Tag: OPEC
Angola announces exit from OPEC
Angola has announced its decision to quit membership of oil cartel, the Organization of the Petroleum Exporting Countries (OPEC), effective immediately.
Oil Minister Diamantino Azevedo,...
Nigeria ranks least refining OPEC member with average of 10,600 bpd...
The Organisation of Petroleum Exporting Country, OPEC, has rated Nigeria, a leading African oil producer, as the least refining member with an average equivalent...
Nigeria’s oil production dips below 1mb/d – Report
An Organisation of the Petroleum Exporting Countries report has revealed that Nigeria’s crude oil production has dipped below 1 million barrels per day.
OPEC’s Monthly...
OPEC raises Nigeria’s oil output amid Saudi Arabia’s production cut
Members and non-members of the Organisation of Petroleum Exporting Countries, known as OPEC+, on Sunday, agreed to cut crude oil production volumes in order...
Price of oil soar as OPEC+ cuts production
Brent, the global benchmark for crude oil, soared in price on Monday, following the voluntary production cuts by member nations of the Organisation of...
Nigeria slips to seventh on OPEC ranking
Nigeria is now seventh on the Organization of the Petroleum Exporting Countries’ crude oil production list.This is according to its Monthly Oil Market Report...
Oil dips to $88/barrel as OPEC opts for 1mbpd cut
The price for brent crude, rose in price on Monday. This is as the Organization of Petroleum Exporting Countries and its allies consider an...
Nigeria loses N101bn worth of oil – OPEC
There was a dip in Nigeria’s crude oil production by 2.3 million barrels in July 2022 as compared to what the country produced in...
OPEC raises oil production quota as price dips
Nigeria’s crude oil production quota for September 2022 has been raised by the Organization of Petroleum Exporting Countries on Wednesday to 1.83 million barrels...
Oil production dips to 1.354m bpd in march – OPEC
Nigeria’s crude oil production declined to an average of 1.354 million barrels per day in March.The Organisation Petroleum Exporting Countries (OPEC) has said.
This was...