Despite OPEC’s Output Cut Extension, Oil Drops To $62
The international oil benchmark, Brent crude, plunged to $62 per barrel on Tuesday despite a nine-month extension of production cuts by the Organisation of Petroleum Exporting Countries and its allies.
Bloomberg reported that oil had its worst...
Nigeria, Others Support 9month Oil Cut Extension
Nigeria, on Monday, expressed its support for a nine-month extension of oil production cuts by the Organisation of Petroleum Exporting Companies and other producers.
OPEC ministers met on Monday and approved in principle a nine-month rollover of its output...
OPEC To Meet Early July After Several Postponements
Major oil-producing countries meet in Vienna on July 1 and 2, the OPEC website and a delegate said Wednesday after the biannual gathering had been postponed several times.
Oil producers led by Saudi Arabia are expected to decide...
Nigeria's Oil Revenue Hits N85trn In 5Years - Report
Nigeria earned about N85 trillion, or $236.2 billion from oil between 2014 and 2018, the 54th edition of Annual Statistical Bulletin by the Organisation of Petroleum Exporting Countries (OPEC), has revealed.
The figure puts Nigeria in sixth...
OPEC Cuts Oil Demand Outlook, Highlights Challenges
The Organisation of Petroleum Exporting Countries has cut its forecast for global oil demand growth and warned of a risk of further reduction in production as international trade disputes continues to fester.
OPEC said in its monthly report published...
OPEC Seeks Adherence To Oil Output Deal
The Organisation of Petroleum Exporting Countries (OPEC) has called on its member countries as well as non-OPEC countries led by the Russian Federation to conform fully to the oil production curb agreement they reached to rebalance the global...
