OPEC

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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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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