The Organization of the Petroleum Exporting Countries and its allies (OPEC+) has agreed to a modest oil production increase of 137,000 barrels per day for November, following a consensus between Saudi Arabia and Russia, two of the group’s most influential members.
Maryamu Idris, Managing Director of NNPC Trading Limited, has officially been appointed as Nigeria’s National Representative to the Organization of the Petroleum Exporting Countries (OPEC).
OPEC+ recently agreed to expedite the release of an additional oil output, continuing its strategy of focusing on market share ahead of pricing.
The Organization of the Petroleum Exporting Countries (OPEC) and its allies, known collectively as OPEC+, have agreed in principle to raise oil production by an additional 137,000 barrels per day (bpd) in October 2025, according to Bloomberg.
Nigerian oil blends contracts settled above the $71 mark at the mid-week trading session amid market volatility in...
Nigerian crude prices rose on Monday after Ukraine stepped up attacks on Russia, fanning concerns that Russian oil supply could be disrupted, and expectations for a cut in U.S. interest rates buoyed the outlook for global growth and fuel demand.
Nigeria’s fiscal stability faces renewed pressure as global oil prices fall and crude production continues to trail official targets, heightening the risk of a wider budget deficit and higher borrowing needs.
Nigerian crude ended the day slightly unchanged as investors evaluated whether a potential agreement between the US and...
Eight OPEC+ countries have agreed to raise their crude oil production by 547,000 barrels per day (bpd) in September 2025, in response to improved global economic growth and improved oil market fundamentals.
Oil traders widely expect the Organization of the Petroleum Exporting Countries and its allies (OPEC+) to approve another significant oil production increase this weekend, likely completing the revival of its previously suspended output.
The Organisation of the Petroleum Exporting Countries (OPEC) has projected a potential shortfall of 23 million barrels per...
Nigerian crude prices dipped to a three-week low on Tuesday, falling back to rates seen before the recent Israel-Iran fighting as fading supply fears and talk of an OPEC+ output increase weighed on the market.
