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Secretary-General of OPEC, Mr. Mohammed Barkindo

OPEC scribe discusses oil market development with IEA head

OPEC Secretary General Mohammed Barkindo has discussed the oil market development with the head of the International Energy Agency Fatih Birol on Monday after the attacks on Saudi oil facilities, an OPEC source told Reuters.
The Tadawul All-Shares Index, which tracks the Arab world’s largest capital market, sank three per cent, shedding some 200 points in the first few minutes before regaining some of the losses.

Saudi stock exchange slumps after oil facility attacks

The Tadawul All-Shares Index, which tracks the Arab world’s largest capital market, sank three per cent, shedding some 200 points in the first few minutes before regaining some of the losses.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Nigeria assures OPEC on crude oil production cut target

Minister of State for Petroleum Resources, Chief Timipre Sylva, says that Nigeria will cut down on its crude oil production to comply with the targets set by the Organisation of Petroleum Exporting Countries (OPEC).

Nigeria, Iraq agree to cut oil output

The Organisation of Petroleum Exporting Countries (OPEC) on Saturday agreed to trim oil output by asking over-producing members Iraq and Nigeria to bring production in line with their targets.
The Minister of State for Petroleum Resources, Timipre Sylva, says Nigeria must bring down the cost of production of its crude oil as the country is currently a laughing stock in the way it runs business in the oil and gas sector.

Nigeria to cut oil production by 100% in October

The Minister of State for Petroleum, Timipre Sylva, on Thursday said that Nigeria has agreed to cut oil production by 50% this month, by 100 percent in October this year.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Saudi, Russia call for better compliance with OPEC oil cuts

Saudi Arabia and Russia on Thursday called on OPEC members and its allies to better comply with oil production cuts.
An OPEC branded flag sits on a table ahead of the 169th Organization of Petroleum Exporting Countries (OPEC) meeting in Vienna, Austria. | Akos Stiller | Bloomberg via Getty Images

OPEC urges further production restraint

The OPEC oil cartel urged continued production restraint Wednesday, saying output gains are still expected to outpace growth in demand for oil.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

Oil hits six-week high on hopes of extended OPEC cuts

Oil futures hit a six-week high on Tuesday, rising for a fifth day on optimism that OPEC and other countries may agree to extend production cuts in a bid to support prices.
Saudi's Prince Abdulaziz bin Salman Al Saud

Oil rises as Saudi signals OPEC cuts to continue under new minister

Oil rose on Monday on expectations that Saudi Arabia, the world’s largest oil exporter, will continue to support output cuts by OPEC and other producers to prop up prices under new Energy Minister, Abdulaziz bin Salman.

Trade wars: Oil majors to consider fresh cuts

Top oil producers will consider fresh output cuts at a meeting this week, but analysts are doubtful they will succeed in bolstering crude prices dented by the US-China trade war.

Oil prices fall as market eyes trade war

Oil prices fell on Tuesday as the ongoing U.S.-China trade war cast a pall over markets, with soft South Korean data adding to concerns over emerging markets and a rise in the Organisation of Petroleum Exporting Countries (OPEC) output.

Brent crude price crosses $60 mark

Oil prices on Friday clawed back the previous day’s losses, with Brent nudging above $60 a barrel, as tighter supplies from key producers offset slowing demand growth and investors await clues on the U.S. Federal Reserve’s monetary policy.

President Buhari assigns cabinet portfolios, appoints Timipre Sylva oil minister

Nigeria’s President Muhammadu Buhari swore members of his cabinet into office on Wednesday, assigning a new minister of state for petroleum in Africa’s top producer of crude oil in a cabinet of 43 ministers.g

Oil rises on US high retail sales

Crude oil prices rose more than two per cent on Friday, recovering from two days of declines after data showing a rise in U.S. retail sales helped to ease concerns about a recession in the world’s biggest economy.

Congo Republic discovers more oil

The recent onshore discovery made in the Delta de la Cuvette deposit in the Republic of Congo is a game-changer for Congo and Africa. The discovery was announced on August 10th by SARPD Oil and PEPA, a Congolese consortium working as operators on the Block.
The Nigerian Guild of Editors, NGE, yesterday, expressed optimism in the ability of the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari to steer the corporation to enviable heights.

NNPC: Nigeria’ll comply with OPEC production agreement

This is as NNPC and the National Oil Spill Detection and Response Agency (NOSDRA) have assured of robust collaboration to urgently mitigate incidences of oil spill across the country.

Oil rebounds on U.S-Chinese trade dispute

Oil prices rallied on Tuesday following reports that the U.S has decided to delay the next round of tariffs that were to be imposed on Chinese goods.

Bonny Light price drops to $57.21, threatens 2019 budget

The execution of Nigeria’s N8.91 trillion 2019 budget is being threatened as the price of Bonny Light, the nation’s premium oil grade slides further from $60.86 to $57.21 per barrel, indicating a drop of $3.65.

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