OPEC

•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…
Read More...

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…
Read More...

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%…
Read More...

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,…
Read More...

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…
Read More...

•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…
Read More...

Russia’s refusal to budge shocked markets and ministers alikeSaudi prince warned other ministers they would regret decision At 10:16 a.m. on a wet and dreary Friday morning, Russia’s energy minister walked into OPEC’s headquarters in…
Read More...

Oil futures fell by more than 7% on Friday as talks between the Organisation of the Petroleum Exporting Countries and their allies collapsed, with Russia refusing to agree to a Saudi-led plan for additional crude production cuts, even as…
Read More...

US oil prices ended down more than 10 percent Friday after a proposed deal among petroleum producers to cut output fell apart, raising fears of a glut as the coronavirus outbreak saps demand. The US benchmark futures contract, West…
Read More...

Honourable Minister of State for Petroleum Resiurces, Timipre Sylva has been busy trying to help reach a consensus on oil cut at the ongoing OPEC meetings as well as to promote energy relations. He has so far met privately with several…
Read More...