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The Organisation of Petroleum Exporting Countries (OPEC) and its allies on the Joint Technical Committee (JTC) are keeping the cartel’s forecast for growth in global oil demand this year, amid worries of surging COVID-19 cases in India, it was learnt yesterday.
The Organisation of Petroleum Exporting Countries (OPEC) has raised its forecast for crude oil demand growth this year on the back of an expected stronger economic recovery.
Pope Francis yesterday urged the International Monetary Fund (IMF) and the World Bank to cut the debt burden of poor countries hit by the economic impact of the COVID-19 pandemic and give their governments a greater say in global-decision-making.
OPEC expects oil inventories to drop by about 445 million barrels in 2021 in the latest supply and demand outlook being reviewed by a technical meeting on Tuesday, according to a copy of the report seen by Reuters.
This week’s surprise decision by Saudi Arabia and other top oil producers to broadly stick with output cuts despite rising crude prices was influenced by events in an unexpected place - Italy.
Oil prices eased on Tuesday as coronavirus cases globally continued to rise, but losses were capped amid reports of a blast in Saudi Arabia.
Both Brent and WTI were up on Tuesday morning before the data release on hopes of a larger round of stimulus checks signed off on by President Donald Trump and the House on Monday. Gains continue to be capped, however, by OPEC’s plans to gradually increase oil production after the start of the year despite lockdowns and depressed demand.
Global oil prices fell on Friday, adding to steep losses from the previous session, and were headed for weekly declines on worries that renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere would suppress fuel demand.
Last week, an incredible development occurred wherein 75 organisations from northern Nigeria placed a N100m bounty on fugitive leader of the Indigenous Peoples of Biafra, Nnamdi Kanu.
President of the Senate, Dr. Ahmad Lawan, has stated that the National Assembly will work with the Independent National Electoral Commission (INEC) in its bid to properly delineate electoral constituencies across the country ahead of the 2023 general election.
Governor Abdullahi Ganduje of Kano State has applauded the efforts of troops of 3 Brigade of the Nigerian Army for securing Falgore forest and other notorious forests in the state.
The Nigeria Centre for Disease Control (NCDC), has registered 26 new cases of COVID-19, bringing the total number of infections in the country to 167,401.
Ms Ulla Mueller, the Country Representative of the UN Population Fund in Nigeria, has urged government at all levels to implement laws and policies that will empower and guarantee women and girls their bodily autonomy.
The Federal Government has appointed erstwhile Super Eagles Skipper, Mikel Obi, Youth Ambassador.
Paul Pogba’s future at Manchester United will be up in the air unless he puts a pen to the dotted line. He is entering the final year in his contract, and reports suggest he could be used as a makeweight in a deal with Real Madrid.
Ahead of the June 28 commencement of online registration of voters across Nigeria, the Independent National Electoral Commission (INEC), on Thursday conducted a mock registration exercise using the media practitioners as the case study.
No fewer than seven schools in Kebbi State had been shutdown indefinitely in the aftermath of the attack on Federal Government College (FGC), Birnin Yauri, by suspected bandits, according to Alhaji Isah Arzika, State Chairman of the Nigeria Union of Teachers (NUT).
An international humanitarian agency, Catholic Relief Services (CRS), has empowered 7000 women with free poultry production business in Adamawa and Borno States.