opec news

Crude oil rose for a fifth day yesterday, on track for its strongest first quarter in eight years, thanks to a growing belief among investors that the Organisation of Petroleum Exporting Countries’ (OPEC) supply cuts will prevent a build-up in unused fuel, though concern … Read more via...

Total SA is poised to start exports of crude from a major new offshore field in Nigeria, adding to global supplies at a time when oil prices are plunging.... Read more via Leadership Newspaper – http://bit.ly/2MX6H3P Get more: Nigeria Business News

The European Parliament has recognised Venezuela’s self-declared interim president Juan Guaido as de facto head of state, heightening international pressure on the OPEC member’s … Read more via Nairaland – http://bit.ly/2TobY7a Get more World News

Oil prices climbed yesterday as hope rises that U.S.-Chinese talks in Beijing would bring a halt to trade disputes between the world’s biggest economies, while also the Organization of Petroleum Exporting Countries (OPEC) -led supply cuts further tightens markets. International Brent crude...

THE price of crude oil has crashed from $57.00 to $53.82 in the international market as the Organisation of Petroleum Exporting Countries, OPEC and others struggle to achieve stability. Oil A survey of the … Read more via Vanguard News Nigeria – http://bit.ly/2EGOfus Get more: Nigeria...

The just – concluded meeting of the acclaimed oil cartel group, the Organisation of Petroleum Exporting Countries (OPEC) has raised fears as to its continued relevance in the global oil market.... Read more via Leadership Newspaper – https://ift.tt/2zXqJpQ Get more: Nigeria Business News

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has clarified that the Organisation of Petroleum Exporting Countries (OPEC) did not grant Nigeria further exemption in the cartel’s output cut deal because the country did not request for further exemption. Kachikwu told THISDAY...

Crude oil price fell yesterday after the ministers of the Organisation of Petroleum Exporting Countries (OPEC) opted to wait for the outcome of their today’s meeting with non-OPEC member countries led by the Russian Federation before announcing an oil production cut that is almost...

The Minister of Petroleum, Industry and Mineral Resources of the Kingdom of Saudi Arabia, Khalid Al-Falih visited Nigeria last week and held talks with Nigeria, to forge a common alliance on the forthcoming OPEC meeting in Vienna. Nigeria’s Minister of State for Petroleum Resources, Mr. Ibe...

Iran says Qatar’s decision to quit the Organisation of the Petroleum Exporting Countries (OPEC) shows frustration of small crude producers with the dominant role of Saudi Arabia in OPEC, a senior Iranian energy official said on Monday. “This Qatar’s decision is very regretful … Read more...

The small, gas-rich state of Qatar said Monday that it will leave the oil cartel on January 1 after nearly 60 years of membership. The country's state oil company, Qatar Petroleum, made the announcement in a series of tweets. "The withdrawal decision reflects Qatar's desire to focus its efforts...

Oil prices slumped to 2018 lows on Friday in thin but volatile trading, dropping over concerns of … Read more via TODAY.NG – https://ift.tt/2Af27s4 Get more: Nigeria Business News

THE price of crude oil, which has been falling in the past three weeks, further dropped from $71 per barrel to $69 per barrel, yesterday as the Organisation of Petroleum Exporting Countries, OPEC, predicted oil demand growth to increase by 1.50… Read more via Vanguard News Nigeria –...

The price of oil surged back above $80 a barrel in early morning trading Monday after a meeting of OPEC and non-cartel members ended without any pledge to increase supply to the..... Read more via BusinessDay News – https://ift.tt/2QTBtMI Get more: Nigeria Business News

Gunmen fired on a military parade in southwestern Iran on Saturday, killing 24 people, half of them members of the Revolutionary Guards, state news agencies reported, in one of the worst attacks ever on the elite force.State television said the assault, which wounded more than 60 … Read more...

Trump tells OPEC to lower oil prices Ejiofor Alike with agency reports Ahead of the next hearing of the … Read more via Thisdaylive – https://ift.tt/2psgELG Get more World News

The Organisation of Petroleum Exporting Countries, said Nigeria’s oil production rose to 1.71 million barrels a day, bpd, in August. The figure according to OPECs monthly oil market report for September released on Wednesday, puts the... Read more via Leadership Newspaper –...

U.S. oil prices rose on Tuesday, breaking past $70 per barrel, after two Gulf of Mexico oil platforms were evacuated in preparation for a hurricane. U.S. West Texas Intermediate (WTI) crude futures were.... Read more via Reuters News – https://ift.tt/2MKsAXq Get more World News

Nigeria’s net oil export earnings this year (between January and July), have declined by about 21 per cent compared to 2017 performance. August 2018 data obtained from the Organisation of Petroleum Exporting Countries (OPEC), showed that net oil export earnings of … Read more via The...

Oil production from the Organisation of Petroleum Exporting Countries (OPEC) rose in July, despite supply shortfalls from Libya, Iran and Saudi Arabia. Rising output from Nigeria, Kuwait and the UAE offset the drops. OPEC production averaged 32.32 million barrels per day (bpd) in July, 40,700...