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Tag "OPEC"

Oil falls below $40 as Iran threatens oversupply

    Oil falls below $40 as Iran threatens oversupply

Crude oil prices fell to what used to be a six-year-low, plunging below $40 less than 24 hours after Iran threatened to increase supply by 500,000 barrels a day. In

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Russia attends OPEC meeting as Venezuela leads strategy for $70/barrel

    Russia attends OPEC meeting as Venezuela leads strategy for $70/barrel

Russia and four countries outside the Organisation of Petroleum Exporting Countries (OPEC) are attending the group’s meeting on oil prices in Vienna, Austria. OPEC had initially invited eight non-member countries

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Oil prices fall again as US increases supply

    Oil prices fall again as US increases supply

Crude oil prices fell again on Wednesday, following the release of data from an industry group showing a larger-than-expected build in US crude inventories last week. The data predicting an

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Despite falling oil prices, OPEC increases supply

    Despite falling oil prices, OPEC increases supply

Regardless of the falling oil prices, the Organisation of Petroleum Exporting Countries (OPEC) has experienced an increase in crude oil supply to the global market. OPEC supply has increased in

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More worries for Nigeria as oil dips to 6-year low

  More worries for Nigeria as oil dips to 6-year low

Nigeria’s principal source of foreign exchange hit a 6-year-low on Thursday as it fell by 4% on the international market

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OPEC predicts higher oil demand in 2015

  OPEC predicts higher oil demand in 2015

The Organisation of Petroleum Exporting Countries (OPEC) raised output by 100,700 barrels a day to 31.5 million last month, the

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OPEC predicts ‘improved oil market’ in 2016

  OPEC predicts ‘improved oil market’ in 2016

The Organisation of the Petroleum Exporting Countries (OPEC) has predicted that the oil market should be more balanced next year

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Nigerian crude oil prices ‘hit 10-year low’

  Nigerian crude oil prices ‘hit 10-year low’

The official prices of the Nigerian crude oil have hit the lowest in at least 10 years, with excess supply

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OPEC keeps oil production limit at 30 mln barrels daily

  OPEC keeps oil production limit at 30 mln barrels daily

The Organisation of Petroleum Exporting Countries (OPEC) said it has decided to maintain its maximum production limit at 30 million

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Nigeria still retains OPEC presidency, says NNPC

  Nigeria still retains OPEC presidency, says NNPC

Nigeria still retains its seat as the president of the Organisation of Petroleum Exporting Countries (OPEC), a competent official of

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