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Tag: OPEC
Oil Prices Will Jump 28% In 2023 – Global Research Group
...Also that another energy crunch would push prices higher
The political research and consultancy firm, Eurasia Group, has forecasted that oil prices will spring back...
OPEC Production Fell In November, 3 Members Boosted Output
OPEC has affirmed that crude oil production fell by an average of 744,000 barrels per day.According OPEC’s Monthly Oil Market Report released yesterday, Saudi...
Price Cap On Russian Oil Signals An Attempt By Buyers’ Group...
When you cross the event horizon of a black hole, there is no obvious break, no discernible boundary — and yet there is no...
2023: OPEC+ Will Focus On Reducing Market Volatility, While Achieving Stability
Saudi Arabian energy minister, Prince Abdulaziz bin Salman has said that OPEC+, the alliance of 23 oil-producing countries, aims at reducing market fluctuations, and...
NNPC/CNL PV Confirms Securing $1bn Investment Financing
Nigerian National Petroleum Company Limited (NNPC) Ltd and Chevron joint venture have confirmed the securing of $1.4 billion finance for some of their projects.
The...
Survey Names Nigeria, Russia, Others As OPEC Production Laggards
...As OPEC misses production quota by 310,000bpd
A survey has named Nigeria and Russia among the biggest oil production laggards in the broader OPEC+ group...
Oil Prices Rebound As Investors Still Weigh Against Potential OPEC+ Supply...
The market seems not convinced that OPEC+ will not go for another supply reduction ahead of its December 4 meeting. Oil prices have been...
UAE Denies OPEC+ Production Hike Discussions
...Says Wall Street Journal Report Was UntrueThe United Arab Emirate has denied reports that it has not been in any discussions with some...
S/Arabia Slashes Oil Exports By 430,000bpd
...As OPEC+ Cuts Output by 2mbpd
Saudi Arabia, world’s largest crude oil exporter, has started to slash its crude exports after OPEC+ is now reducing...
OPEC Lowers 2022, 2023 Oil Demand Forecast, Citing China’s Covid New...
Citing China’s zero-Covid policy, geopolitical uncertainties and weaker economic activity, OPEC has slightly lowered its global oil demand forecast for this year and next...
Nigeria: Oil Output Rises Above 1mbpd In October
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has reported that for the first time since July 2022, the daily crude oil production output of...
Namibia May Be On The Way To Joining OPEC Membership
If recent offshore oil discoveries prove to be large enough for commercial development, Namibia may be on its way to joining the Organisation of...
NUPRC Flaunts Score Card, Promises to Unlock 1.2mbpd Shut-in Capacity To...
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that it has granted 274 export permits for a total of 480.8 million barrels of...
2mbpd Oil Cut: Saudi Believes Relations With US Will Improve
Saudi Arabia has expressed the belief that currently soured relationship it has with the United States will improve over time.
A rift appeared for the...
OPEC+ 2mbpd Oil Cut Came At “The Worst Possible Moment” –...
The US is still worried about the OPEC+ group’s decision to cut crude oil production target by 2 million barrels per day (bpd), pointing...
U.S. Assures OPEC That G7 Price Cap On Russian Oil Won’t...
The US has assured OPEC members that the G7 group’s price-capping measures against Russia is meant only to restrict Russia’s oil revenues, and was...
OPEC+ Decision On Oil Cut ‘Technical’ and ‘Right,’ – UAE Energy...
…As more EU members stand up to defend output reduction United Arab Emirates' minister of energy and infrastructure, Suhail Al Mazrouei, has said that the...
US Push: Arab Nations Rally for S/Arabia Over Proposed November Output...
…insisting that decision is crucial to market stability
A number of Arab nations seem to be showing solidarity with Saudi Arabia who is under pressure...
Crude Oil Production: Angola, Libya Maintain Lead Over Nigeria – OPEC...
Angola and Libya have for the second consecutive month maintained their lead over Nigeria as Africa’s highest crude oil producers, according to a report...
OPEC Total Output Still Below Target Despite Increased Oil Production
OPEC raised its crude oil production by 146,000 barrels per day (bpd) last September, but reports say the 10 OPEC members in the OPEC+...
