OPEC

OPEC+ holds supply, oil prices edge higher as market gives cautious nod   Global oil prices have edged higher following the latest OPEC+ decision to maintain October production levels, but the muted gains suggest traders remain cautious about the strength of the cartel’s influence on the market. Brent crude rose 0.52 per cent to $96.78 […]

Nigeria’s IEA entry puts OPEC ties to new test By Eyo Nsima Nigeria’s admission into the International Energy Agency (IEA) as an Association country is set to give Abuja a stronger voice in global energy affairs, but could also introduce a new dimension to its longstanding relationship with the Organisation of the Petroleum Exporting Countries

OPEC+ maintains October output as Nigeria strives to increase production By Eyo Nsima OPEC+ has maintained October oil production levels for seven major producers, putting the spotlight on Nigeria’s struggle to consistently maximise crude output despite its huge reserves and pressing need for oil revenue. Saudi Arabia, Russia, Iraq, Kuwait, Kazakhstan, Algeria and Oman agreed

Nigeria Meets OPEC Quota for Third Consecutive Month as Production Hits 1.67mbpd in July 2026   Nigeria has for the third consecutive month met and exceeded its OPEC quota of 1.5mbpd, latest statistics from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have revealed. In the month of July 2026, Nigeria produced 1.505mbpd of crude oil

Top 10 OPEC oil producers in July as output rises to 20.91m bpd By Eyo Nsima The 10 leading crude oil producers among members of the Organisation of Petroleum Exporting Countries (OPEC) accounted for about 20.91 million barrels per day (bpd) in July 2026, as production increased amid disruptions to global oil supplies. Data contained

Saudi Arabia retains OPEC crown as UAE surges, Nigeria ranks seventh in June output   By Eyo Nsima Saudi Arabia remained the largest crude oil producer in the Organisation of the Petroleum Exporting Countries (OPEC) in June 2026 despite a decline in output, while the United Arab Emirates (UAE) recorded the biggest monthly increase to

Algeria Leads Africa as OPEC+ Approves 188,000 bpd Output Increase to Support Oil Market Stability   Algeria has emerged as Africa’s sole participant in a fresh OPEC+ production adjustment after seven members of the alliance agreed to raise their combined crude oil output by 188,000 barrels per day (bpd) from September 2026 in a move

Africa’s Crude Grades Face Price Pressure as OPEC Reports Softer Global Oil Market   Africa’s major crude oil exporters, including Nigeria, Angola, Libya, Congo and Equatorial Guinea, experienced lower prices for their benchmark crude grades in June as easing geopolitical tensions in the Middle East and improving global oil supplies weakened the international market, according

OPEC Sees Stronger Global Oil Demand Through 2027 as Market Tightness Supports Crude Prices   Global oil demand is expected to remain resilient through 2026 and 2027, with consumption continuing to outpace supply growth and underpinning crude prices, according to the latest projections contained in the Organization of the Petroleum Exporting Countries (OPEC) July 2026

Global Oil Market Tightens as Inventories Fall, OPEC Supply Gap Widens Declining OECD stocks and stronger demand signal firmer crude prices in coming months By Our Correspondent The global oil market is showing signs of tightening as commercial oil inventories continue to decline and world oil demand outpaces supply growth, reinforcing expectations of sustained support