OPEC

Nigeria’s crude oil export fell by 1.6 million barrels in May, representing a 6.8 per cent decline from data for April export, according to figures obtained from the Central Bank of Nigeria (CBN). The CBN, in its economic report for…
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Nigeria increased its official selling price (OSP) for major crude grades on perked-up demand, especially in Northwest Europe, as preliminary loading programmes for August were expected shortly. NIGERIA * Nigeria’s NNPC on Thursday…
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Oil prices extended gains Monday as rising US-Iran tensions fuelled supply concerns, while Asian equities also edged up ahead of a crunch meeting between Donald Trump and Xi Jinping this week. Both main crude contracts are up almost 10…
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OPEC and its allies have fixed the date of their upcoming meetings in Vienna for July 1-2, ending a protracted scheduling spat that the organization’s president had said was keeping the oil market on edge. OPEC announced the change…
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Organisation of the Petroleum Exporting Countries (OPEC), has reacted to the appointment of new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kolo Kyari. Hus new appointment takes effect from 7 July. …
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Oil prices rose by more than 1% on Thursday, recovering from a near five-month low in the previous session but sentiment stayed weak due to rising U.S. supply and a stalling global economy. Benchmark Brent crude was at $61.30 a barrel…
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...As Bonny light price falls to $67.28 in May The nation’s excess oil revenue dropped from $13.59 per barrel to $7.28 per barrel, following increased instability in the global oil market between the first and last week of May, 2019. …
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Crude oil, cash cow for Nigeria, yesterday sold at $67.27 a barrel. Two of the crude grades Brent and WTI recorded $8.59 per barrel price differentials before the end of transactions at the global market. While WTI was trading at $58.68…
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There is increasing global competition on Nigerian crude oil due to the rise of new production centers across the globe particularly in Africa, and Argentina, Dr. Maikanti Baru, the Group Managing Director of the Nigerian National…
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…Reports 168% conformity rate to cuts in April Following the 14th meeting of its Joint Ministerial Monitoring Committee, JMMC, on Sunday in Jeddah, Saudi Arabia, the Organization of the Petroleum Exporting Countries, OPEC, reaffirmed…
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