OPEC

Saudi Arabia is flooding markets with oil at prices as low as $25 per barrel, specifically targeting big refiners of Russian oil in Europe and Asia, in an escalation of its fight with Moscow for market share, five trading sources said on…
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Nigeria’s number one crude grade, Bonny Light currently battles for market share at the international market, according to traders. Reports say the grade is facing a decline in demand, adding that Azeri Light, a grade produced by…
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Oil prices jumped almost four percent in Asian afternoon trade Friday, reversing earlier losses sparked by the Saudi-Russia price war and fears about the economic impact of the coronavirus pandemic. West Texas Intermediate was up 3.9…
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Global oil demand will all but stall this year as the coronavirus outbreak is expected to hit economies in various regions, Organisation of the Petroleum Exporting Countries (OPEC) says. Demand will only inch up by 60,000 barrels per…
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•House checks impact on the economy •We have no solution to crude oil theft, says NNPC Crude oil price moved by around eight per cent yesterday, a day after the biggest rout in nearly 30 years as investors eyed the possibility of…
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OPEC and non-OPEC states might need to meet again to reconsider production cuts, Nigeria’s oil minister said on Monday, expressing frustration with the collapse in oil prices after Saudi Arabia and Russia embarked on a battle for market…
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After what happened with oil prices on Monday, there was only one direction they could go, and that's up. That's exactly what happened, as prices bounced back this morning. West Texas Intermediate crude for April delivery CL.1, +2.57%…
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Minister of state for petroleum resources, Timipre Sylva, has said that the Organization of Petroleum Exporting Countries OPEC and non-OPEC states might need to meet again to reconsider production cuts. Sylva who spoke on Monday,…
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The international oil benchmark, Brent crude, which stood at $45.72 per barrel on Sunday, has slumped to $33 per barrel. Oil prices suffered an historic collapse overnight after Saudi Arabia shocked the market by launching a price war…
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•NCDC moves to test suspected cases As Coronavirus (COVID-19) maintains its spread to more countries, forcing lower demand for crude oil and attendant push for production cuts to stabilise prices by the Organisation of Petroleum…
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