Get the latest top stories, headlines, analysis and more on the Organization of Petroleum Exporting Countries (OPEC) on Orient Energy Review.
Tag: OPEC
US Threatens To Review Relations With S/Arabia Over OPEC+ Production Cuts
The United States has signaled that it is reviewing its relationship with Saudi Arabia following the Organization of the Petroleum Exporting Countries alliance...
OPEC+ Agrees On 2m bpd Output As Demand Concerns Take Centre...
True to expectation, the 23-member OPEC+ alliance yesterday slashed its November output by 2 million barrels per day. The output cut is the latest...
OPEC+ Meets Today: May Cut Production Plan for November
……..Experts Say U.S. Shale Won’t Fill Gap
As OPEC+ is expected to review its production plans for November during its meeting holding today, industry consensus...
OPEC+ Plans Oil Production Cut To Address Price Slump
………Cartel Meets In-Person This Week in Vienna
The OPEC+ super group of oil producers would hold its first in-person meeting this week, the first since...
OPEC Raises Oil Production – Highest Level Since 2020
A Reuters’ survey published last Friday showed that OPEC raised its September crude oil production to the highest level since 2020, yet failed to...
OPEC Names Nigeria, Russia Laggards in Oil Production Quotas
...As OPEC Run on 3.6mpd Below Target
As OPEC nations continue to struggle with production quota, data show that in August the two biggest laggards...
OPEC Expects Global Oil Demand to Peak at 96.4mbpd in 2021
Revises Down Its Forecast by 160,000 bpd
The Organization of Petroleum Exporting Countries (OPEC) has forecasted that global oil demand would average 96.4 million barrels...
OPEC Daily Basket Price: Wednesday, 20 Jan. 2021, Stood at $55.75...
The price of OPEC basket of thirteen crudes stood at $55.75 a barrel on Wednesday, compared with $54.85 the previous day, according to OPEC...
Nigeria Restates Commitment to OPEC+ Agreement on Oil Production
The Nigerian National Petroleum Corporation (NNPC), on Wednesday, said it will continue to abide by the output cut agreement of the Organisation of the...
OPEC+ Resolve Impasse on Output: Saudi Arabia Deepens Cut, Others Rollover...
The impasse on OPEC+ production level for the months of February and March 2021 which resulted in the extension of the group’s meeting to...
OPEC Stays on Existing Production Cut Despite Vaccine-Induced Optimism
…Says OPEC Achieve Biggest Production Cut in 2020
The Organsiation of Petroleum Exporting Countries and its allies (OPEC+) have failed to reach a consensus...
Pre-Pandemic Oil Price Demand Not Attainable in 2021 – Yergin
Despite the gains stirred up by the news of coronavirus vaccines, the global oil demand will take another year or so to return to...
OPEC Forecasts a 6.56% Growth in Global Crude Oil Demand in...
The Organisation for Petroleum Exporting Countries (OPEC) is projecting a 6.56 per cent growth in global crude oil demand to 95.89 million barrels per...
Kuwait Names New Oil, Finance Ministers as Govt. Faces Liquidity Crunch
Kuwait’s emir on Monday approved a new cabinet that included new ministers of oil and finance for the OPEC member state which is mired...
Oil Falls After OPEC+ Talks Delay Sets Off Supply Alarm
Oil prices fell on Tuesday as concerns over mounting supply returned to the fore after leading producers delayed talks on 2021 output policy, while...
OPEC Continues Discussion on Oil Recovery, Production Cut
The Organisation of the Petroleum Exporting Countries will, on Tuesday, continue its discussion on the extension oil production cuts as it set its sights...
OPEC Predicts Robust Oil Demand by 2025
The secretary of the Organisation for Petroleum Exporting Countries (OPEC), Mohammed Sanusi Barkindo, has predicted that the outlook for oil demand is expected to...
Oil, Gas After Covid-19: Day of Reckoning or A New Era...
The combination of disruptive Covid-19 epidemic demand and oversupply has created an unprecedented crisis for the global oil and gas industry.
The oil and gas...
Nigeria’s Rig Count Drops by 30%, Stakeholders Lament Lull in Oil...
The Organisation of Petroleum Exporting Countries (OPEC) has said that the number of active oil rigs in Nigeria declined by 30% in October, with...
OPEC Members Regret Trump’s Loss, Not Sure of Biden
Key members of OPEC have expressed regret over President Donald Trump’s loss at the recent presidential polls in the US, saying the cartel will...
