OPEC

–By Gideon Osaka This question is more appropriate in no other time than now that the Organization of Petroleum Exporting Countries (OPEC) appears to be grappling with internal crisis and lack of cohesion among its members,…
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The relative stability in the prices of crude may have allayed fears over how the Federal Government will get the cash to fund this year’s N8.3trillion budget, it was learnt at the weekend. Prices of crude have hovered between $61.17…
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OPEC and its allies do not rule out taking further action at their next meeting in April should oil inventories build up in the first quarter, OPEC’s secretary general told Reuters. Worried by a drop in oil prices and rising supplies,…
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The strategic oil alliance led by Saudi Arabia and Russia, OPEC+, may lead to a stabilization of oil prices between $60-65 a barrel, according to a global commodities expert. Edward Morse, Global Head of Commodities Research at…
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Crude oil production from Nigeria increased the most last month among its peers in the 14-member Organisation of Petroleum Exporting Countries. OPEC, in its latest Monthly Oil Market Report for January, put Nigeria’s output at 1.797…
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For the first time in 2019, the price of oil has risen from $60.00 to $62.70 per barrel as Organisation of Petroleum Exporting Countries, OPEC, intensifies efforts to withdraw excess oil from the volatile market. Specifically, the…
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OPEC on Friday published a list of oil production cuts by its members and other major producers for the six months to June, an effort to boost confidence in the move designed to avoid a supply glut in 2019. In a statement, an OPEC and…
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Oil prices fell on Thursday as U.S. crude production neared an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $51.92 per barrel…
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Crude oil futures settled on Wednesday after the release of American Petroleum Institute data showing a draw in US crude stocks, with bearish factors generally dominating the market. Brent crude futures settled at $60.53/per barrel, while…
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Spot activity dwindled on Monday as traders awaited the new March Nigerian loading programmes that are expected to emerge this week, while India’s IOC mopped up some cargoes via a tender. BP was said to be offering a cargo of…
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