Organisation of the Petroleum Exporting Countries

Oil prices fell for a second day on Thursday after official data showed U.S. crude and gasoline stocks rose and President Donald Trump signed into law a bill backing protesters in Hong Kong, fueling tensions with China.

Oil rose on Thursday after industry data showed a surprise drop in U.S. crude inventories, while comments from an OPEC official about lower-than-expected U.S. shale production growth in 2020 also provided some support.

Oman said on Monday that the Organisation of the Petroleum Exporting Countries (OPEC) and allied oil producers could extend a deal to limit crude supply but may not consider deepening cuts.

Oil demand in highly industrialised countries will shift from slight growth to a decline after 2020, while India and China will ensure that global oil consumption will grow over the next decades, an official said.

The Minister of Finance, Budget and National Planning, Zainab Ahmed, has said the federal government adopted a lower oil benchmark price of $57 per barrel for the 2020 budget as against the $60 per barrel in the 2019 budget because of the expected oil glut in 2020, as well as the need to cushion against unexpected price shock.

Oil prices fell on Thursday on concerns of lower fuel demand as talks this week between the United States and China, are not expected to help end the trade war between them.

Oil and gas workers on Monday identified obsolete refineries and pricing uncertainties as some of the areas that Mr Mele Kyari, new Group Managing Director (GMD), Nigerian National Petroleum Corporation (NNPC), must tackle.

The Organisation of the Petroleum Exporting Countries on Monday said that oil and gas remained part of key solutions in combating climate change.

The Organisation of the Petroleum Exporting Countries (OPEC) said on Monday that oil and gas remained part of key solutions in combating climate change.

The Organisation of the Petroleum Exporting Countries (OPEC) has stressed the need for a quick resolution of the conflicts between the U.S., Venezuela and Iran.

The new Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Mr. Mele Kolo Kyari, and his management team will assume duty today at the NNPC towers in Abuja.

Oil prices fell on Thursday to erase some of the previous session’s strong gains, as traders wait for the G20 summit in Japan and for a meeting of OPEC and other crude producers to decide on an extension of output cuts.

The Organisation of the Petroleum Exporting Countries (OPEC) and the Nigerian Extractive Industries Transparency Initiative have commended Mr Mele Kolo Kyari’s appointment as NNPC boss.

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 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.

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.

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.

Brent oil slipped to around 71 dollars a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts.