OPEC

Brent crude fell below $60 last Friday, triggering in some quarters that Nigeria’s 2020 budget may be in some threat. The budget was prepared with the oil benchmark of $60 per barrel. A report last week by Business Post said…
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Crude oil prices deteriorated sharply over the week, with Brent crude falling to $60.69 per barrel, the lowest in nearly two months. WTI dropped to $54.19 per barrel the lowest since October 2019. Pessimism seems to be back after fears…
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Timipre Sylva, Nigeria’s Minister of State for Petroleum Resources, has said if oil prices remain within the $60 and $70 per barrel, it will be good for the country’s fiscal planning and budget implementation in the current year. Sylva,…
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A rise in oil demand growth this year will be offset by a sharper increase in non-OPEC supply, OPEC said in its monthly oil market report published yesterday, even as Nigeria’s crude production last month, aligned with its quota of 1.77…
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There is a major false belief about the oil industry that's held by most of the public and only serves to get you to buy crude over a longer period. That belief: Oil companies and organizations like OPEC want crude prices to be…
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The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), His Excellency, Mohammed Sanusi Barkindo, is participating in the International Petroleum Technology Conference (IPTC) 2020, which is taking place for the…
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Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, weekend, disclosed that Nigeria grew its crude oil output 2.2 million barrels per day in December. This was in disregard to the deal…
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Buhari who doubles as the country’s Minister of Petroleum Resources met with Sylva at about 3pm to 3.41pm at the Presidential Villa, Abuja. President Muhammadu Buhari President Muhammadu BuhariNigeria’s President, Muhammadu Buhari,…
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Oil prices rose a further two per cent on Monday, pushing Brent above $70 a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike which killed a top Iranian military commander.…
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OPEC oil output fell in December as Nigeria and Iraq adhered more closely to pledged reductions and top exporter Saudi Arabia made further cuts ahead of a new production-limiting accord, a Reuters survey found. On average, the 14-member…
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