OPEC Archives — Page 2 of 2 — City Business News

December 2, 2021 No Responses

Oil Rises Ahead Of OPEC Meeting

Oil prices clawed back some losses on Wednesday after steep falls in the previous session, as major producers prepared to discuss how to respond to the threat of a hit to fuel demand from the Omicron variant.U.S. West Texas Intermediate (WTI) crude...

November 26, 2021 No Responses

Oil Dips, Awaits OPEC+ Response To U.S.-Led Oil Release

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas...

November 15, 2021 No Responses

OPEC To Sustain Cautious Oil Production

The Organization of the Petroleum Exporting Countries (OPEC) and allied oil-producing countries rebuffed pressure from U.S. President Joe Biden to pump significantly more oil and lower gasoline prices for American drivers, deciding to stick with...

October 5, 2021 No Responses

Oil At 7-Year High As OPEC Decides On Increase

Oil prices jumped Monday after OPEC and allied oil-producing countries stayed with their gradual approach to restoring output slashed during the pandemic, agreeing to add only 400,000 barrels per day in November. The decision Monday by the Vienna-based oi...

September 22, 2021 No Responses

Nigeria In Talks With OPEC+, To Raise Quota

Nigeria is in talks with OPEC+ to raise its oil production quota to about 2.2 million barrels per day, the OPEC member’s petroleum minister told reporters on Tuesday in Dubai.“What we’re getting right now is 1.74 million barrel...

February 2, 2021 No Responses

Oil Prices Rise As Producers Commit To Output Restraint

Oil prices rose around 1 per cent on Tuesday after major producers showed they were cutting crude output in line with their commitments on restraint, supporting a market thrown out of kilter by weak demand during the coronavirus pandemic.Brent crude ...

January 4, 2021 No Responses

Oil Prices Drop As OPEC Warns of 2021 Q1 Downside Risks

Oil prices edged lower on Monday, the first working day of 2021 trading, ahead of a meeting of OPEC and allied producers to discuss output levels for February with fears for first-half demand seeping into the market as the coronavirus pandemic lingers.Bre...

May 31, 2020 No Responses

OPEC Mourns Baru, ex-GMD Of NNPC

The Organisation of Petroleum Exporting Countries (OPEC) has described the death of Dr Maikanti Baru, former Group Managing Director of NNPC as a huge loss to the oil and gas sector in Nigeria. Dr Mohammed Barkindo, Secretary-General, disclosed this in.....

October 6, 2019 No Responses

OPEC, GECF Seal Research, Cooperation MoU

The Secretaries General of the Organization of the Petroleum Exporting Countries (OPEC) and the Gas Exporting Countries Forum (GECF) have signed an Memorandum of Understanding (MoU) to strengthen cooperation in research and the sharing of best practices. &nbsp...

September 11, 2019 No Responses

OPEC Lauds Nigeria As 70 Countries Indicate Interest In Global Maritime Security Conference

The Organisation of Petroleum Exporting Countries (OPEC) has commended the Federal Government of Nigeria for accepting to host the upcoming Global Maritime Security Conference, saying the talks will go a long way in addressing security concerns in the maritime...