OPEC’s January Crude Oil Production Rises         The Organisation of Petroleum Exporting Countries (OPEC’s) crude oil production increased by 160,000 barrels per day (bpd) in January as the non-member countries called OPEC+ alliance is easing the output cuts in the first month of the year, it...

Oil Demand Risks Decline In Q1, 2021       The production policies of the non-member countries of the Organisation of Petroleum Exporting Countries (OPEC+) and pandemic’s path will continue to drive global oil prices in the year and result in global oil demand declining marginally in the...

Nigeria’s Daily Oil Production Dips to 1.17m Barrels         Crude oil production in Nigeria tumbled by 155,000 barrels to a record low in December amid the production cuts by the Organisation of the Petroleum Exporting Countries and its allies. OPEC disclosed this on Thursday in its report...

OPEC, Russia Deal Raises Hope For Crude Oil         A fresh hope for oil producing countries such as Nigeria, and Algeria was raised at the weekend as oil prices hit the highest level since early March after major producers agreed to a cautious increase in output...

NNPC Targets 3million bpd Oil Production       The Nigerian National Petroleum Corporation, NNPC, said it targets to achieve 3million barrels per day, bpd, oil production in no distant time. The Group Managing Director, NNPC, Mele Kyari stated this at a media parley organised for Energy Editors at...

Nigeria’s Sept Oil Production Dropped By 1.74m Barrels – OPEC         Crude oil production in Nigeria dropped by 1.74 million barrels in September, figures from the just released oil market report of the Organisation of Petroleum Exporting Countries showed. In the OPEC report, dated October 13, the...