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OPEC
News and stories about OPEC
Shell Petroleum Development Company (SPDC), has lifted the force majeure that was earlier declared on the export of crude oil from its Forcados Terminal
The historic oil deal between OPEC and other top oil-producing countries on Sunday, April 12, 2020, did not come without its own drama.
Oil prices slumped more than 50 cent a barrel on Monday, even after major producers agreed their biggest-ever output cut.
This is a breakdown of how much Nigeria will be contributing to the cuts including the agreed timelines.
There appears to be no respite for the oil crisis, despite the announcement of a deal by OPEC and its allies OPEC+ for output cut.
At the currency exchange rate under the investors and exporters (I&E) window, the naira dropped slightly to close at 386.8.
OPEC and OPEC+ finally agreed to a historic cut in crude oil output as part of measures geared towards tackling the global oil crises.
India, one of Nigeria's largest crude oil buyers has reduced its demand for crude oil by a whopping 70%.
The African Petroleum Producers’ Organization (APPO) has expressed its support for the resolutions that were reached during the 9th OPEC and non-OPEC Ministerial meeting which was held on Thursday, April 9, 2020.
The Federal Government has expressed its readiness for talks with other Organization of Petroleum Exporting Country (OPEC) member states
Oil prices dropped on Monday after the Saudis and the Russians postponed a meeting to discuss potential oil production cuts.
OPEC and Russia have rescheduled a meeting set for Monday to discuss oil production cuts and ending a cruel oil price war.