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…
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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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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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