OPEC

Talks between OPEC and its allies are zeroing in on a delay to next year’s planned oil-output increase of three to six months, according to several delegates. Saudi Arabia and Russia, leaders of the 23-nation coalition, have already…
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The Federal Government is optimistic that incorporating digitization ion oil production process is key to reducing the huge Unit Operating Cost (UOC) of producing crude oil in the country to $10 per barrel by December 2021. Technical…
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Crude oil prices recorded impressive gains amid high hopes that leading oil producers will suspend plans on increasing oil supply. The recorded impressive gains in barely four days, gained as much as 12% amid high hopes that the world’s…
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Coronavirus vaccines are expected to boost international passenger transportation and oil consumption, but the first significant impact will not be felt until well into the second half of 2021, based on futures price movements on Monday. …
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Oil surged about 8% on Monday, its biggest daily gain in more five months, after Pfizer announced promising results for its COVID-19 vaccine. Brent crude LCOc1 settled at $42.40 a barrel, up $2.95, or 7.48%, while U.S. West Texas…
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Renewed European lockdowns will delay demand recovery in the global oil market, particularly if these measures are extended into 2021 or further restrictions are re-introduced in the US or other regions, Fitch Ratings says. However, OPEC+…
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Key members of OPEC are wary that strains in the OPEC+ alliance could reemerge with Joe Biden as U.S. President, sources close to the organisation said, and would miss President Donald Trump who went from criticising the group to helping…
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The Organization for Petroleum Exporting Countries, OPEC has eulogized contributions of the European Union, EU at ensuring stability as the coronavirus pandemic sweeps across global oil market. Secretary-General of the Organization,…
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OPEC’s secretary general said on Monday an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market. The Organization of the…
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There is every indication that the OPEC+ production cut target might be extended a little far into the coming year according to the Russian President, Vladimir Putin. This is even as Nigeria is struggling to meet her current quota target. …
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