Tag: OPEC

Oil prices rebound after Saudi denies talks on output increase by OPEC

Oil prices whipsawed on Monday, diving early to their lowest since early January but then rebounding as reports varied about whether Saudi Arabia and other OPEC oil producers are considering…

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Crude Oil Price Drops To $95 As US Dollar Rebounds

The market considers a higher US currency to indicate that the demand for crude oil would decline. Members of the EU recently signaled that the economic bloc might begin importing…

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Nigeria’s oil production rises above one million bpd

THE Nigerian government’s offensive against oil theft seems to be paying off as oil production rose above the one million barrels per day (bpd) mark for the first time since…

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World is in its ‘first truly global energy crisis’ – IEA

Tightening markets for Liquefied Natural Gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head…

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OPEC decision on production cut unanimous, says Sylva

Chief Timipre Sylva, Minister of State Petroleum Resources, says the Organisation of Petroleum Exporting Countries (OPEC) decision to cut two million barrels of crude oil production is a unanimous one.…

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Contradictions In Nigeria’s Battle Against Oil Theft In Niger Delta

Recently, the state-owned oil giant the Nigerian National Petroleum Company Limited (NNPC) announced the engagement of Global West, a company owned by an ex-militant, Government Tompolo to protect crude oil…

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Oil Prices Climb On Supply Disruption, Weaker U.S. Dollar

Oil prices climbed on Tuesday, bolstered by a weaker U.S. dollar and supply woes, although gains were capped by the specter of lower fuel demand from China as it persists…

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Angola, Libya Lead Nigeria In Oil Production

Angola and Libya have for the second consecutive month maintained their lead over Nigeria as Africa’s highest crude oil producers, a report by the Exporting countries (OPEC)  Organization of the…

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Oil Prices Steady On Prospect Of Balancing Supply After Steep Selloff

Oil steadied in early Asian trade on Tuesday as indications that producer alliance OPEC+ sought to avoid a collapse in prices, along with a slight softening in the U.S. dollar,…

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Oil Price Falls To $86/Barrel

Brent, the global benchmark for crude, dropped in price on Sunday as virtually all oil grades witnessed reduced prices on the first day of the week despite efforts by the…

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