OPEC

The oil market slowed down by more than 4 per cent on Tuesday following news of a possible ceasefire between Hezbollah and Israel. This shrank the price of Brent crude by $3.75 or 4.63 per cent to $77.18 a barrel and weakened the US…
Read More...

OPEC The crude oil market faces a critical juncture, driven by escalating geopolitical tensions in the Middle East and questions over global spare production capacity. Traders are caught between the potential for significant supply…
Read More...

Brent and Nigerian oil blends recorded a rebound to around $78 per barrel on Friday from a low of $70 amid escalating tensions in the Middle East, which heightened fears of supply disruptions. Particularly, data from Oil.price.com…
Read More...

The Organization of Petroleum Exporting Countries (OPEC) has clarified that the ongoing rise in fuel pump prices is largely driven by government taxes, especially in major oil-consuming nations. OPEC Secretary-General Haitham Al Ghais…
Read More...

The Organization of the Petroleum Exporting Countries, in its 2024 World Oil Outlook published on Tuesday, sees demand growing for a longer period than other forecasters like BP and the International Energy Agency, which see oil use…
Read More...

Nigeria's rising fuel prices have raised public concerns, with many blaming local producers like Dangote Refinery. However, OPEC emphasizes that taxes imposed by major oil-consuming nations are primarily responsible. OPEC's…
Read More...

The Organization of Petroleum Exporting Countries, OPEC clarifies concerns in Nigeria over increased fuel prices, where local oil producers like Dangote Refinery have faced scrutiny. OPEC urges a change in perspective regarding the…
Read More...

Oil prices soared in the global commodities market as refineries throughout the world began to cut run rates. Brent crude is trading 0.3% higher at $72.93 a barrel, while WTI, the US benchmark, is up 0.5% to $70.44. Oil prices have…
Read More...

File photo OPEC and its partners from Central Asia and Russia earlier this month delayed a rollback in production cuts agreed in 2023 to stem the decline in oil prices. This means OPEC+ will produce 2.2 million fewer barrels per day…
Read More...

The common man, who has been struggling with rising fuel prices, may soon find relief as crude oil prices in the international market have fallen significantly. This notable drop in crude oil prices raises hopes for a reduction in…
Read More...