OPEC projects 7% rise in global crude oil demand
Despite the challenges posed by the COVID-19 pandemic, the Organisation for Petroleum Exporting Countries, OPEC, yesterday, projected a 6.56 percent growth in global crude oil demand to 95.89 million barrels per day in 2021, compared to 89.99 million barrels per day in 2020.
Sylva, OPEC, Gbajabiamila, Kachikwu, others mourn Baru
The immediate past Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, is dead.
50 unsold cargoes of Nigeria’s oil await buyers
The global oil market remains dull as 50 unsold cargoes of Nigeria’s Bonny Light await buyers, indicating that the volatile market is still flooded with unsold stocks.
COVID-19: OPEC puts Nigeria’s oil output at 1.78 m/bd last month
The Organisation of Petroleum Exporting Countries, OPEC, has put Nigeria’s oil output, excluding Condensate, at 1.78 million barrels per day, m/bd, in April 2020.
Africa’s oil producers impacted by OPEC production cut
Africa’s oil-producing nations have not been spared the impact of the global decision to reduce oil output. About 14 countries in sub-Saharan Africa produce oil, which accounts for most of their annual export income. Crude oil prices rose marginally on Friday (May 1) as the Organization of Petroleum Exporting Countries (OPEC) and their allies started […]
OPEC daily basket price stands at $14.63 per barrel
The Organisation of the Petroleum Exporting Countries (OPEC) daily basket price stood at 14.63 U.S. dollars a barrel on Tuesday, compared with 14.19 dollars on Monday.
