OPEC

*Brent up further as Saudi Arabia, Russia likely to extend 9.7million b/d quota Petroligica's free weekly round-up of the latest news in the oil market is as shown below: Brent has pushed up a little further this week, currently…
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Oil prices jumped today, Friday, as traders awaited the indicators of the OPEC + meeting, which was confirmed tomorrow, Saturday, where major oil producers will discuss whether to extend record production cuts. Brent crude futures rose…
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Oil prices jump and Brent heads to 14% weekly gain The Russian Energy Ministry announced today, Friday, that the "OPEC +" meeting will be held tomorrow, Saturday, the 6th of June. "I confirm this," the official spokeswoman for the…
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The Honourable Minister of State for Petroleum Resources, Chief Timipre Sylva, has cleared the air on media reports that Nigeria is yet to comply with OPEC+ Production Cut. According to the statement made known to Oil and Gas Republic,…
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OPEC+ has tentative deal with Iraq on compliance with quotasAlliance to hold ministerial meeting on June 6 OPEC+ is set to extend production cuts to prop up the oil market after a breakthrough in high-stakes negotiations, and the…
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The Opec-plus alliance’s decision in April to cut production by a record 9.7 million barrels per day in the face of massive demand destruction has proved a relative success. Oil prices topped $40 per barrel this week, for the first…
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Oil markets headed lower Thursday, on concerns record production cuts will be scaled back amid disagreements within OPEC over output reduction compliance. At 8:40 AM ET (1240 GMT), U.S. crude futures traded 1.4% lower at $36.77 a…
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Organization of Petroleum Exporting Countries, OPEC, leader, Saudi Arabia and non OPEC Russia have agreed a preliminary deal to extend existing record oil output cuts by one month while raising pressure on countries with poor compliance to…
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Some traders hoped a couple of Indian oil tenders could mop up oil to reduce a significant glut of Nigerian oil while European demand for West African grades remains nearly nil amid sluggish refining activity. India’s IOC has two buy…
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*Remark at today's 133rd ECB videoconference In December 2019, Member-Countries – together with partners in the ‘Declaration of Cooperation’ – proactively adjusted production by 500,000 b/d to a then-record 1.7 mb/d, Muhammad Sanusi…
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