OPEC’s conformity to voluntary production cut reaches 116%
Mohammad Sanusi Barkindo, who made the disclosure at the 33rd Asia Pacific Petroleum Conference in Singapore, said the conformity levels among the 24 participating countries.
OPEC exemption: Fragile peace In Niger Delta might hamper oil production – Stakeholders
Federal Government’s perceived lack of commitment to the peace process in Niger Delta might thwart its efforts to increase or sustain current oil production levels.
Oil rises to approximately $56 on rising refinery demand
Oil markets were firm on Monday and remained near multi-month highs reached late last week as the number of U.S. rigs drilling for new production fell...
Nigeria’s oil production exceeds OPEC’s 1.8mbpd restriction target
Crude oil production freeze is now imminent for Nigeria, as the country’s oil production increased by 138,300 barrels per day (bpd) from the 1.723 million (bpd in July to 1.861million bpd, according to the latest report from the Organisation.....
Fresh pressure on Nigeria over oil production cut as OPEC meets
The pressure on Nigeria to reduce its crude oil production figure of 1.8 million per day is expected to increase as the Organisation of Petroleum Exporting Countries (OPEC) meets on Friday, September 22, 2017 in Vienna, Austria.
Oil prices rise ,heading to $53 on signs of tightening market
Oil prices rose on Tuesday, lifted by indications that supply is gradually tightening, especially in the United States.
Oil prices fall almost two per cent after end-of-week rally
The world remains awash with oil despite a deal struck by some of the world’s biggest producers to rein in output. Rising U.S. production has been a major factor keeping supply and demand from balancing.
Nigeria’s exploration, production activities decline
Exploration and production (E&P) activities, which determine reserves and volume addition, have fallen significantly, as only nine active rigs operated in Nigeria last year, according to the Organisation of Petroleum Exporting Countries (OPEC).