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Report: Nigeria’s oil revenue hits N85 trillion in five years

Nigeria earned about N85 trillion, or $236.2 billion from oil between 2014 and 2018, the 54th edition of Annual Statistical Bulletin by the Organisation of Petroleum Exporting Countries (OPEC), has revealed.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC cuts oil demand outlook

The Organisation of Petroleum Exporting Countries (OPEC) says it has cut its forecast for global oil demand growth and warned of potential further cuts as international trade disputes continue to fester.

Nigeria earns $236 billion from petroleum exports in five years

Nigeria, Africa’s top oil producer, earned a total of $236.15bn from petroleum exports over the last five years, a new report by the Organisation of Petroleum Exporting Countries has shown.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil prices rise after OPEC agrees to keep output cuts

Oil price hit multi-week highs on Monday after OPEC indicated it was likely to maintain production cuts that had helped boost prices this year.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC considers two scenarios to adjust oil production

The Organisation of the Petroleum Exporting Countries and its allies are set to debate at least two scenarios that would increase oil production beyond current levels, according to sources.

Oil lifted toward $73 by real, threatened supply cuts

Oil edged higher toward 73 dollars a barrel on Friday, supported by real and threatened supply disruptions in the Middle East and heading for a weekly gain.
Saudi Arabia's Energy Minister Khalid Al Falih

Saudi Arabia may raise June crude prices to Asia

Top oil exporter Saudi Arabia is expected to raise June prices for all crude grades it sells to Asia to track stronger Middle East benchmarks, trade sources said on Thursday.

Oil prices fall as US output hits record high

Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles.

Oil prices dip as US output at record high since 2017

Oil prices fell on Thursday, pulled down by record U.S. crude production that led to a surge in stockpiles.

Oil falls after Donald Trump presses OPEC on Iranian sanctions

Oil prices fell on Monday, extending a slump from Friday that ended weeks of rallying after President Donald Trump demanded that producer club, OPEC, raise output to soften the impact of U.S. sanctions against Iran.

IMF urges Algeria to avoid economic instability during transition

Algeria needs to focus on avoiding economic instability during its political transition after the resignation of President Abdelaziz Bouteflika, a senior official at the International Monetary Fund (IMF) said.

Saudi King okays planned multiple oil investment pact with Nigeria

The King of Saudi Arabia, Salman bin Abdulaziz Al Saud, and the Crown Prince, H.R.H. Mohammed bin Salman bin Abdulaziz Al Saud have endorsed a memorandum of understanding (MoU) being prepared by Nigeria and the Kingdom of Saudi Arabia to enable both countries engage in multiple aspects of oil and gas business.

Oil set to extend long run of weekly gains in tense global market

Oil prices dipped on Friday on expectations that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a hardening of sanctions on Tehran by the United States.
Bijan Zanganeh

Saudi, UAE overstate their oil capacities – Iranian minister

Iranian oil minister Bijan Zanganeh said Saudi Arabia and the United Arab Emirates overstate their oil capacities, Iran’s state news agency IRNA reported on Friday.
Iraq’s Oil Minister Thamer Ghadhban

Iraqi minister assures oil customers of production capacity

Iraq’s oil minister said on Thursday his country had the capacity to increase its oil production to 6 million barrels per day (bpd) if needed, but it was committed to OPEC-led output cuts and would not take unilateral action to boost supply.

Oil hovers below 6-month high amid easing of supply concern

Oil prices slipped below six-month highs on Wednesday after signs that cushioned a rally based on fears of tight supply resulting from OPEC output cuts and U.S. sanctions on Venezuela and Iran.

Iran sanctions: India gets extra oil from major producers

India will get additional supplies from other major oil producing countries to compensate for the loss of Iranian oil, India’s Petroleum and Natural Gas Minister, Dharmendra Pradhan, said on Tuesday.

Oil prices hit 2019 highs after US ends Iran sanction waivers

Oil prices hit 2019 highs on Tuesday after Washington announced that all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran.

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