OPEC+

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…

Opec+ members have announced voluntary cuts to their oil production of about 1.15m barrels a day in a surprise move they said was aimed at supporting market stability. The group of oil-producing nations had been largely expected to…

The Organisation of Petroleum Exporting Countries boosted supplies by 150,000 barrels a day last week, with total group output placed at 29.14 million barrels a day. Nigeria's Oil output rebounded after a clampdown on theft…

The energy ministers of Saudi Arabia and Iraq met on Thursday to stress the importance of adhering to OPEC+ output cuts that last until the end of 2023, the Saudi energy ministry said in a statement on Friday. Iraq's energy minister…

Nigeria now ranks 7th, down from 5th place on the Organisation of Petroleum Exporting Countries’ (OPEC) crude oil production list, according to its Monthly Oil Market Report for November, 2022. The report examines oil…

The Organisation of Petroleum Exporting Countries, OPEC+ has agreed to adjust downward, the overall production of crude oil by 2 mb/d, from the August 2022 required production levels. This will commence from November 2022 for OPEC and…

The Organisation of the Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.238 million barrels per day (bpd) in the month of June 2022. The figure is a far cry from the 1.766 million…

The death of the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, has been met with shock and sadness across the energy and oil community in Nigeria, and globally. Mr. Barkindo…

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Mohammad Sanusi Barkindo, has died. Mr. Barkindo died on Tuesday evening, according to the OPEC Secratariat and the Managing Director of the…

President Muhammadu Buhari has expressed Nigeria’s gratitude to the outgoing Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Mohammed Barkindo, describing him as a worthy ambassador of the country.  …