OPEC

Country has agreed to make up for previous flouting of quotaNNPC cutting output deeper than needed in past 10 days Mallam Mele Kolo Kyari, Group Managing Director of Nigerian National Petroleum Corporation (NNPC), says the OPEC+…
Read More...

*Several factors contribute to this in the coming months, the most important of which is the recovery in demand with the opening of global economies The "OPEC" and "OPEC +" countries met last Saturday and approved the extension of…
Read More...

*OPEC production cuts matter far less than international companies deciding to scale back production and capex Uncertainty often surrounds how Nigeria plans to implement crude production cuts after it has agreed them with Opec. But,…
Read More...

*Forced oil production shutdowns and the extension of the OPEC+ cuts into July will balance COVID-19-hit global crude and condensate demand and create a monthly deficit starting from June and continuing until at least the end of 2021 …
Read More...

The Organisation of Petroleum Exporting Countries (OPEC) and its allies, OPEC+, has said it expects global oil demand to contract by around nine million barrels per day (b/d) for the whole of 2020. At a ministerial meeting of members…
Read More...

Oil prices climbed on Monday after OPEC+ agreed to extend a deal on record output cuts to the end of July and as China’s crude imports hit an all-time high in May. Brent crude was up 51 cents, or 1.2 per cent, at $42.81 per barrel, by…
Read More...

French oil and gas firm, Total’s Egina will bear the largest burden of cuts as Nigeria races to achieve full compliance with the new OPEC+ cuts deal, SweetcrudeReports has learnt. The new field, Egina will shoulder around 40 percent…
Read More...

Nigeria will continue collaborating with other OPEC+ Nations in the historic efforts to adjust crude oil production towards rebalancing and stabilizing the global crude oil market for the benefit of all. This was contained in a release…
Read More...

On Saturday, Mexico refused to extend oil production cuts until the end of July, agreed by OPEC members and other major producers yesterday (OPEC +). On Saturday , OPEC + agreed to extend the historical production…
Read More...

...cuts oil production to 510-520m tons in 2020 Russian Energy Minister Alexander Novak said that the global oil market is still fragile and it is important that all OPEC members and non-members fully adhere to the agreement to reduce…
Read More...