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…
Oil prices climbed on Tuesday after two days of losses, with some risk appetite returning as the market awaited clues from the U. S Federal Reserve chairman on potential rate rises and as some oil producers continued to struggle to…
The Organisation of Petroleum Exporting Countries, OPEC and non OPEC allies collectively known as OPEC+ have raised its output target by 400,000 barrels a day from February. The move had been broadly expected given U.S pressure to boost supply and…
Oil prices rose on Tuesday as investors expected the Organisation of Petroleum Exporting Countries, OPEC+ producers meeting on output to stick with their planned increase for February based on indications Omicron would have only a mild impact on demand. Brent…
… Replaces Barkindo as Secretary General The Organization of Petroleum Exporting Countries, OPEC, says there are opportunities that may guarantee further increase in output. The group met on Monday to discuss the appointment of a new Secretary General to succeed…
Nigeria has regained the top spot among crude oil producing countries in Africa with the nation’s crude oil production averaging 1.27 million barrels per day in November. The Organisation of the Petroleum Exporting Countries (OPEC) made this known in its…
The Organization of Petroleum Exporting Countries, (OPEC+) interventions on the market in recent years have helped the oil industry to see the beginning of the return of confidence and investments, Russian Deputy Prime Minister Alexander Novak told Russian TV channel…
The Organisation of the Petroleum Exporting Countries (OPEC) says the delicate balance between reducing emissions, energy affordability and security requires comprehensive and sustainable policies. The OPEC said that focusing on only one of these over the other could lead to…
By Uthman Salami Nigerian’s oil production quota has been raised to 1.666 million barrel per day by the Organisation of Petroleum Exporting Countries (OPEC) as a result of prevailing changes in the oil prices index. The Organisation of Petroleum Exporting…
