OPEC

1. United States Production: 17,886,000 bpd Number one on this list of the top 10 oil-producing countries is the US. It produced the most oil in 2018, with output increasing from 15,647,000 bpd in 2017 to 17,886,000 bpd in 2018. …
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…As Iraq remains the ‘bad boy’ of the cartel Organization of Petroleum Exporting Countries, (OPEC) has resolved to exercise critical compliance control on members after it came up with a resolution on Friday to deepen production cut by…
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-By Kenny Folarin The Organization of Petroleum Exporting Countries (OPEC) and its allies led by Russia, yesterday in Vienna, agreed on additional output cuts of 500,000bpd. It is said to be one of the deepest output cuts this…
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His Excellency Manuel Salvador Quevedo Fernandez, Venezuela’s People’s Minister of Petroleum and President of the OPEC Conference 2019, welcomed Nigeria’s Minister of State for Petroleum Resources, Chief Timipre Sylva and the Saudi Energy…
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-By Kenny Folarin The Organization of Petroleum Exporting Countries (OPEC) is meeting in Vienna on Thursday to, among others, review oil cut agreements and deal with developments in the global volatile market. The global oil…
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The Secretary General of the Organization of Petroleum Exporting Countries, OPEC, Mohammed Barkindo has stated that oil market outlook for next year may have upside potential, appearing to downplay any need to cut output more deeply. …
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Nigeria’s Minister of Finance, Budget and National Planning, Mrs Zainab Ahmed, has explained that the 2020 national budget estimate was based on $57 per barrel in order to contain the price shocks from expected oil glut of 2020. The…
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The Group Managing Director (GMD) of Nigerian National Petroleum Corporation (NNPC), yesterday disclosed that, Nigeria has attained 2.8 million barrel per day, despite the spate of oil theft ravaging the industry. Kyari who disclosed…
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*The Federal Government has said that a target of three million barrels per day of oil production has been set and steps are being taken to realise it before the end of 2023. This is according to the Group Managing Director of the…
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Oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the…
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