OPEC

If oil disappeared tomorrow, there would be no more jet fuel, gasoline or diesel. Internal combustion engine automobiles, buses, trucks, lorries and coaches would be stranded. Airplanes powered by jet fuel would be grounded. Freight…
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The Organisation of Petroleum Countries (OPEC) of which Nigeria is a member, has said that its daily basket price of oil price stood at $89.64 A Barrel as at last Wednesday. The price of OPEC basket of twelve crudes stood at $89.64…
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– The Joint Ministerial Monitoring Committee of OPEC+ has confirmed the oil group’s current production targets, pushing back against increasing calls for a reversal of output cuts on the back of Brent hitting $90 per barrel. –…
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Oil prices settled lower on Tuesday as the market weighed the loss of Russian refinery capacity after recent Ukrainian attacks, with Brent crude losing 50 cents to trade at $86.25 a barrel, while the US West Texas Intermediate (WTI)…
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Global oil demand will grow by 2.2 million barrels per day, in 2024, the Organization of the Petroleum Exporting Countries forecast in its monthly report Wednesday, unchanged from its previous projection. Growth in 2025 is seen at 1.8…
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Prices of crude oil climbed by about 3 per cent on Thursday, spurred by fresh tension after Iran seized an oil tanker off the coast of Oman, raising the prospect of escalating conflict in the Middle East. Brent futures rose by $2.23…
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According to a Bloomberg survey, crude oil production by the Organisation of Petroleum Exporting Countries (OPEC) remained stable last month. Ship-tracking data, official information, and estimates from consultants, including Kpler…
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Organisation of Petroleum Exporting Countries (OPEC) nations Iraq, Nigeria and the Republic of Congo affirmed their commitment to the oil-producer group following the exit of Angola last week. Congo’s Minister of Hydrocarbons, Bruno…
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Nigeria And Angola are currently holding high level talks with the Organization of Petroleum Exporting Countries, OPEC, pleading for higher oil output slot. Some OPEC officials told Reuters on Thursday, that the two countries are…
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Oil prices recorded more loss on Thursday, after the Organisation of Petroleum  Exporting Countries (OPEC) announced the shock delay of a key policy meeting, suggesting fresh upheaval in the bloc, while equities were mixed after two US…
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