OPEC

A global recession is a possibility but it will hardly have a serious effect on the economy, Saudi Arabia’s top oil man, Khalid al-Falih, said at the Future Sustainability Summit taking place this week in Abu Dhabi. "A lot of…
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Nigeria recorded crude oil export worth N11.5 trillion in nine months, from January to September 2018, rising by 48.01 per cent from N7.77 trillion recorded in similar period in 2017. The value of crude oil export in the nine-month…
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Oil prices appreciated yesterday with support of ongoing supply cuts from Organisation of Petroleum Exporting Countries (OPEC) and Russia and by a drop in U.S. drilling activity. International Brent crude oil futures were at $60.75 per…
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THE oil price rebound, yesterday, reached a significant point, selling at $60 per barrel, as the Organisation of Petroleum Exporting Countries, OPEC, continue to withdraw excess oil from the international market. Prices of Brent, West…
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Oil rallied today (Wednesday) on continued optimism over U.S.-China trade talks and industry data pointing to a fall in domestic inventories, pushing U.S. futures back above $50 a barrel for the first time since mid-December. West Texas…
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Crude oil prices climbed for a fifth session in a row to hit $58 yesterday, rallying from last December 2018’s 18-month low, thanks to the production cuts by the Organisation of Petroleum Exporting Countries (OPEC) and more stable equity…
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Oil prices rose by more than 1.5 per cent on Monday on hopes that talks in Beijing can resolve a trade war between the United States and China, while supply cuts by major producers also supported crude. Brent crude futures LCOc1 were at…
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OPEC oil supply fell in December by the largest amount in almost two years, a Reuters survey found, as top exporter Saudi Arabia made an early start to a supply-limiting accord while Iran and Libya posted involuntary declines. The…
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The Organisation of Petroleum Exporting Countries (OPEC) formed in 1960 had the mandate of coordinating and unifying the petroleum policies of its member countries and to ensure the stabilisation of oil markets in order to secure an…
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Oil prices will continue to be under pressure in 2019, but they won’t collapse, as was the case back in 2016. The world’s major suppliers, Russia, Saudi Arabia, and China will continue to pump more oil into the market, as a slow-down in…
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