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OPEC
News and stories about OPEC
A review of global oil prices on Tuesday, September 19 via Oil Price showed that Brent crude was $95.06 per barrel as of 5:36 AM, GMT+1.
The Organization of Petroleum Exporting Countries (OPEC) has released a statement saying that fossil fuels continue to make up 80% of the global energy mix.
A review of global oil prices on Oil Price early on Wednesday, September 13 (5:36 AM, GMT+1), showed that Brent crude is at $92.28 per barrel.
The G-20 Conference held recently in New Delhi, India supports the use of energy from different sources.
Data from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has shown that the country produced 1. 4 million barrels per day of crude oil.
A Platts survey conducted by S&P Global Commodity Insights shows that oil production within the OPEC+ alliance experienced a noteworthy surge in output, primarily driven by Nigeria, Iran, and Iraq.
The Joint Ministerial Monitoring Committee (JMMC) of the Organization of Petroleum Exporting Countries (OPEC) has decided there will be no change to current crude oil production output.
Brent crude price was $84.71 per barrel after a slight fall earlier in the day after Saudi Arabia decided to extend its crude oil production cut which began in July, till the end of September 2023.
Saudi Arabia and Nigeria had the biggest decline in crude oil production under the umbrella of the Organization of Petroleum Exporting Countries (OPEC).
Crude oil supplies across the world are falling as demand outpaces supply. This is according to a July 31 report from Reuters.
During the just concluded G20 meeting of the Energy Ministerial meeting in Goa, India, the Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Haitham al Ghais, said that global energy needs will continue to rise given the expected growth in the world economy and population.
As of last Friday, Nigeria's official exchange rate is facing a significant divergence from parallel market rates, inching close to N100/$.