OPEC

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…
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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…
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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…
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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…
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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…
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...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…
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Saudi Arabia called out the cheats at yesterday’s OPEC meeting — the countries that hadn’t fully reduced oil output in May as agreed — and extracted promises that they would compensate with even deeper reductions in the third quarter. Now…
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The Federal government has restated its commitment to the April 2020 Oil Production cut agreement by OPEC+ Members. Timipre Sylva,the Minister of State for Petroleum Resources who stated Federal government’s position said Oil producing…
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The 179th Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held via videoconference, on 06 June 2020, under the Chairmanship of its President, HE Mohamed Arkab, Minister of Energy of…
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The 11th OPEC and non-OPEC Ministerial Meeting was held via videoconference, on Saturday, 06 June 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE Alexander Novak,…
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