OPEC

OPEC Secretary General Mohammad Barkindo said on Sunday that compliance with a supply cut agreement between OPEC and non-OPEC members was improving, and that this would help the oil market to weather through the build up of oil…
Read More...

Saudi Arabia’s Energy Minister, Khalid Al-Falih, has said that member countries of the Organisation of Petroleum Exporting Countries (OPEC) and its allies led by Russia still have a lot of work to do to balance global oil markets, and are…
Read More...

The news broke last week through a memo signed by the Chief of Staff to the President, Abba Kyari, on behalf of the Presidency directing that the Nigeria National Petroleum Corporation (NNPC) take over the Oil Mining Lease (OML) 11 from…
Read More...

OPEC’s secretariat urged oil producers to keep going with efforts to prevent a surplus this year, as supplies from their rivals increase faster than world demand. Key OPEC members and their allies will meet this weekend in Baku,…
Read More...

The price of Bonny Light, Nigeria’s premium oil grade has risen from $66.00 to $67.48 per barrel, the highest in recent times, as the Organisation of Petroleum Exporting Countries, OPEC; continue to eliminate excess oil from the global…
Read More...

OPEC members are increasingly concerned about the passage of anti-OPEC legislation in the US while President Donald Trump’s oil price-focused tweets have added new uncertainties to the market, Mohammad Barkindo, OPEC’s secretary general,…
Read More...

The price of Bonny Light, Nigeria’s premium oil grade has risen from $66.00 to $67.48 per barrel, the highest in recent times, as the Organisation of Petroleum Exporting Countries, OPEC; continue to eliminate excess oil from the global…
Read More...

U.S. shale companies have benefited from the supply-cut efforts from OPEC and its allies that boosted prices, OPEC Secretary General Mohammed Barkindo said during a Houston energy conference on Monday. His comments came ahead of an OPEC…
Read More...

Nigeria, Africa’s biggest crude exporter, slashed a total of 1.484 million barrels of crude in the 28 days of February, a Federal Government statement says. It maintained that this production slash was achieved through 53,000 barrels…
Read More...

Increased production by Nigeria and Iraq above the agreed quota by members of the Organisation of the Petroleum Exporting Countries (OPEC), in February, saw compliance level hitting 79 per cent last month, three per cent above…
Read More...