OPEC Archives - 1st for Credible News

OPEC reports Nigeria’s oil imports exceeded exports by $58.5bn over 5yrs

Posted by Mayowa Oladeji
|Date: August 01, 2020
| 0 comments

OPEC reports Nigeria’s oil imports exceeded exports by $58.5bn over 5yrs

The Organisation of Petroleum Exporting Countries (OPEC), on Saturday, August 1, revealed that the value ...

The Organisation of Petroleum Exporting Countries (OPEC), on Saturday, August 1, revealed that the value of petroleum imports into Nigeria exceeded the value of exports by $58.5bn within a five-year p ...

August 01, 2020
| by Mayowa Oladeji

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Oil prices drop as market reacts to rising COVID-19 cases, US-China tension

Posted by Kingsley Alaribe
|Date: July 27, 2020
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Oil prices drop as market reacts to rising COVID-19 cases, US-China tension

Global oil prices slightly dropped early Monday morning; no thanks to the second wave of COVID-19 which i ...

Global oil prices slightly dropped early Monday morning; no thanks to the second wave of COVID-19 which is influencing investors to focus on safe-haven assets. Another major contributing factor to the ...

July 27, 2020
| by Kingsley Alaribe

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OPEC+: Nigeria, Iraq pledge to compensate for overproduction ahead Wednesday meeting

Posted by Mayowa Oladeji
|Date: July 14, 2020
| 0 comments

OPEC+: Nigeria, Iraq pledge to compensate for overproduction ahead Wednesday meeting

Opec+ members, Nigeria and Iraq pledged they will boost their compliance to 100 per cent over the coming ...

Opec+ members, Nigeria and Iraq pledged they will boost their compliance to 100 per cent over the coming months; as the alliance of 23 oil producers looks to gradually taper a historic production cut ...

July 14, 2020
| by Mayowa Oladeji

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OPEC production output now at lowest level in nearly 30 years

Posted by Kingsley Alaribe
|Date: July 03, 2020
| 0 comments

OPEC production output now at lowest level in nearly 30 years

The production output of the Organisation of Petroleum Exporting Countries (OPEC) member-countries has re ...

The production output of the Organisation of Petroleum Exporting Countries (OPEC) member-countries has recorded its lowest level in nearly 30 years, due to production cuts after demand was heavily imp ...

July 03, 2020
| by Kingsley Alaribe

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IMF: Nigeria, other oil-exporting countries to lose $34bn revenue due to COVID-19

Posted by Mayowa Oladeji
|Date: July 01, 2020
| 0 comments

IMF: Nigeria, other oil-exporting countries to lose $34bn revenue due to COVID-19

The economic shocks of the coronavirus pandemic through lockdowns and eternal vulnerabilities might trigg ...

The economic shocks of the coronavirus pandemic through lockdowns and eternal vulnerabilities might trigger income loss of around $34 billion in Nigeria and other oil-exporting countries in Africa, th ...

July 01, 2020
| by Mayowa Oladeji

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Buhari warns MDAs against granting job slots to government officials

Posted by Mayowa Oladeji
|Date: July 01, 2020
| 0 comments

Buhari warns MDAs against granting job slots to government officials

President Muhammadu Buhari has again, warned Ministries, Departments and Agencies (MDAs) to disregard any ...

President Muhammadu Buhari has again, warned Ministries, Departments and Agencies (MDAs) to disregard any purported request from government officials aimed at conferring undue advantage on anyone seek ...

July 01, 2020
| by Mayowa Oladeji

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OPEC delivers three quarters of record oil cut in May – survey

Posted by Mayowa Oladeji
|Date: May 29, 2020
| 0 comments

OPEC delivers three quarters of record oil cut in May – survey

OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver ...

OPEC oil output hit the lowest in two decades in May as Saudi Arabia and other members started to deliver a record supply cut, a Reuters survey found; although Nigeria and Iraq are laggards in making ...

May 29, 2020
| by Mayowa Oladeji

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Saudi Arabia calls for urgent OPEC+ meeting to stabilize oil market

Posted by Lilian Osigwe
|Date: April 03, 2020
| 0 comments

Saudi Arabia calls for urgent OPEC+ meeting to stabilize oil market

Saudi Arabia has called for an urgent meeting of the OPEC+ group and other countries ...

Saudi Arabia has called for an urgent meeting of the OPEC+ group and other countries; in an effort to reach a fair agreement to restore the desired balance of oil markets, state m ...

April 03, 2020
| by Lilian Osigwe

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Nigeria slashes oil price in bid to woo buyers

Posted by Gideon Ayogu
|Date: March 25, 2020
| 0 comments

Nigeria slashes oil price in bid to woo buyers

The Federal Government has slashed the official selling prices for its crude oil to record lows. Equally ...

The Federal Government has slashed the official selling prices for its crude oil to record lows. Equally important, Nigeria is looking to woo buyers in order to clear a glut of unsold April cargoes. C ...

March 25, 2020
| by Gideon Ayogu

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OPEC+ deal collapse, virus double whammy to keep oil in $30s range

Posted by Lilian Osigwe
|Date: March 13, 2020
| 0 comments

OPEC+ deal collapse, virus double whammy to keep oil in $30s range

OPEC Oil prices are set to languish near current lows in coming months as the collap ...

OPEC Oil prices are set to languish near current lows in coming months as the collapse of a deal among major producers to curb output hammers; a market already reeling from fallin ...

March 13, 2020
| by Lilian Osigwe

| 0 comments

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