Tag: opec
Demand for OPEC crude to rise by 1.2m barrels daily in 2016 – Kachikwu
Dr Ibe Kachikwu, the President, Organisation of Petroleum Exporting Countries (OPEC), says the demand for OPEC crude is expected to…
OPEC says cheap oil taking longer to subdue rival suppliers
LONDON, (Reuters) – OPEC on Tuesday raised its forecast of oil supplies from non-member countries in 2015, a sign that…
Oil price won’t rise even with reduced production quota – OPEC
Organisation for Petroleum Exporting Countries (OPEC) has said that prices for oil would not significantly rise even if the cartel’s…
OPEC Sees Oil Drop As Short-Term, Expects Stronger Demand
A drop in oil prices this month is likely to be short-term and will not deflect OPEC from its policy…
OPEC Sees More Balanced Oil Market In 2016
The oil market should be more balanced next year as China and the developing world use more oil while supply…
Oil prices rise after OPEC keeps low output target
Oil prices rose on Friday, breaking a two-day losing streak, after OPEC ministers kept their existing oil production target for…
Alison-Madueke’s Brother Kidnapped
Gunmen kidnapped the younger brother of Nigeria’s oil minister and current OPEC president Diezani Alison-Madueke in southern Bayelsa State on…
Oil prices extend gains as OPEC cuts output forecast
Oil prices advanced further on Monday as OPEC forecast a reduction in US output amid a dip in North American…
OPEC cannot protect oil price, says UAE
OPEC cannot protect world oil prices which have plunged since June, the United Arab Emirates said on Tuesday, adding that…
End Of National Cake
By Oyebanji Oluwagbenga Crude oil was discovered during the pre-independence era in Nigeria. Oil price first rose in 1973 from…
Of OPEC’s Chairmanship, Oil Theft And MT Patience
By Erasmus Ikhide The Organisation of Petroleum Exporting Countries, OPEC announced her demise for electing Diezani Alison-Madueke, Nigeria’s Minister of…
OPEC boss, Diezani, says cartel facing ‘challenging’ time
OPEC is facing a challenging time due to the fall in oil prices and many members and non-members are “suffering…
Venezuela president orders budget cuts after OPEC decision
Venezuelan President Nicolas Maduro said Friday his government would slash the budget of his oil wealth-dependent nation, as crude prices…
Oil losses continue after OPEC maintains output
Oil extended losses in Asian trade Friday after the OPEC cartel refused to cut production despite a global glut that…
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OPEC Elects Diezani Alison-Madueke As President
Ayorinde Oluokun/Abuja The Organisation of the Petroleum Exporting Countries OPEC on Wednesday at its ongoing 166th Ordinary meeting elected, Nigeria’s…
Oil extends losses ahead of key OPEC meeting
Oil prices retreated further in Asia Thursday on expectations the OPEC cartel will keep production at present levels despite pressure…
Oil prices nudge higher as OPEC meets to discuss cut
Oil prices nudged higher Tuesday as many dealers bet that the OPEC cartel is unlikely to agree on any cuts…
OPEC to keep production ceiling at summit
OPEC will keep its production ceiling steady at its “toughest ever” meeting this month, a former adviser to oil kingpin…
Oil prices linger amid OPEC output cut speculation
Oil prices traded mixed Tuesday as the market gauged the outlook for an OPEC oil production cut amid abundant global…
Now That Our Oil Exportation Is Threatened
The discovery of shale oil and its sudden boom in the United States of America is not doing Nigeria, one…
OPEC trims 2014 oil demand growth forecast
The OPEC oil cartel trimmed its 2014 forecast for global oil demand growth on Friday after weaker-than-expected economic growth in…
Jonathan wants Nigeria, OPEC nations to strengthen ties
President Goodluck Jonathan on Thursday, called for closer ties between Nigeria and other members of the Organisation of Petroleum Exporting…
Lukman, ex-OPEC Sec Gen, Petroleum Minister Dies
By Femi Adi/Kaduna Alhaji Rilwanu Lukman, former Secretary General of Organization of the Petroleum Exporting Countries, OPEC and also a…
Diezani nominated as OPEC secretary-general – Iraqi Oil Minister
Iraqi Oil Minister, Abdelkarim al-Luaybi on Tuesday 10 June claimed that Nigeria had nominated Petroleum minister, Diezani Alison-Madueke, to succeed…
Oil prices rise on eve of OPEC meeting
Oil prices rose further on Tuesday, the eve of OPEC’s meeting to decide on crude output levels, while energy market…
OPEC maintains 30m bpd ceiling
OPEC agreed on Wednesday to hold its crude production ceiling at 30 million barrels per day despite oversupply concerns and…
Shell Again Shuts Major Oil Pipeline
Shell has shut a major pipeline in Nigeria for the second time in less than a month after locating another…
OPEC optimistic On Oil Demand Growth In 2014
World oil demand will pick up at a faster rate in 2014, the oil exporting cartel OPEC said on Wednesday,…
OPEC probes shale oil as Nigeria, others hit
.Nigeria, Angola most hit OPEC, the oil producer cartel, is shrugging off talk of its weakening influence sparked by booming…
Oil prices take a dive
Oil prices diverged on Tuesday after New York crude struck an eight-month low with euphoria fading over a bailout deal…