OPEC

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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Due to recent development in the oil sector, Nigeria is projected to lose about 226,300,000 million barrels of oil production in 2019. This accounts for about 27 per cent of its current year’s target. The loss is sequel to the…
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In the week ahead, oil traders will continue to monitor developments in U.S.-China trade talks while supply levels will also continue to capture market attention after signs of falling supply last week supported prices. The Organization…
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Many articles have been written this past year about the impending demise of OPEC. Shale oil, it has been argued, has ended the cartel’s stranglehold on oil prices. There’s some truth to that argument, but it also understates OPEC’s…
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