Tag: opec
Kyari lauds OPEC’s 9 months extension for Oil Production Cut
The incoming Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Mr. Mele Kyari, has hailed the leadership of the…
OPEC lauds improving oil market conditions
President, Organization of the Petroleum Exporting Countries (OPEC), Mr. Salvador Fernandez, on Monday applauded the improving oil market conditions being…
Oil prices drop as traders await G20, OPEC meetings
Some of the previous session’s strong oil gains recorded have been erased on Thursday as oil prices fell, owing to…
Oil slips to $71, hit by talk of higher OPEC production
Brent oil slipped to around 71 dollars a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern…
Oil prices pressured by economic slowdown
Oil prices were on Wednesday weighed down by economic growth concerns that dampened the outlook for fuel consumption, but supported…
Oil prices rise as OPEC cuts supply
Oil prices were near 2019 highs on Tuesday, supported by supply cuts led by producer club OPEC.
Oil prices rise as OPEC cuts supply
Oil prices rose on Monday, buoyed by output cuts by OPEC and reports that the United States and China are…
Oil slips away as surging U.S. supply undermines OPEC cuts
Oil prices slipped away from 2019 highs on Wednesday, with surging U.S. supply and slowing economic growth tempering upward pressure…
Oil prices rise amid OPEC-led supply cuts
Oil prices rose on Tuesday amid OPEC-led supply cuts and U.S. sanctions against Iran and Venezuela, although analysts expect surging…
Oil cut: OPEC waits for Russia
OPEC has made a planned cut in oil output effectively conditional on the contribution from non-OPEC producer Russia, delegates said…
Oil prices fall amid stock market slide
Oil prices fell along with weak stock markets on Thursday, but trading was tepid ahead of a meeting by the…
Qatar’s Decision to Quit OPEC Shows Frustration With Saudi Arabia -Iran
Iran says Qatar’s decision to quit the Organisation of the Petroleum Exporting Countries (OPEC) shows frustration of small crude producers…
Oil falls on rising U.S. inventories
Oil prices fell on Thursday after U.S. crude inventories swelled to their highest level since December adding to concerns about…
Oil rises for a fourth day, buoyed by OPEC supply plans
Oil rose for a fourth session in a row on Monday buoyed by the prospect that top exporter Saudi Arabia…
Global spare oil capacity shrinking – OPEC
OPEC Secretary-General Mohammad Barkindo, on Tuesday said global spare oil capacity was shrinking.
Oil market well supplied – OPEC
OPEC sees the oil market as well supplied and is wary of revisiting a glut next year, the group’s secretary-general…
Factors beyond producers’ control are impacting oil market – OPEC
OPEC Secretary-General, Mohammad Barkindo, said on Thursday that there are many non-fundamental factors influencing the oil market that are beyond…
OPEC able to raise oil output by 1.3m barrels per day
Saudi Energy Minister Khalid al-Falih said OPEC is technically able to raise oil output by 1.3 million barrels per day…
OPEC expects global trade disputes to hit energy demand
OPEC Secretary-General Mohammad Barkindo expects global trade disputes to hit energy demand and eventually hurt economic growth.
Oil prices fall after Trump demands OPEC cut prices
Oil prices fell on Thursday after U.S. President Donald Trump sent a strident tweet demanding that OPEC cut prices for…
Trump warns OPEC to stop manipulating oil markets
President Donald Trump lashed out at OPEC with a warning to stop manipulating oil markets and piled pressure on U.S.…
Oil prices rise on uncertainty over Libyan crude exports
Oil prices rose, Tuesday on uncertainty over Libyan oil exports, although plans by producer cartel OPEC to raise output loom.
OPEC to boost production by 1m barrels per day
The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, said Organisation of Petroleum Exporting Countries (OPEC) members may boost…
Oil output: Saudi Arabia canvasses support of Gulf allies
Saudi Arabia is struggling to convince fellow members of Organisation of the Petroleum Exporting Countries (OPEC) including Gulf allies on…
Oil price: OPEC, non-OPEC countries seek lasting cooperation
Mr Suhail Al Mazrouei, the President of Organisation of Petroleum Exporting Countries (OPEC) says OPEC and non-OPEC countries are working…
Kyari appointed Nigeria’s OPEC representative
The Nigerian National Petroleum Corporation (NNPC) says its Group General Manager, Crude Oil Marketing Division, Mallam Mele Kyari has been…
OPEC crude production cut is transformative – Barkindo
Mr Mohammed Barkindo, the Secretary-General of the Organisation of Petroeum exporting Countries (OPEC), on Monday declared that the organisation’s decision…
Russia won’t flood market with oil, Barkindo says
Russia has pledged not to abandon a deal with OPEC to keep a lid on oil supplies, even as crude…
Oil price rise as OPEC reaffirm commitment to supply cuts
Oil prices rose on Thursday after a survey showed OPEC’s commitment to its supply cuts remains in place.
OPEC may set output quotas for Nigeria, Libya – Oman Oil Minister
OPEC and other oil-producing states could set quotas on oil production for Nigeria at 1.8 million barrels per day and…