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The Organisation of Petroleum Exporting Countries (OPEC) and its allies agreed yesterday to cut oil production by 1.2 million barrels per day, owing to a record global crude glut and the need to halt the price slump.
The Organisation of the Petroleum Exporting Countries has made a planned cut in oil output effectively conditional on the contribution from non-OPEC producer Russia, delegates said on Thursday as the group gathered in Vienna for a meeting aimed at supporting battered oil prices.
The Organisation of Petroleum Exporting Countries (OPEC) and its allies are working toward a deal this week to reduce oil output by no less than 1.3 million barrels per day, four sources said.
Saudi Crown Prince Mohammed bin Salman was holding meetings in Algeria as he continued his tour of Arab nations after attending the Group of 20 summit in Argentina.
The downward slide of crude price may hamper current economic prospects in the country, particularly if the development refuses to abate, oil and gas analysts have said.
Russia is planning to sign a partnership agreement with the Organisation of the Petroleum Exporting Countries (OPEC), Energy Minister Alexander Novak said on Monday.
Major oil producers meet in Abu Dhabi on Sunday to consider reverting to output cuts after a sharp slide in crude prices revived fears of a 2014-style crash.
Two former ministers under Robert Mugabe appeared in court in Harare on Wednesday on corruption charges, nearly a year after Zimbabwe’s long-time ruler was ousted from power.
Russian Energy Minister Alexander Novak has said Moscow will support Iran to counter US oil sanctions.
Oman is offering ideas to help Israel and the Palestinians to come together but is not acting as mediator, Yusuf bin Alawi bin Abdullah, the sultanate's minister responsible for foreign affairs said.
Saudi Arabia's crown prince is scheduled to address an investment forum in Riyadh Wednesday, his first public speech since the murder of critic Jamal Khashoggi plunged the kingdom into crisis.
The United States said Tuesday it was revoking visas of Saudis involved in the murder of journalist Jamal Khashoggi, as President Donald Trump ridiculed the kingdom’s response as “one of the worst cover-ups” in history.
Oil prices dipped on Tuesday amid expectations of an increase in U.S. crude inventories, but signs of a fall in Iranian oil exports this month kept losses in check.
Oil prices rose on Tuesday on signs Iranian oil exports this month have fallen from September ahead of US sanctions against Tehran that are set to start in November.
Oil traded above 85 dollars a barrel on Wednesday, supported by expectations that U.S. sanctions on Iran will tighten supply and strain the ability of Saudi Arabia and other producers to pump more.
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The Council of the Islamic Financial Services Board (IFSB) with its headquarters in Kuala Lumpur, Malaysia, has admitted the Nigeria Deposit Insurance Corporation (NDIC) as a full member of the board.
Former National Publicity Secretary of the All Progressives Congress, APC, Bolaji Abdullahi, has shared his reasons the Muhammadu Buhari Nigerians voted into power in 2015 is not the same President at Aso Rock today.
A Grade `C’ Customary Court, Bode Igbo, Ibadan, on Tuesday adjourned the divorce suit filed by Taiwo Philip, as the wife, Bukola, urged the court to plead with her husband on her behalf.
Suspected cultists on Monday killed three members of a rival cult group in Wurukum, a suburb of Makurdi, the Benue state capital.
Ex-International Emmanuel Emenike has ruled out the possibility of him taking a deal with any club in China, as he says he prefers playing European football.
The presidential candidate of the Peoples Democratic Party (PDP) and the leadership of the party’s campaign council are currently holding an emergency meeting with members of the Coalition of United Political Parties (CUPP).
President Muhammadu Buhari has felicitated with Governor Willie Obiano and the people of of Anambra for the award by Pope Francis to the governor.
There is tension at the Ondo State branch of the Nigeria Union of Local Government Employees, following a suspension order issued by a faction of the Ondo State House of Assembly, barring the union’s leadership.
The Kwara State House of Assembly has passed a motion outlawing anyone travelling on waterways in the state without a life jacket.
More than 7,400 women from Myanmar have been forced to marry Chinese men between 2013 and 2017, the authors of a new study said on Friday.