OPEC

…As Saudi Arabia sustains commitment to output cuts Oil prices have increased in the last two days thanks to Saudi Arabia’s renewed commitment to output cuts. But such gains in prices often has the negative effect of making…
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Recent drops in the supply of Shale oil from the United States and a cabinet reshuffle in Saudi Arabia has also helped Nigeria’s mono-economy create new revenue sources for the time being. Oil price graph A five-day price…
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*The Nigerian government says it is committed to the production adjustments agreed on under the Declaration of Cooperation (DoC) between member countries of the Organisation of the Petroleum Exporting Countries (OPEC) and Non-OPEC…
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-By Gideon Osaka By the time Mohammed Sanusi Barkindo completes his tenure in 2022, he would have entered the annals of the Organisation of Petroleum Exporting Countries, OPEC, as one of the longest-serving Secretaries General of the…
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OPEC in Vienna re-elects Nigeria’s Mohammed Barkindo as Secretary-General for a three-year tenure. Secretary General of OPEC Mohammed Barkindo The oil bloc also approved a nine-month extension for the global oil cut. Details later…
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kolo Kyari, has described as “way to go”, moves by the Organization of the Petroleum Exporting Countries (OPEC) to extend oil production cuts by…
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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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