OPEC

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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The Organization of Petroleum Exporting Countries, OPEC and its partners have called for close monitoring of the oil cuts by the Joint Technical Committee, JTC. In a statement at the end of its 20th virtual meeting of the Joint…
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The Organisation of Petroleum Exporting Countries (OPEC) and allies made real their promise to taper record supply curbs from August after its meeting, as oil prices eased on Thursday, but Reuters said the drop was cushioned by hopes for a…
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OPEC may have to play its market-rebalancing act longer than initially intended as it is afraid that a second coronavirus wave would slow oil demand recovery, Reuters reported on Thursday, quoting internal OPEC research it had seen. …
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Brent crude fell 27 cents, or 0.6 per cent, to $43.52 a barrel by 0439 GMT, and U.S. West Texas Intermediate (WTI) crude dropped 32 cents, or 0.8 per cent, to $40.88 a barrel. They rose two per cent the previous day, helped by the U.S.…
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The Joint Ministerial Monitoring Committee (JMMC) of the Organization of Petroleum Exporting Countries (OPEC) and its non-OPEC allies, jointly called OPEC+, Thursday, disclosed that conformity to the production cut deal by participating…
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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…
Read More...