Tag: opec
Production gains lift Nigeria above OPEC quota again
Nigeria's crude oil production increased to 1.53 million barrels per day (bpd) in May 2026, according to the latest report…
UAE announces exit from OPEC, OPEC+
The Emirates also reaffirmed its commitment to investing across the energy value chain, including oil and gas, renewables and low-carbon…
OPEC+ to Increase oil output, warns recovery May be slow
The group said it will raise output by 206,000 barrels per day. However, this increase may not have much real…
Oil prices fall as OPEC plans to produce more
Sources say OPEC+ may agree to raise production by as much as 500,000 barrels per day in November three times…
Oil prices drop as OPEC plans to increase output
Investors are also watching the effects of new U.S. tariffs. President Donald Trump has warned of strong tariffs on countries…
Nigeria meets OPEC production quota for second time in 2025
Speaking to Argus Media, NNPC’s Group Chief Executive Officer, Bashir Ojulari, said the country’s current crude oil output is around…
Lokpobiri to OPEC: Tinubu’s reforms have positioned Nigeria for energy investment
The Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, has called on the international community, particularly the Global…
Nigeria’s economy shrinks by 1.2% in 2023’s first quarter
OPEC said this was against a growth of 3.6 per cent in fourth quarter of 2022, an indicator of 2023…
Russia to extend voluntary oil production cut
According to Novak, the decision by OPEC+ to extend the current agreement to 2024 and the voluntary production cuts by…
Crude oil production: Angola, Libya overtake Nigeria
Nigeria’s crude oil production for the month of August averaged 1.100 million barrels per day.
OPEC+ snubs Biden, increases output by only 0.1 percent
The increase, equivalent to 0.1% of global demand, follows weeks of speculation that Biden's trip to the Middle East and…
OPEC, Sylva lament Barkindo’s sudden death
Barkindo passed on in Abuja on Tuesday night at the age of 63.
Oil prices slide after OPEC+ production hike
The oil exporters’ cartel said it would increase supply by 648,000 barrels per day in July and August, 200,000 barrels…
Nigeria, Angola miss out on OPEC quota increases
At present quota, the two oil producers, including Russia have been unable to meet their targets, Russia because of the…
OPEC raises Nigeria’s oil production quota for June
OPEC took the decision at its 28th OPEC and non-OPEC Ministerial Meeting despite Nigeria missing its approved target for April…