OPEC

OIL MARKET: OPEC puts world economic growth at 2.7% and 2.6% in 2023, 2024  By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, has put the world economic growth in 2023 and 2024 at 2.7 per cent and 2.6 per cent. In its August 2023 Monthly Oil Market Report, MOMR, obtained by The Daily, www.thedaily-ng.com, OPEC, stated: […]

OPEC: Saudi Arabia, Iraq, UAE remain top 3 oil producers By Eyo Nsima Saudi Arabia, Iraq and the United Arab Emirates, UAE remain the top three oil-producing members of the Organisation of Petroleum Exporting Countries, OPEC with 9 million barrels per day, bpd, 4.2 million bpd and 2.9 million bpd respectively. In its August 2023 Monthly

OIL MARKET: Prices hit $86.55 per barrel on OPEC meeting By Eyo Nsima The prices of crude oil have risen to more than $86.55 per barrel, from $82 per barrel, due mainly to the resolutions of the just-concluded meeting of the Joint Ministerial Monitoring Committee (JMMC) of the Organisation of Petroleum Exporting Countries; OPEC. The

Global rig count rises 3.4% to 1,884 — OPEC By Eyo Nsima Despite the clamour for Energy transition, there are indications that the oil and gas industry still attracts significant investment globally as the rig count, an index of measuring upstream activities, rose by 3.4 per cent, year-on-year, YoY basis to 1,884 in June 2023,

OPEC’s rig count rises 14.9% to 423 as Non-OPEC leaps to 1,461 — Report By Eyo Nsima The rig count of members of the Organisation of Petroleum Exporting Countries, OPEC, rose year-on-year, YoY by 14.9 per cent to 423 in June 2023, from 368 in the corresponding period of 2022. But on a month-on-month, MoM

Global energy demand will rise by 23% between now and 2045 — OPEC By Eyo Nsima The Secretary General, Organisation of Petroleum Exporting Countries, OPEC, HE Haitham Al Ghais, said the global energy demand will rise by 23 per cent between now and 2045. Speaking at the G20 Energy Ministerial Meeting, on 22 July 2023,

Nigeria’s rig count rises 27.3% to 14 — OPEC By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, has disclosed that Nigeria’s rig count rose, year-on-year, YoY, by 27.3 per cent to 14 in June 2023, from 11 in June 2022. It also maintained that on month-on-month, MoM, the country’s rig count rose by

OPEC, WAM sign deal on 8th OPEC International Seminar in Vienna By Eyo Nsima The Organisation of the Petroleum Exporting Countries (OPEC) and Emirates News Agency (WAM) have signed an agreement under which WAM will be a media partner for the 8th OPEC International Seminar to be hosted at the Imperial Hofburg Palace in Vienna,