OPEC

The 20th Meeting of the Joint Ministerial Monitoring Committee (JMMC) took place via videoconference today, Wednesday, 15 July 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and…
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Today, Wednesday, a joint ministerial committee oversees production for OPEC + member states to give a recommendation on production policy, starting in August. The Organization of the Petroleum Exporting Countries (OPEC) and its allies,…
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The Organisation of Petroleum Exporting Countries (OPEC) has declared that the World appetite for crude oil would hit 97.72 million barrels daily starting from the next five months. The demand for its crude oil too, the cartel said in a…
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For the first time in many years, the Organisation of Petroleum Exporting Countries, OPEC, has confirmed Nigeria’s ability to cut its output from 1.7 million barrels per day, mb/d in May to 1.4mb/d in June 2020. In its July Oil Market…
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There is unease in the global oil circuit as OPEC Joint Ministerial Monitoring Committee (JMMC) warm up for a talk, today and tomorrow where lower levels for future output cuts might be proposed. Reuters reported yesterday that oil prices…
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Saudi Arabia commended Iraq for implementing almost all its pledged oil-production cuts and Nigeria told the kingdom it was committed to hitting its target, in further signs that disputes among OPEC+ members over cheating of quotas are…
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Oil edged lower ahead of an OPEC+ meeting this week at which the group may announce plans to start tapering historic production cuts even as the coronavirus surges unabated in many parts of the world. Futures in New York fell below $40…
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Call on OPEC to surge by 25% to 29.8 million barrels a dayUS production to see limited growth after this year’s loss OPEC expects demand for its crude oil to rebound sharply next year, surpassing levels seen before the coronavirus…
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Today, HRH Prince Abdulaziz Bin Salman Al Saud, Minister for Energy, had a phone discussion with HE Timipre Sylva, the Nigerian Minister of State for Petroleum Resources. Chief Timipre Sylva, Nigeria's HMoSPR The discussion between…
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The oil market is getting closer to balance as demand gradually rises, OPEC's secretary general said on Monday, two days before the group and ally Russia meet to decide whether to ease output curbs from August. The Organization of the…
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