OPEC Oil Output Hits Lowest Level In 8 Years   Crude oil production by members of the Organisation of Petroleum Exporting Countries hit an eight-year low in July as a further voluntary cut by Saudi Arabia deepened losses caused by United States’ sanctions on Iran and...

OPEC May Shift Forward Oil Output Decision Till June The Organization of the Petroleum Exporting Countries (OPEC) will likely wait until June to decide how to proceed with the production cuts as the initially set date for review, April, could be too soon to assess...

DPR Urged To Conduct Bid Rounds Every Two Years To Stabilise Oil Output   The Department of Petroleum Resources (DPR) has been urged to undertake bid rounds for oil acreages in Nigeria at least once in every two years to help raise and keep production of...

Nigeria's oil production has risen to 2.1 million barrels a day, the managing director of state oil firm NNPC has said, without giving an explanation for the increase. "We are hoping that by the end of 2017 we should ramp up production to above 2.2...

Some members of the Organisation of Petroleum Exporting Countries including Saudi Arabia are looking to revive the idea of coordinated oil-output action by major producers when the group meets today in Vienna. A senior OPEC source was quoted by Reuters to have said this, but...