Brent Crude Hits $83.99/barrel   Brent Crude at 12:50pm on Monday hit $84.50 per barrel, according to the Nigerian National Petroleum Corporation (NNPC). Its data indicated that the black gold gained $2.11 per barrel to rise at 2.56%. The surge followed a rise in demand for energy that...

OPEC+ Sticks To Output Deal As Oil Hits $81           Oil prices crossed the $80 mark following the decision by the Organization of the Petroleum Exporting Countries (OPEC) yesterday, confirming it would increase monthly overall production of oil by 400,000 barrels per day (bpd) for the...

Nigeria’s Oil Reserves Dropped By 543m Barrels – OPEC           The 2021 Annual Statistical Bulletin of the Organisation of Petroleum Exporting Countries released on Wednesday showed a drop of 543 million barrels in the crude oil reserves of Nigeria. Figures on world proven oil reserves by country...

OPEC+ Maintains 400,000bpd Monthly Oil Output Increase       The Organisation of the Petroleum Exporting Countries and its allies, on Wednesday, agreed to stick to their existing plan for gradual monthly oil production increases. OPEC and non-OPEC ministers ratified the 400,000 barrel-per-day supply hike scheduled for October after...

OPEC, Others Meet To Decide On Crude Oil Production Increase       The Organisation of the Petroleum Exporting Countries and its allies will meet on Wednesday (today) to decide whether to press on with plans to increase crude oil production by 400,000 barrels per day every month. The...

Poor Oil Investments’ll Have Adverse Impact On Nigeria, OPEC Warns       Investing poorly in the oil and gas industry will have a heavy adverse impact on Nigeria and other oil-producing developing nations, the Organisation of Petroleum Exporting Countries warned on Wednesday. OPEC observed that investment in the...