Tag: opec

Reps, Finance Ministry spat over N2.8b payment to OPEC

By Nicholas Kalu, Abuja The House of Representatives and the Ministry of Finance on Tuesday disagreed over the procedure for  paying  N2.8 billion to the Organisation of Petroleum Exporting Countries…

NNPC committed to OPEC agreement, says Kyari

By John Ofikhenua, Abuja The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC)…

Brent crosses $53 as OPEC meeting resumes

By Lucas Ajanaku   The price of Brent oil gained more than four per cent yesterday as the Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+,…

OPEC to extend manufacturing

  Our Reporter WHILE the most recent Petroleum Status Report tilted firmly into positive territory, the crude market has taken a cautious stance despite the bullish inventory report. In the…

Update: OPEC, Russia deal raises hope for crude oil

By Lucas Ajanaku   A contemporary hope for oil producing international locations reminiscent of Nigeria, and Algeria  was raised on the weekend as oil costs hit the very best stage…

Oil Depreciates as Cut Extension Divides OPEC

By Adedapo Adesanya Leaders of the Organisation of the Petroleum Exporting Countries (OPEC) adjourned their virtual meeting on Monday when they could not agree on what to do on the…

Crude Extends Bullish Run as OPEC Releases Demand Outlook

By Adedapo Adesanya Oil prices held their positive run despite the Organisation of the Petroleum Exporting Countries (OPEC) revising its expectations for global oil demand downwards due to the renewed…