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OPEC
News and stories about OPEC
Nigeria’s crude oil production fell to an average of 1.219 million barrels per day (mbpd) in April 2022, representing a 1.53% decline...
The Organisation of the Petroleum Exporting Countries (OPEC) has announced an increase in Nigeria’s oil production quota.
OPEC has revealed that it is impossible for other oil producers to replace Russian supply as that additional capacity does not exist.
The prices of both major benchmarks are down over 5% towards the end of the Asian session...
Nigeria’s crude oil production fell to 1.417 million barrels per day in the month of February compared to 1.427 for the month of January.
The Brent crude futures ended the week at $112.67 a barrel, after hitting a weekly session low of $107.13.
The prices of the black liquid declined after the UAE stated that it supported pumping more oil into the market as prices rose to multiyear highs.
The black liquid rallied by 4% on Tuesday as the United States President, Joe Biden, banned Russian oil imports.
The prices of both main benchmarks of the black liquid has extended their rally in the Asian session on Thursday...
As crude's blistering rally continues, U.S. oil exceeded $111 per barrel in Wednesday's trading and Brent topped $110 per barrel.
The price of oil fell on Friday after rising sharply early in the session due to concerns about potential global supply disruptions caused by sanctions against Russia.
The Minister of State for Petroleum has disclosed that a much more comfortable oil price range for Nigeria would be between $70-$80.