OPEC+

The Nigerian National Petroleum Company Limited (NNPC Ltd) and the Organisation of Oil Exporting Countries (OPEC) have pledged to work closely together to achieve the nation’s aspirations to attract investments and grow production. The…

OPEC says cooperation and dialogue within the wider OPEC+ producer alliance will continue, after Angola last month said it would quit, and that it plans a Feb. 1 meeting to review implementation of its latest oil output cut. Continued…

Angola has said it is leaving the Organization of the Petroleum Exporting Countries (OPEC) with effect from 1st January 2024, after exits from Ecuador in 2020 and Qatar in 2019. Angola, which joined OPEC in 2007, produces about 1.1…

Angola has announced that it's leaving the OPEC oil producers cartel, coming after it battled with the group over lower production quotas this year. Diamantino de Azevedo, the African nation's oil minister, said Angola “does not gain…

Oil prices climbed about 2% to a six-week high on Friday as supply concerns outweighed fears that further interest rate hikes could slow economic growth and reduce demand for oil. Brent futures rose $1.21, or 1.6%, to $77.73 a barrel by…

Nigeria has reclaimed its rank as the top crude oil producer in Africa for May 2023, according to the Organisation of Petroleum Exporting Countries (OPEC) Monthly Market Report (MOMR). Nigeria produced 1.184 million barrels of crude oil…

Nigeria’s oil production quota has been reduced by 20.7 percent, following OPEC+ member countries' agreement to cut global oil production by 1.393 million barrels per day. This comes just as OPEC+ member countries seek to achieve and…

The Organisation of the Petroleum Exporting Countries and allies led by Russia, has reached a deal on output policy after seven hours of talks on Sunday, deciding to reduce overall production targets from 2024 by a further total of 1.4…

The Organisation of the Petroleum Exporting Countries (OPEC) has called on the International Energy Agency (IEA) to avoid undermining investments in the oil industry. OPEC Secretary-General, Haitham Al Ghais made the call in a statement…

Oil prices have surged after OPEC+ producers announced a surprise round of outpt cuts.  Brent oil futures jumped $4.30 to $84.19 a barrel on news output would be cut by about 1.16 million barrels per day, while US crude climbed $4.17…