The Organization of Petroleum Exporting Countries, OPEC, is muzzling up and rallying members support to take additional measures aimed at stabilizing the oil market. The OPEC had signaled it will stay the course as group leader Saudi Arabia extends a…
Nigeria’s oil production fell 5.5% month-on-month from 1.184 million barrels per day in May to 1.249 million barrels per day in June 2023. Also, on year-on-year, YoY, the nation’s oil output dropped by 17.6 per cent to 1.249 mb/d in…
The Organization of Petroleum Exporting Countries, OPEC, has predicted rise in global energy demand by 2045. According to OPEC’s Secretary General Haitham Al Ghais, global primary energy demand is expected to surge by 23 per cent by 2045, adding that…
The Organization of Petroleum Exporting Countries, OPEC says it does not have a price target and is seeking to have a balanced oil market to meet the interests of both consumers and producers. The Organization perhaps refers to current Russia-Saudi…
Nigeria has congratulated the Organisation of the Petroleum Exporting Countries (OPEC) at 63. This is contained in a statement made available to the News Agency of Nigeria (NAN) in Abuja, by the Permanent Secretary, Ministry of Petroleum Resources, Amb. Gabriel…
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…
…as Chinese refiners seek cheaper alternatives from Nigeria, Russia The announce ment of crude oil output cut of around 800,000 bpd by Organization of the Petroleum Exporting Countries (OPEC) and its allies -OPEC+, has failed to yield its expected result,…
OPEC targets 40.46 mb/d crude oil production in 2024By Ibiyemi Mathew The Organisation of Petroleum Exporting Countries (OPEC) has said that it is targeting 40.46 mb/d crude oil production in 2024. According to a press statement, OPEC said it will…
The Organization of Petroleum Exporting Countries (OPEC) recorded a drop in its oil output for May following voluntary production cuts by members said to help support the market. According to a carried out by Reuters, OPEC production was down 460,000…
The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Haitham Al Ghais, has warned that global oil production capacity was dropping. Speaking during a recent interview with S&P Global Commodity Insights, he stated the refinery sector was not…
