OPEC

The slump in the U.S. crude oil futures below $0 per barrel is not a reflection of the reality in the global oil market capable of impacting Nigeria's oil production, the Group Managing Director of the Nigerian National Petroleum…
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Some OPEC ministers had a conference call on Tuesday to discuss the oil price rout and possible extra measures to support the market but it took place without the core Gulf nations, highlighting a growing split inside the organisation. …
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New wells don’t lose pressure when valves are closed: AMLOMexico’s spot price for Maya crude was negative on Monday With crude prices collapsing, Mexico’s president says his country will shut down new wells in a move that comes just…
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Oil prices on Monday crashed to record low as oil producers ran out of space in their storage facilities leaving US oil prices with an unprecedented fall from $18 a barrel to -$38 in a matter of hours. The historic market collapse has…
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The US crude, also known as West Texas Intermediate(WTI), traded for below $0 following the impact of the coronavirus on the global oil market. This is however the first time in the history of US crude trading , that WTI is…
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Oil plunged below $15 a barrel in New York, a fresh 21-year low, as inventories soar because of the supply-demand mismatch that’s been created by the coronavirus. The most immediate West Texas Intermediate contract fell as much as…
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The physical oil market, where millions of barrels of real cargoes are traded each day, needed OPEC+’s historic cuts to global crude production months ago. On Sunday, producer nations pledged to limit output by an unprecedented 10% of…
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Facing a steep drop in oil demand with much of the world staying home to practice social distancing, more than 55 energy executives, analysts and critics appeared one after another Tuesday at a video meeting of the Texas agency that…
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The Group Managing Director of Nigerian National Petroleum Corporation, (NNPC), Mele Kyari has explained that Federal Government’s support for private refinery initiatives is part of the strategies to return Nigeria to being a net exporter…
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*The 10th (Extraordinary) OPEC and non-OPEC Ministerial Meeting was held via videoconference, on Sunday, 12 April 2020, under the Chairmanship of HRH Prince Abdul Aziz Bin Salman, Saudi Arabia’s Minister of Energy, and co-Chair HE…
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