OPEC

JUST IN: Oil price hits $77.16 per barrel as OPEC+ meets in Vienna By Eyo Nsima The price of Brent has risen to $77.16 per barrel, from $75 per barrel in the international market as the Organisation of Petroleum Exporting Countries and its allies, popularly known as OPEC+ meet in Vienna, Austria. The prices of […]

BREAKING: OPEC cuts Nigeria’s oil production by 20.7% to 1. 38 mb/d By Eyo Nsima THE Organisation of Petroleum Exporting Countries and its allies, popularly known as OPEC+ has cut Nigeria’s oil production, excluding condensate by 20.7 per cent to 1.38 million barrels per day, mb/d, from 1.74 mb/d. The decision targeted at achieving stability

BREAKING: JMMC, 35th OPEC and non-OPEC Ministerial Meeting begin soon — Secretariat By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC has disclosed that the 49th Meeting of the Joint Ministerial Monitoring Committee (JMMC) and the 35th OPEC and non-OPEC Ministerial Meeting will soon commence. In an update obtained by The Daily, www.thedaily-ng.com, OPEC, stated:

OIL MARKET: Prices rise over $75 per barrel as OPEC+ meeting begins soon in Vienna By Eyo Nsima The prices of many crudes have risen over $75 per barrel in the global market as the Organisation of Petroleum Exporting Countries, OPEC, and its allies, popularly known as OPEC+ plan to hold a crucial meeting. The

OPEC puts world economic growth at 2.6% for 2023 By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, has estimated the 2023 economic growth at 2.6 per cent. In its May 2023 Monthly Oil Market Report, MOMR, obtained by The Daily, www.thedaily-ng.com, the organization, stated: “World economic growth is estimated at 3.3% for 2022 and

IEA should not undermine oil industry investments — OPEC By Eyo Nsima The Secretary General, Organization of Petroleum Exporting Countries, OPEC, Haitham Al Ghais, has called on the International Energy Agency, IEA, to desist from taking actions that could discourage investments in the oil and gas industry. The Executive Director, IEA, Fatih Birol, has been

By Eyo Nsima The latest 1.16 million barrels per day, bpd oil cut by the Organisation of Petroleum Exporting Countries, OPEC, has continued to send oil prices rising in the global market. Oil prices had instantly risen to about $84 per barrel in response to the cut, which major consumers, especially the United States, have

By Eyo Nsima The Organisation of petroleum Exporting Countries, and its allies, popularly known as OPEC+, has commended Saudi Arabia, Iraq, UAE, Kuwait, Kazakhstan, Algeria, Oman and Gabon for making voluntary adjustments targeted at achieving stability in the global oil market. The commendation was made at the 48th Meeting of the Joint Ministerial Monitoring Committee

By Eyo Nsima Iran, Saudi Arabia and Iraq have emerged as the top three Organisation of Petroleum Exporting Countries, OPEC, nations in terms of rig count, a major index of measuring upstream activities in the oil and gas industry in February 2023. The nations – Iran, Saudi Arabia and Iraq – recorded 117, 77 and

The Organization of the Petroleum Exporting Countries (OPEC) will host the 8th OPEC International Seminar at the Imperial Hofburg Palace in Vienna, Austria, on 5-6 July 2023 under the theme, ‘Towards a Sustainable and Inclusive Energy Transition’. The OPEC International Seminar is one of the premier events in the energy industry calendar. It strengthens cooperation