OPEC

The Government of Nigeria wishes to assure the Nigerian and international communities that it is watching developments in the oil and gas industry with keen interest. A statement signed by the Honourbale Minister of State for petroleum…
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Nigeria’s Bonny Light and other light sweet crude oil grades across the world are facing challenges in the international market as they are no longer appealing to buyers. According to findings, while all other crude oil types are also…
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Leading world crude exporter Saudi Arabia on Thursday made a surprise call for a meeting of the OPEC+ oil producers to "stabilize the oil market" amid a price war. "The kingdom calls for an urgent meeting of OPEC+ and a group of other…
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...Saudi/Russia may cut production, end price war    ...Saudi calls emergency OPEC+ meeting Oil prices jumped on Thursday after United States President Donald Trump said he expected Saudi Arabia and Russia would agree to capping oil…
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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…
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The Organization of the Petroleum Exporting Countries' (OPEC) daily basket oil price dropped to $16.87 on April 1st from $22.61 the previous day, Reuters reported on Thursday. According to Reuters, the basket includes Algeria's…
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The international oil benchmark, Brent crude, plunged to its cheapest in 18 years on Monday as it traded around $22 per barrel. This comes amid growing fears that the global coronavirus shutdown could last months and demand for fuel…
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It has been warned since January that the long-term ramifications of the ongoing coronavirus (COVID-19) outbreak on the oil industry could be significant and long-lasting. In March we saw significant impacts on price and demand. What…
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* African oil states lack cash to weather price shock * Saudi/Russia fight costs producers money, market share * Delayed spending may cost 200,000 bpd of output -Rystad Collapsing oil prices have left African producers facing not…
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African governments set to see decline in revenues; Exploration projects put on hold; Thousands of local jobs at risk if nothing is done. While the short-term effects of Covid-19 on world economies are already being felt and put…
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