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OPEC
News and stories about OPEC
Nigeria’s missed deadline spells potential oil production quota cut to 1.38 million barrels per day in 2024.
The survey pointed out that most African members of OPEC showed slight increases in their crude oil production during the highlighted month.
The Organization of Petroleum Exporting Countries (OPEC) has said that Nigeria is set to witness the set-up of small modular refineries with a capacity of 20,000 barrels per day each in the medium term.
A review of global crude prices on Friday, October 13, revealed that Brent crude shot up to $90 per barrel and has since then held above $90.
The Organization of Petroleum Exporting Countries (OPEC) has said that long-term refinery closures could be expected in Africa.
Russia’s President, Vladimir Putin has said that the Organization of Petroleum Exporting Countries (OPEC) will continue to coordinate current actions to stabilize the global oil market.
Global oil demand is set to keep rising in the coming years before experiencing a gradual decline in 2045.
Consequently, short sellers took centre stage in the oil market on sentiments that energy-price inflation over the past three months will likely force the Federal Reserve to hold interest rates steady for the foreseeable future.
Brent crude dipped on Wednesday ahead of a meeting of the OPEC+ ministerial council, as the market weighed expectations for tighter supply against concerns that high-interest rates could dampen fuel demand.
In this article, Octa experts describe three events investors and traders should be aware of. Learn more about the ongoing food crisis, the state of the European economy in case of energy shortages, and the impact of OPEC decisions on oil prices.
A Reuters survey has found that oil production output from the Organization of Petroleum Exporting Countries (OPEC) in the month of September 2023 rose on increases from Nigeria and Iran.
A recent assessment of oil prices conducted on Thursday, September 28 at 5:00 AM (GMT+1) revealed that Brent crude had surged to $97.24 per barrel, marking its highest point since November 2022.