OPEC

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…
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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…
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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…
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Being a speech delivered by HE Mohamed Arkab, Algeria’s Minister of Energy and President of the OPEC Conference 2020, at the 178th (Extraordinary) Meeting of the OPEC Conference, 5 March 2020, Vienna, Austria Excellencies, distinguished…
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A potential large collective production cut by members of OPEC and OPEC+ in response to the slump in demand with the Coronavirus outbreak is expected to drive oil prices upward, as Brent hits $52.46 per barrel yesterday. Organisation of…
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Ministers from the Organization of Petroleum Exporting Countries, OPEC, are beginning to arrive to Vienna on Tuesday as the group debates whether to further reduce oil production to tackle deteriorating demand from the global spread of the…
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Nigeria and other members of the Organisation of Petroleum Exporting Countries will gather this week to debate whether to cut oil production further as the spread of coronavirus hits demand for crude worldwide. Reuters reported on…
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OPEC’s crude oil production fell to the lowest in more than ten years last month as a number of producers cut more deeply than they had agreed to and Libya’s output continues to fall amid the oil port blockade, a Reuters survey has shown. …
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Agency Reports A Reuters poll has indicated a slowdown in global demand for crude oil in 2020 as a result of continuous spread of the Coronavirus, which in turn will cast a shadow over OPEC’s effort to cut output and shove up prices. …
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OPEC for now is planning to hold its ministerial meeting as scheduled this week, pending a final decision Monday with a teleconference under consideration, sources told S&P Global Platts. “At the moment, we are proceeding with our…
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