Amid OPEC Cuts, Oil Price Hits $67.14
Oil prices yesterday hovered close to 2019 highs at $67.14, bolstered by OPEC-led supply cuts and US sanctions on Venezuela and Iran, but was prevented from rising further by slowing growth in the global economy.
Nigeria on Wednesday pledged...
Nigeria Records Biggest Oil Production Increase In OPEC
Crude oil production from Nigeria increased the most last month among its peers in the 14-member Organisation of Petroleum Exporting Countries.
OPEC, in its latest Monthly Oil Market Report for January, put Nigeria’s output at 1.797 million barrels...
OPEC Forecasts Lower Demand For It's Crude In 2019
The Organisation of Petroleum Exporting Countries will have to attain 100 per cent compliance with its new crude oil supply cut accord and count on continued production declines in Iran and Venezuela, if it wants to...
OPEC Meeting: Oil Price Stability Tops Nigeria, S/Arabia Agenda
The Minister of State for Petroleum Resources, Ibe Kachikwu and his counterpart from Saudi Arabia, Khalid Al-Falih, held talks yesterday on the need to present a harmonized position ahead of the Organization of Petroleum Exporting Countries’...
US, 2 Others crash oil prices
Oil prices fell on Friday as surging output by the world’s three largest producers, United States, Russia and Saudi Arabia, outweighed supply concerns from the start of U.S. sanctions next week against Iran’s petroleum exports.
Front-month Brent crude futures were...
Crude Oil Demand To Hit 100 mbpd Sooner Than Projected - Barkindo
The Secretary-General, Organisation of the Petroleum Exporting Countries (OPEC), Mohammad Barkindo, predicts that world oil consumption will reach 100 million barrels per day (bpd) later this year, hitting that level much sooner than...
