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OPEC
News and stories about OPEC
OPEC says Nigeria’s crude oil production for August declined to 972 thousand barrels per day (t/bpd).
Even though others factors can be attributed as reasons for Nigeria's dwindling oil production, the major factor for this is crude oil theft.
OPEC's leading oil producer, Saudi Arabia, says the recent oil price decline is driven by poor futures market liquidity and macro-economic fears.
OPEC+ says it expects global oil markets to tip into surplus this quarter as it downgrades the outlook for demand, which would also be rivalled by non-OPEC supplies.
OPEC says that Nigeria recorded an average of 1.183 million barrels per day (bpd) in its crude oil production for the month of July 2022
IEA says that the OPEC+ will most likely not carry out the expected oil output increase in the coming months due to limited spare capacity.
OPEC says Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in the month of June 2022.
Mohammed Sanusi Barkindo's sudden demise came as a surprise to many especially those who had rapport with him moments before his death.
Mohammed Sanusi Barkindo served as the Secretary-General of OPEC until his death.
Muhammad Sanusi Barkindo, the Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), is dead.
Energy prices might still be going strong, but due to concerns about the recession, several long positions in the market suffered double-digit losses in June.
OPEC has increased Nigeria’s crude oil production quota from 1.766 million barrels a day in June to 1.799 million barrels per day for the month of July.