OPEC November oil output slips before Aramco IPO, policy meeting
OPEC oil output has fallen in November as Angolan production has slipped due to maintenance and Saudi Arabia has kept a lid on supply to support the market before the initial public offering (IPO) of state-owned Saudi Aramco, a Reuters survey found. On average, the 14-member Organization of the Petroleum Exporting Countries has pumped 29.57 […]
Oil hits 6-week high on hopes of extended OPEC output cuts
Oil futures hit a six-week high on Tuesday, rising for a fifth day on optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices.
Oil rises as Saudi signals OPEC cuts to continue under new minister
Oil rose on Monday on expectations that Saudi Arabia, the world’s largest oil exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister Prince Abdulaziz bin Salman.
Nigeria’ll abide by OPEC oil cut agreement — NNPC
The Nigerian National Petroleum Corporation, NNPC, yesterday, stated that the country is a commitment to production adjustments agreed upon under the Declaration of Cooperation, DoC, between member countries of the Organization of the Petroleum Exporting Countries, OPEC and Non-OPEC countries, in July 2019.
Nigeria’s rig count remains unchanged, as OPEC appreciates by two
For three months running, Nigeria’s rig count remained unchanged at 14 for the month of June, the same number it recorded in May and April, while the Organisation of Petroleum Exporting Countries (OPEC), appreciated by two, having recorded 576 in June, as against 574 recorded in May.
Price of Bonny Light hits $66.04pb
THE price of Bonny Light, Nigeria’s premium oil grade, yesterday, inched up further to $66.04, from $64.00 as the Organisation of Petroleum Exporting Countries, OPEC, continues to remove excess oil from the market.
