The Organisation of the Petroleum Exporting Countries said its 2.2 million barrels per day expectations for economic growth in 2024 is expected to play a defining role in shaping global demand and supply in the oil market. OPEC stated this…
By NJ Ayuk, Executive Chairman, African Energy Chamber Six months after the World Health Organization (WHO) declared COVID-19 is no longer a health emergency, it’s still difficult to fully grasp the far-reaching damage the pandemic has inflicted, from the tremendous…
Available data from the Organization of Petroleum Exporting Countries (OPEC), has indicated that Saudi Arabia’s latest oil production cuts are set to tighten global markets sharply next month. Even before the kingdom announced its surprise new measures just over a…
The Minister of State for Petroleum Resources, Chief Timipre Sylva said a stable oil market will benefit all consumers,producers and investors. The Minister said this in a statement on Sunday in Lagos. He said Nigeria supports the call by Prince…
Saudi Arabia has declared that there is nothing more it can do to tame oil markets, implying that the world’s biggest crude exporter has no plan to accelerate its gradual production increases. “As far as we are aware there is…
The effect of the Omicron variant on global oil demand has been weaker than expected a month ago, and the oil market is set to be well-supported throughout 2022 despite monetary tightening policies, OPEC said on Tuesday, leaving its demand…
The Organization of Petroleum Exporting Countries. OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister said. The OPEC and its allies, a…
