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...
Oil: OPEC Production Climbs As Saudi Arabia Pumps More
Crude oil production from the Organisation of Petroleum Exporting Countries increased last month as Saudi Arabia pumped near-record volumes to make good on a pledge to consumers that demand would be met.
The kingdom’s oil production grew...
OPEC July Oil Output Rises, Hits 2018 Peak
OPEC oil output has risen this month to a 2018 high as Gulf members pumped more after a deal to ease supply curbs and Congo Republic joined the group, a Reuters survey found, although losses from Iran...
Meeting Global Oil Demand Requires $10.3tr investment– OPEC
The Oil-Producing Exporting Countries (OPEC) yesterday disclosed that a whopping $10.3 trillion investment would be required to meet the 15 million barrels per day (mb/d) projected increase in global oil demand from 94.5 mb/d in 2016...
Nigeria Opposes Increase in Crude Oil Supply
Minister of state for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, said Nigeria would advise against additional oil supply to the global market by OPEC and non-OPEC members.
Kachikwu made the country’s position known in an interview with journalists on...
US Oil Floods Europe Hurting Nigeria’s Exports
US oil producers are reaping the benefits of OPEC’s efforts to balance the crude market by flooding Europe with a record amount of crude, hurting traditional suppliers such as Nigeria.
Russia paired with the Organization of the Petroleum Exporting...
