OPEC

With only a week to go before OPEC+ countries start flooding the world’s total oil production with an estimated extra 2.5 million barrels per day (bpd) amid the Covid-19 crisis, building one of the biggest oil supply gluts the world has…
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Nigeria will pump as much crude as it can and continue to sell it at a deep discount, but may eventually have to shut down some unprofitable fields if the price war rumbles on. Africa’s biggest producer has thrown itself into the battle…
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Oil prices extendedgains fora thirdsession yesterday rising alongside broader financial markets on the hope that Washington will soon approve a massive aid package to stem the economic impact of the coronavirus pandemic.  U.S. crude…
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Nigeria should take advantage of the oil price slump to reposition its oil and gas sector. The recent slump in crude oil price as well as the spreading coronavirus (COVID-19) pandemic have sent shock waves to managers of economies that are…
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Nigeria may soon slip out of reckoning as a profitable oil producer in the Organisation of Petroleum Exporting Countries (OPEC) if crude oil prices decline further by at least another $3. On Monday, the ravaging impact of the deadly…
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The uncertainty in the global economy has continued to increase due to the effects of the COVID-19 pandemic. The disease as well as the oil price war between Russia and Saudi Arabia, have damaged appetite for assets prices across the…
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Oil prices leapt to $30.17 per barrel adding over $3 yesterday bouncing back from days of heavy losses in a relief rally that may yet be short-lived, analysts warned, but which was stoked by economic stimulus efforts to ward off a global…
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The Organisation of Petroleum Exporting Countries (OPEC) has opened talks with representatives of the United States energy sector based in Texas in a bid to halt the galloping the fall of oil prices and find a truce between three of the…
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Crude oil traders from West Africa to the U.S. Gulf Coast are offering cargoes at deep discounts, desperately trying to attract buyers as global supplies swell and demand plunges. Oil prices have plummeted to 18-year lows as the global…
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IEA Executive Director Fatih Birol and OPEC Secretary General Mohammed Barkindo expressed “deep concerns” about the coronavirus pandemic on Monday.They singled out public sector spending in vital areas such as health care and education as…
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