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OPEC Seeks Oil Recovery, Continues Production Cut Talks

OPEC Seeks Oil Recovery, Continues Production Cut Talks       The Organisation of the Petroleum Exporting Countries will, on Tuesday, continue its discussion on the extension oil production cuts as it set its sights on “oil market stability in the interest of producers, consumers and the global...

Oil Rises To $38 As OPEC+ Discusses Production Cut Extension

Oil Rises To $38 As OPEC+ Discusses Production Cut Extension   The Organisation of Petroleum Exporting Countries and its allies led by Russia are moving closer to a compromise on extending current oil output cuts and are discussing a proposal to roll over supply curbs for...

Nigeria Loses N160bn To OPEC Production Cut

Nigeria Loses N160bn To OPEC Production Cut   Nigeria is projected to have lost over N160 billion in deferred revenue to a cut in the daily crude oil production by members of the Organisation of Petroleum Exporting Countries (OPEC) in May. However, the impact on gross receipts...

Oil Plunges Lowest On Russia Rejection Of OPEC Cut

Oil Plunges Lowest On Russia Rejection Of OPEC Cut   Oil prices tanked more than seven per cent at the weekend to their lowest levels since mid-2017 after Russia balked at Organisation of Petroleum Exporting Countries’ (OPEC’s) proposed steep production cuts to stabilise prices. Brent futures fell...