the highest level since March rising above $48.86 per barrel as hopes for a COVID-19 vaccine rollout within weeks brightened the outlook for fuel consumption. Brent crude, the international benchmark,…
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*JMMC reaffirms commitment to full conformity For the coming year, the Organization of the Petroleum Exporting Countries, OPEC forecasts demand growing by at least 6 million barrels per day. While delivering his opening remarks at…
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Oil prices slipped on Thursday as hopes for a vaccine were overshadowed by a surge in new cases of the coronavirus around the world, which raised concerns about the outlook for crude demand. While early U.S. trading erased some earlier…
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The Minister of State, Petroleum Resources, Timipre Sylva, on Monday, said Nigeria has cut its crude oil production level from over 2 million barrels a day to 1.4m barrels in compliance with the quota endorsed by the Organisation of…
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