OPEC

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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Oil prices appreciated as much as one per cent yesterday after Saudi Energy Minister Khalid al-Falih indicated there was consensus among OPEC and allied oil producers to continue limiting supplies. Also, Nigeria’s oil minister said he…
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Saudi Arabia and other key producers in OPEC signaled their intention to keep oil supplies constrained for the rest of the year, while pledging to prevent any genuine shortages. It was less clear how far Russia, their main partner in…
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The specter of war and risks to global oil supply security will hang over a key OPEC/non-OPEC monitoring committee this weekend, as ministers gather in Saudi Arabia to debate how much oil to pump in the months ahead. Many analysts —…
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*Will cartel’s compliance committee hint at possible policy news from June meeting? Oil futures finished lower Friday, with U.S. prices down for the first time in four sessions, but up for the week, as any potential demand worries tied…
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