Tag: OPEC

Nigeria’s crude oil refining output has dropped dramatically by 92% over the last 10 years, according to the World Energy 2023 study, raising serious questions regarding the country’s energy industry.…

A 1.5 million barrels per day oil output target has been set for Nigeria by the Organization of Petroleum Exporting Countries (OPEC) for 2024. This occurred after strenuous talks that…

The Federal Government (FG) established a goal to reach the 1.8 million barrels per day oil production quota set by the Organization of Petroleum Exporting Countries (OPEC) by May 2023.…

The Organisation of the Petroleum Exporting Countries (OPEC) estimated $12.1 trillion in investment is required to meet this demand despite the energy transition after raising its projections for the medium-…

Global stock markets mostly fell Wednesday, with investors worried about high-flying share prices and the potential for inflation to spiral. On Wall Street, the Dow eked out another record, but…

The OPEC oil producers’ club will meet virtually Monday to mull over an extension to production cuts as the coronavirus pandemic continues to weigh on global demand. Ministers from the…

Nigeria and other participating oil-producing countries across the globe reduced the global supply of crude oil by 1.6 billion barrels since May this year, the Organisation of Petroleum Exporting Countries…

Nigerian National Petroleum Corporation (NNPC), says it has directed all its partners and suppliers to bring down cost of product to between 30 and 40 per cent to ensure production…

Oil prices clawed back the previous day’s losses on Friday, with Brent nudging above $60 a barrel. This is as tighter supplies from key producers offset slowing demand growth and…

Brent oil slipped to around 71 dollars a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts. An…