OPEC

Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mele Kyari, has debunked reports that Nigeria has shut in its oil production as a result of the current market situation. He made the clarification in an…
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The United States cut its imports of Nigerian unrefined petroleum by 60.37 percent to 1.93 million barrels in January this year, contrasted with the 4.87 million barrels purchased around the same time in 2019.  Most recent information…
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Nigerian crude differentials showed more signs of recovery from record lows on Thursday, reflecting a wider rebound in the market on hopes of stronger demand, according to a market report from Reuters. Qua Iboe was on offer at dated…
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*US crude futures jump 15 per cent. US oil prices jumped on Wednesday, trimming some of this week's losses, after US stockpiles rose less than expected and on expectations demand will increase as some European countries and US cities…
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Oil prices are set to recover with the OPEC+ production cuts and gradual lifting of lockdowns around the world in the second half of 2020, when oil prices “will be $40 starting from the third quarter,” Mohamed Arkab, Energy Minister of…
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The slump in crude oil prices in the global market has fuelled the need for Nigeria to stop crude oil exports and feed local refineries to boost the exports of refined products and supplies of fuel to industries, it was learnt. …
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Oil prices climbed sharply in Asia on Thursday, escalating tensions between Iran and the United States overshadowing the drying up of demand for coronavirus and the saturation of storage facilities. Around 6:25 GMT, a barrel of “light…
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Here’s an easy fix to the ultra-low oil price; do what Iran has been promising to do for decades, block the Straits of Hormuz Suggested partly as dark humor there would be a delicious irony in delivering to Iran precisely what it has…
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The Nigeria National Petroleum Corporation (NNPC) said it would continue oil production despite the fall in price. The explanation came on the heels of the speculation that Nigeria had halted the production of the commodity which prices…
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Nigeria: OPEC - Oil Prices Lost Two-Third of Value in First Quarter of 2020 The Organisation of Petroleum Exporting Countries (OPEC) has disclosed that up to two-third of the value of oil prices were wiped out by the novel Covid-19 in…
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