OPEC

Oil prices rose more than $2 in early trade on Monday after Saudi Arabia raised prices sharply for its crude sales in July, an indicator of how tight supply is even after OPEC+ agreed to accelerate its output increases over the next two…

OPEC+ may speed up output increases to 650,000 bpd a month in July and August, up from the initial plan to raise output by 432,000 bpd a month in July, August and September. This, sources said, is in the move to bridge the drop in output…

As investors keep up with positive sentiment and buy companies' stocks with sound fundamentals, the Nigerian stock market is expected to continue on a bull run in the new week, heading against rising insecurity, domestic supply chain…

The United Arab Emirates' de facto leader Sheikh Mohammed bin Zayed al-Nahyan was elected president of the Gulf Arab state by a federal supreme council on Saturday, solidifying his rule over the OPEC oil producer and key regional…

Oil prices plunged about 5 per cent in volatile trading on Tuesday on demand concerns after the International Monetary Fund (IMF) cut its economic growth forecasts and warned of higher inflation. Brent crude, the global…

Oil prices climbed on Tuesday in reaction to Shanghai's relaxation of some COVID-19 restrictions and as OPEC warned it would be impossible to replace potential supply losses from Russia. Brent crude futures rose by $3.26, or 3.31%, to…

Brent, the crude against which Nigeria’s oil is priced, moved up in price to $114/barrel as at 4.34pm Nigerian time on Wednesday, rising by $3.72 or 3.37 per cent when compared to the previous day’s cost. Its rise in price followed the…

A former the Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC) King Edmund Daukoru, has urged host oil communities to support investors and companies in their domain and refrain from burdening them with…

Seplat Petroleum Development Company Plc has reversed ts previous year's decline by declaring a profit of $24.86 million, rising up from the $100.551 million loss it recorded in Q1 2020. According to its unaudited results for the three…

Monday 19th April 2021: The Group Managing Director of the Nigeria National Petroleum Corporation (NNPC), said there would be no increase in the ex-depot price of Premium Motor Spirit (PMC) in May. The NNPC has maintained an ex-depot…