AfterOPECmeeting, oilpriceslips below Nigeria’s new
Latest OPEC Secretariat calculations on Friday showed that the price of its basket of 12 crudes stood at $70.80 dollars per barrel on Thursday, shedding $2.90, or 3.94 per cent from the $73.70 per
Oilprices appreciate as OPEC - Premium Times Nigeria
Oilprices appreciated Tuesday after the Organization of the Petroleum Exporting Countries (OPEC) said that world oil demand would fall by 9.46 million barrels per day (bpd) in 2020.
Oilprices: OPEC postpones emergency meeting | Premium
READ ALSO: Again, OPEC approves 1.5 million barrels daily cut In the past month, the global oil market has seen its worse state in years, as oil prices continued to go on a downward slope, leaving
Anxiety over Nigeria's economy as oil - Premium Times
As at 11:18 Friday night, PREMIUM TIMES’ checks revealed that Brent crude sold at $45.54 while Nigeria’s Bonny light sold at $51.94, according to details on oil data site.
Nigeria: Coronavirus - Low Crude OilPrices May Force
Nigeria may soon slip out of reckoning as a profitable oil producer in the Organisation of Petroleum Exporting Countries (OPEC) if crude oil prices decline further by at least another $3.
OPEC+ holds another meeting on oil production cut
The previous meeting ended without the full support of Mexico, a non-OPEC oil producer. PREMIUM TIMES reported how, at the end of the Thursday meeting, the countries agreed to cut crude oil output
The Ludicrous World of Nigeria's - Premium Times Opinion
The Ludicrous World of Nigeria’s Oil and Gas Industry, By ‘Tope Fasua. who simply multiply our daily total OPEC-quota production by the current price of crude oil to determine ‘what Nigeria is getting’ on a daily basis. Crude is also sold ahead, rather than in a on-the-spot market. Premium Times Opinion.
Ripples Nigeria report wins top prize at West African
Nigeria seeks to halt OPEC’s planned output cut, as revenue dwindles Oil prices slip over potential outcome of OPEC+ meeting, Bonny Light gains $0.53 and Funke Busari of Premium Times
OPEC: Nigeria Records Largest Oil Output Drop In December
Nigeria, Africa’s top oil producer, recorded the largest production drop of 80,000 barrels per day in the Organisation of Petroleum Exporting Countries last month. The country exported less crude oil in December, according to ship-tracking data and loading schedules. Much of this decline came from reduced shipments of Bonga crude, which traders said had been […]
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OPEC's Quota Cut and Big Oil's - PremiumTimes Opinion
The decision, last week, by member countries of the Organisation of the Petroleum Exporting Countries (OPEC) to trim global oil production by 1.2 million barrels per day (mb/d) was much trailed — a little over two months ago, at a meeting in Algiers, OPEC had hinted at the possibility of a quota cut.
Buhari and OPEC lobby to retain Alison-Madueke – Desertherald
In this circumstance, Alison-Madueke’s OPEC presidency can do little to manage oil supply and improve price stability. The times demand new leadership with administrative ingenuity and professional experience to spare Nigerians the horrors of embarrassing fuel scarcity, in Africa’s biggest economy and largest oil-producer.
OPEC targets: Nigeria, Iraq pledge to cut output
Iraq’s and Nigeria’s oil ministers pledged have to reduce oil output to comply with their OPEC output targets. In a statement, the OPEC+ said it was important for all countries to reach full conformity with cuts. It also said OECD oil stocks remained above the five-year average. Market monitoring will continue ahead of the next […]
Oil Rises To $38 As OPEC+ Discusses Production Cut
The international oil price benchmark, Brent crude, stood at $38.51 per barrel as of 9:30pm Nigerian time on Monday. OPEC and its allies, a group called OPEC+, decided in April to cut output by a record 9.7 million barrels per day, or about 10 per cent of global output, to lift prices battered by a demand drop linked to lockdown measures aimed
Nigeria Risks Recession As Saudi Arabia Begins Global Oil
PREMIUMTIMES reported how the price of crude reduced Friday after oil producers failed to agree on oil cuts at an oil producers meeting. Members of the Organisation of Petroleum Exporting Countries (OPEC) resolved on Thursday to cut crude oil production by a combined volume of about 1.5 million barrels per day, to stop further reduction inScroll Up
Oilprices spike on Trump’s 10m cut deal | Naija247news
Global oil prices jumped on Thursday after President Donald Trump of the United States suggested that Saudi and Russia may cut supply by 10 million barrels. Following Trump’s comments, Brent
OPEC may include output quotas for Nigeria, Libya – Oman
OPEC and other oil-producing states could set quotas on oil production for Nigeria at 1.8 million barrels per day and for Libya at one million barrels per day, Oman’s Minister of Oil and Gas Mohamm…
Nigeria Exempted from OPEC Output Cuts | Egypt Oil & Gas
Nigeria got special concessions as the Organization of Petroleum Exporting Countries (OPEC) reached the much sought consensus to cut oil production by 1.2m b/d, effective January 2017, informed Premium Times.. A statement from the Press Director at the Minister of Petroleum Resources, Idang Alibi, Director Press, declared that Nigeria was exempted from OPEC’s production freeze plans as a
NewsNow: Nigerian Oil news | Breaking News & Search 24/7
Nigeriaslips into recession blamed on COVID-19 and oil prices Al Jazeera 18:19 21-Nov-20 Nigeria, the biggest African economy now in recession as oil output drops Hindustan Times 14:04 21-Nov-20 Nigeria slumps into recession as oil output drops News24 13:26 21-Nov-20
Puzzles of Nigeria’s OPEC membership - tralac trade law centre
“It is instructive that OPEC did not intervene in November 2014, as it had done in 2008, in 1998 and on numerous occasions, to stem the price slide, by balancing the supply equation, even in the face of evident oversupply stemming from some 5 million additional barrels of United States (U.S) shale oil.