Oil majors’ earnings improve on rising prices, demand
Optimistic expectations about demand from OPEC+ and rebalancing fuel inventories in the United States have aided the steady rise in oil prices, as well as recovery of many oil majors to profitability in the first quarter.
Uncertainty in oil market as OPEC postpones meeting
Efforts at stabilising crude oil price may suffer setbacks as the Organisation of Oil Exporting Countries (OPEC) and its allies struggle to manage market volatility following fresh worries
EIA hopeful of oil demand growth as price hovers around $60
The U.S. Energy Information Administration (EIA) has expressed optimism about oil demand growth owing to a stronger global economy this year, accelerating oil demand to 5.5 million barrels...
OPEC sees rising oil demand as it plans to open taps
OPEC upgraded its expectations for global oil demand growth in 2021 Tuesday on expectations of a growth rebound, as the oil-producing countries' organisation plans to lift output in the months ahead.
OPEC+ expected to stay cautious in face of market jitters
Oil producing countries grouped together under the OPEC+ alliance led by Saudi Arabia and Russia met on Thursday and were expected to agree to an extension to their current output cuts.
Oil prices bearish as OPEC meets to review production
Oil prices fell slightly yesterday, as shipping traffic resumed through the Suez Canal after days on hold and attention now switched to an OPEC+ meeting tomorrow where the extension of supply curbs may be on the table amid new coronavirus pandemic lockdowns.
Nigeria’s rough path to breaking strongholds of fuel subsidy
Since the January 2012 protest when Nigerians stood up against the removal of subsidy, there have been worries about the best way to remove fuel subsidy by the Federal Government...
OPEC commends Nigeria on compensation conformity
The Organisation of Petroleum Exporting Countries (OPEC) has commended Nigeria for achieving full conformity