The Organisation of the Petroleum Exporting Countries (OPEC) has said that more than a $1 trillion of frozen capex or cuts were recorded in 2015 and 2016.

The price of Nigeria’s Bonny Light crude oil reached $67.10 per barrel to emerge the highest priced product among members of Organisation of the Petroleum Exporting Countries (OPEC).

Members of the Organisation of the Petroleum Exporting Countries (OPEC) are said to require investments of about $10.5trillion to meet the projected increase in global oil demand.

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.

Oil-exporting cartel OPEC is optimistic that production cuts agreed with non-members to prop up prices will lead to a recovery in the market, its chief said on Wednesday.

Iran is optimistic that OPEC can reach an agreement to cut production and improve prices, Oil Minister Bijan Zanganeh said on Saturday after meeting the cartel's chief Mohammad Sanusi Barkindo.

A prolonged period of low crude prices, such as those being experienced by the international oil market since the summer of 2014, is not good for anyone ...

The consensus decision among the Organisation of the Petroleum Exporting Countries (OPEC), has been effective in arresting any further deterioration in prices and it has helped reduce volatility, OPEC Secretary General, Mohammad Sanusi Barkindo, has said.

United Nations Framework Convention on Climate Change (UNFCCC) and Organisation of Petroleum the Exporting Countries (OPEC) has identified economic diversification as the leeway for building economic resilience.

The Orgaisation of the Petroleum Exporting Countries (OPEC) has said that the agreement by member countries to settle for out put freeze underlines the organisation’s continued commitment to a ‘sustainable stability’ in oil markets.

OPEC Secretary-General, Mohammad Sanusi Barkindo, made this disclosure at the 15th International Energy Forum Ministerial Plenary Session 1, titled: “Oil markets: outlook and the stability challenge”.

The Organisation of the Petroleum Exporting Countries (OPEC) has listed the challenges confronting the oil market to include uncertain prospects for the global economy ...