Oil Price Rises Above $57, Highest In 12 Months         The international oil benchmark, Brent crude, rose more than two per cent on Tuesday, hitting a 12-month high after major crude producers showed they were reining in output roughly in line with their commitments. Brent crude, against...

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, Gas To Meet Over 50% Global Needs By 2045 — OPEC       The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammad Barkindo, has said the oil and gas sector will still supply over 50 per cent of the global energy needs...

Oil’ll Retain Largest Share In Global Energy Mix – OPEC       The demand for crude oil is projected to increase by about nine million barrels per day in future, as oil will continue to retain its largest share in the global energy mix, the Organisation of...

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 Nine-month Oil Export Earnings Drop By $1.24bn         The total revenue generated by Nigeria from crude oil and gas exports from January to September 2020 tumbled by $1.24bn, compared to the same period in 2019. An analysis of data obtained from the Nigerian National Petroleum Corporation...