OPEC

Oil edged up towards $73 a barrel on Friday, heading for a weekly gain, supported by supply cuts and concern over potential further disruption to Middle East shipments as political tensions rise. U.S. sanctions on Iran have cut the…
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Offer prices for West African grades remained high but have not ramped up significantly despite tightened U.S. sanctions on Iranian oil, which will leave top buyers India and China looking for replacement barrels. Shell confirmed that…
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The Organisation of Petroleum Exporting Countries, OPEC’s April supply dropped to 30.23 million barrels per day (bpd) showing a four-year low. This came as OPEC’s biggest production gain occurred in Nigeria, where Total’s Egina field…
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The United States refineries have upped their imports of Iraqi, Nigerian, Brazilian, and Angolan crude oil, with May volumes, double that of April levels, data from Refinitiv Eikon has shown.Oil imports from Nigeria and other…
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US refineries have upped their imports of Iraqi, Nigerian, Brazilian, and Angolan crude oil, with May volumes double that of April levels, data from Refinitiv Eikon showed on Monday. Oil imports from these countries to the United States…
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Uncertainties are about unsettling global oil market fundamentals which though currently looking particularly bullish. Events that are threatening the market included the Organization of Petroleum Exporting Countries (OPEC) production…
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OPEC tries to depoliticize oil, the producer group’s secretary-general was quoted by the Iranian oil ministry as saying on Thursday, following accusations by Iran that the United States is using oil as a weapon against Tehran. The…
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Nigeria’s crude production may rise further by additional 160,000 barrels per day (bpd) with the completion of Pan Ocean Oil Corporation Nigeria Limited’s three oil and gas infrastructure. Although Federal Government key assumptions and…
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The Nigerian National Petroleum Corporation (NNPC) has said that Nigeria’s effort to reduce debt owed to its foreign oil partners is progressing well and helping the country to bolster exploration and production. NNPC’s Group Managing…
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Goldman Sachs has adjusted its second quarter (Q2) 2019 Brent oil price forecast upwards by 11.5 per cent from $65/barrel to $72.50/b to reflect stronger assumptions on OPEC output cuts, further tightening of U.S. oil sanctions on…
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