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Nigeria’s 2023 Q3 Economic Growth Exceeds Expectations- OPEC

Nigeria’s 2023 Q3 Economic Growth Exceeds Expectations- OPEC

Nigeria’s 2023 third-quarter economic growth “exceeded expectations,” and this development has been attributed to robust activity in the non-oil sectors. According to the Organisation of the Petroleum Exporting Countries (OPEC), the economy saw a strong 3.1% year-over-year…

Oil Prices Surge As U.S Jobs Increases

Oil Prices Surge As U.S Jobs Increases

The United States oil prices rose from a near six-month low in early trade on Wall Street on Friday, as investors measured how stronger-than-expected jobs figures could factor into demand in the world’s largest crude…

Nigeria Expresses Interest To Join BRICS Nations

Nigeria Expresses Interest To Join BRICS Nations

Following the BRICS 2023 annual summit’s announcement of a six-country expansion plan and Argentina’s unexpected decline,Nige ria has expressed its ambition to join the economic alliance. Nigeria, Africa’s most populous nation and an OPEC member,…

Oil Prices Stabilise After Underwhelming OPEC+ Cuts

Oil Prices Stabilise After Underwhelming OPEC+ Cuts

Following a 2% drop on Thursday, November 30, the market is unconvinced that the latest round of OPEC+ production cuts will be able to lift prices out of their recent slump as oil prices stabilise…

Opec+ Cuts Fail To Lift Oil Prices For Sixth Straight Week

Opec+ Cuts Fail To Lift Oil Prices For Sixth Straight Week

On Friday, November 30, the oil prices looked set for a sixth straight week of declines, as voluntary oil output cuts agreed upon by OPEC+ producers fell short of market expectations, thereby extending losses Brent…

Oil Rises On Expectations Of Further OPEC+ Supply Cuts

Oil Rises On Expectations Of Further OPEC+ Supply Cuts

Oil prices on Monday went up by $1, extending gains on the prospect of the Organisation of Petroleum Exporting Countries (OPEC+) and deepening supply cuts to stable prices that have fallen for four weeks on…

FG To Produce 2m Barrels Of Crude Oil Per Day By 2024

FG To Produce 2m Barrels Of Crude Oil Per Day By 2024

President Bola Ahmed Tinubu-led government has revealed a plan to raise the nation’s crude oil production to a minimum of two million barrels per day by 2024. This is as the Federal Government said it is…

Oil Prices Rise After Week-Long Selloff On Supply, Demand

Oil Prices Rise After Week-Long Selloff On Supply, Demand

The Global oil benchmark Brent crude remained stuck below $80 per barrel on Friday but recouped some losses a day after sinking 5% to a four-month-low on growing worries about huge non-OPEC supply and cooling…

Rising Global Demand For Energy To Push Up Crude Oil Price – OPEC

Rising Global Demand For Energy To Push Up Crude Oil Price – OPEC

The Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), Haitham Al Ghais has hinted that the rising global demand for energy and oil is set to keep crude oil prices elevated. Al Ghais…

Oil Production Rises Despite Saudi Arabia Cut – OPEC

Oil Production Rises Despite Saudi Arabia Cut – OPEC

The OPEC’s oil production increased for the second consecutive month despite efforts by Saudi Arabia and other “OPEC+” members to reduce production and stabilize the market. According to a recent survey, the increase was orchestrated…