Tag: OPEC
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OPEC postpones ministerial meeting to November 30 in Vienna
Organization of Petroleum exporting Countries OPEC+alliance has postponed the ministerial meeting initially fixed for Saturday and Sunday, November 25 and 26, 2023, to Thursday, November 30, 2023.
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How Nigeria’s economy grew by 2.4% in Q1 – OPEC
The Organisation of the Petroleum Exporting Countries (OPEC) has said that Nigeria’s economic growth in the first quarter of 2023 (1Q23) stood at 2.4 per cent year-on-year (y-o-y).
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Dollar index decreases by 1.6% in July – OPEC
The Organisation of the Petroleum Exporting Countries (OPEC) has said the U.S. dollar index decreased by 1.6 per cent month-on-month (m-o-m) in July, erasing gains from the previous period.
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OPEC expresses optimism on oil demand growth in 2024
The Organisation of Petroleum Exporting Countries (OPEC), has expressed optimism in oil demand growth in 2024 despite the current market slowdown. According to sources close to OPEC, the body will likely maintain an upbeat view on oil demand growth for next year by the time it publishes its first outlook later this month, predicting a…
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Oil Markets Rebound as Traders Seek Cover, but US Debt Concerns Limit Gains
In early Asian trade on Friday, oil markets made a partial recovery as traders engaged in short-covering activities before the weekend. However, the gains were limited by uncertainties surrounding the U.S. debt ceiling and renewed fears of a regional banking crisis in the United States. Interestingly, the oil market largely disregarded the global oil demand…
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Humans getting worn out like clothes – By Owei Lakemfa
THE world is changing at a Humans getting worn out like clothes dizzying pace. Two powerful blocs that can determine the future of humanity are rapidly solidifying. The North Atlantic Treaty Organisation, NATO, donning military fatigue, leading in the arms race with a mindset to conquer, is digging in to preserve the old world order.
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4 startling revelations that shook the oil sector in 2022
The Oil and Gas sector has remained the mainstay of the Nigerian economy despite Government’s best efforts at diversification into Agriculture and Mining in order to manage volatility and provide a more stable path for equitable growth and development. In 2022, Nigerians experienced the results of a supply shock with a tight oil supply and…
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OPEC: Nigeria drops in ranking, now 7th oil producing nation
Organization of the Petroleum Exporting Countries (OPEC) has ranked Nigeria 7th in crude oil production for the month of November. The ranking was arrived at after the country’s production output and monthly review for October.
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Leadership is key to unlocking Nigeria’s growth potential – By Dakuku Peterside
Last week, this column discussed the need to rethink productivity and economic growth in Nigeria based on the presentation by foremost Economist Dr Ayo Teriba. This week, we shall look at leadership’s role in engendering a new economic growth model to give our country a leap forward.
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Crude oil production: Angola, Libya maintain lead over Nigeria
Angola and Libya have for the second consecutive month maintained their lead over Nigeria as Africa’s highest crude oil producers, according to a report by the Organisation of the Petroleum Exporting Countries (OPEC).