OPEC

The Oil Age has powered the world for well over a century. There have been two general schools of thought about how it will ultimately end. There were those who believed that oil production would peak and begin to decline in the face of…
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On Easter Sunday, April 12th, 2020, Nigeria joined its other OPEC+ counterparts to bring into effect the agreement to cut 9.7 Million Barrels of supply following the alignment of Mexico. Nigeria's Minister of State for Petroleum…
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…After Mexico refuses to yield output cuts On Thursday, Riyadh, Moscow and other OPEC+ members and partners tentatively agreed to cut crude output by some 10 million barrels per day (bpd) over the next two months, with the deal…
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The Organisation of Petroleum Exporting Countries, OPEC says, the Coronavirus Disease Pandemic has compelled it to assess and reassess the consequences in the Oil Market on an almost daily basis to find solutions to help all people of…
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*Leonid Fedun admits that the deal with OPEC had negative aspectsct Lukoil has hailed the results of the oil production cuts deal between OPEC+ and a number of other nations, the company’s vice -president and co-owner, Leonid Fedun,…
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•Expects $15 per barrel price rebound, cuts output to 1.4mbd Nigeria says it expects to gain about $2.8 billion from its sale of crude oil in the coming months if the weakened prices of the commodity gain an additional $15 per barrel…
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The Group of 20 plans to create an ad hoc group to ensure that steps to stabilize oil markets expected to be agreed on Thursday and Friday are implemented, according to a draft of the communique circulated to member countries. The body…
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The African Petroleum Producers' Organization (APPO) has followed with keen interest, the Meeting of the OPEC+ or Declaration of Cooperation Partners which held on Thursday, 9th April, 2020 and the Meeting of the G20 Energy Ministers which…
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The G-20 energy ministers have failed to agree on a cut in oil production, a statement released after long negotiations on Saturday said no cuts. Talks dragged on Friday to try to reach an agreement on a massive drop in oil production,…
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For the oil producing countries in OPEC and also OPEC+, a high price for crude is absolutely essential in order to keep their economies buoyant in this time of coronavirus crisis. Finally it looks as if two of the largest producers…
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