OPEC – InfoStride News https://www.theinfostride.com Breaking News, Nigeria News and Top Stories Tue, 24 Feb 2026 13:40:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://www.theinfostride.com/wp-content/uploads/2015/07/cropped-The-InfoStride-Favicon-150x150.png OPEC – InfoStride News https://www.theinfostride.com 32 32 Nigeria’s Crude Production Averages 1.46mbpd, Falls Short of OPEC Target https://www.theinfostride.com/nigerias-crude-production-averages-1-46mbpd-falls-short-of-opec-target/ https://www.theinfostride.com/nigerias-crude-production-averages-1-46mbpd-falls-short-of-opec-target/#respond Tue, 24 Feb 2026 14:55:39 +0000 https://www.theinfostride.com/?p=474595 Nigeria’s crude oil output averaged about 1.46 million barrels per day, remaining below the production benchmark allocated by the Organisation of the Petroleum Exporting Countries, according to recent industry data. The shortfall highlights persistent operational and structural challenges in the country’s upstream oil sector, despite ongoing efforts to boost production and meet OPEC targets. The [...]

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]]> https://www.theinfostride.com/nigerias-crude-production-averages-1-46mbpd-falls-short-of-opec-target/feed/ 0 NUPRC Explains Why Nigeria Missed OPEC Production Quota in August https://www.theinfostride.com/nuprc-explains-why-nigeria-missed-opec-production-quota-in-august/ https://www.theinfostride.com/nuprc-explains-why-nigeria-missed-opec-production-quota-in-august/#respond Wed, 28 Jan 2026 19:19:00 +0000 https://www.theinfostride.com/?p=466977 Nigeria’s oil output in August 2025 fell short of the Organization of Petroleum Exporting Countries (OPEC) quota, with the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) confirming that an unscheduled maintenance exercise at a key oil facility was the major reason behind the decline. The country, which had consistently met or slightly exceeded its quota in [...]

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]]> https://www.theinfostride.com/nuprc-explains-why-nigeria-missed-opec-production-quota-in-august/feed/ 0 Nigeria Achieves 96% of OPEC Oil Production Quota in August https://www.theinfostride.com/nigeria-achieves-96-of-opec-oil-production-quota-in-august/ https://www.theinfostride.com/nigeria-achieves-96-of-opec-oil-production-quota-in-august/#respond Wed, 28 Jan 2026 19:00:42 +0000 https://www.theinfostride.com/?p=466934 Nigeria’s crude oil production reached a major milestone in August 2025, as the country achieved 96 percent of its Organization of Petroleum Exporting Countries (OPEC) production quota. This marks one of the strongest outputs in recent months and highlights the government’s ongoing efforts to stabilize production, curb theft, and restore confidence in the oil sector. [...]

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]]> https://www.theinfostride.com/nigeria-achieves-96-of-opec-oil-production-quota-in-august/feed/ 0 OPEC’s April 2025 Oil Output Decline: Key Factors and Market Implications https://www.theinfostride.com/opecs-april-2025-oil-output-decline-key-factors-and-market-implications/ https://www.theinfostride.com/opecs-april-2025-oil-output-decline-key-factors-and-market-implications/#respond Mon, 12 Jan 2026 22:02:18 +0000 https://www.theinfostride.com/?p=410268 In April 2025, the Organization of the Petroleum Exporting Countries (OPEC) experienced a slight reduction in oil production, averaging 26.60 million barrels per day (bpd), a decrease of 30,000 bpd from March. This decline occurred despite OPEC+’s planned output increase of 411,000 bpd for the second quarter of 2025. The discrepancy highlights ongoing challenges in [...]

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]]> https://www.theinfostride.com/opecs-april-2025-oil-output-decline-key-factors-and-market-implications/feed/ 0 Nigeria’s Crude Oil Production Increased by 35,000 Barrels Per Day in November, Report Shows https://www.theinfostride.com/nigerias-crude-oil-production-increased-by-35000-barrels-per-day-in-november-report-shows/ https://www.theinfostride.com/nigerias-crude-oil-production-increased-by-35000-barrels-per-day-in-november-report-shows/#respond Fri, 12 Dec 2025 13:23:43 +0000 https://www.theinfostride.com/?p=473343 Nigeria’s crude oil production recorded a notable increase of about 35,000 barrels per day (bpd) in November, according to a recent industry report highlighting gradual improvements in output despite lingering security and operational challenges in the oil-producing regions. The rise in production has renewed optimism about the country’s ability to sustain recovery in its upstream [...]

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]]> https://www.theinfostride.com/nigerias-crude-oil-production-increased-by-35000-barrels-per-day-in-november-report-shows/feed/ 0 Production Outages in Nigeria and Other Members Push OPEC Crude Output Down in November https://www.theinfostride.com/production-outages-in-nigeria-and-other-members-push-opec-crude-output-down-in-november/ https://www.theinfostride.com/production-outages-in-nigeria-and-other-members-push-opec-crude-output-down-in-november/#respond Sat, 06 Dec 2025 13:56:11 +0000 https://www.theinfostride.com/?p=472980 Crude oil production among OPEC member states declined in November, driven primarily by production outages in Nigeria and disruptions across other member nations. The reduction has raised concerns about global oil supply stability, even as international markets continue to monitor the effects of shifting production levels on crude prices and energy security. Analysts say the [...]

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]]> https://www.theinfostride.com/production-outages-in-nigeria-and-other-members-push-opec-crude-output-down-in-november/feed/ 0 OPEC+ Raises Oil Output by 137,000 bpd Amid Market Uncertainty https://www.theinfostride.com/opec-raises-oil-output-by-137000-bpd-amid-market-uncertainty/ https://www.theinfostride.com/opec-raises-oil-output-by-137000-bpd-amid-market-uncertainty/#respond Mon, 06 Oct 2025 12:40:09 +0000 https://www.theinfostride.com/?p=468389 The Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, have announced a modest increase of 137,000 barrels per day in oil production beginning in November 2025. This decision reflects the group’s cautious approach to managing global oil supply amid lingering market uncertainties and fluctuating demand patterns. The output hike forms [...]

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]]> https://www.theinfostride.com/opec-raises-oil-output-by-137000-bpd-amid-market-uncertainty/feed/ 0 Global Oil Prices Slip Amid U.S. Government Shutdown Fears and OPEC Output Plans https://www.theinfostride.com/global-oil-prices-slip-amid-u-s-government-shutdown-fears-and-opec-output-plans/ https://www.theinfostride.com/global-oil-prices-slip-amid-u-s-government-shutdown-fears-and-opec-output-plans/#respond Thu, 02 Oct 2025 13:25:38 +0000 https://www.theinfostride.com/?p=468081 Global oil markets witnessed fresh volatility as crude prices dipped following renewed concerns over a possible U.S. government shutdown and reports that the Organization of the Petroleum Exporting Countries (OPEC) is preparing to boost production in the coming months. The twin developments have triggered fresh uncertainties for traders and investors, adding to the complex dynamics [...]

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]]> https://www.theinfostride.com/global-oil-prices-slip-amid-u-s-government-shutdown-fears-and-opec-output-plans/feed/ 0 OPEC raises alarm over $14.9 trillion shortfall in global upstream oil investments https://www.theinfostride.com/opec-raises-alarm-over-14-9-trillion-shortfall-in-global-upstream-oil-investments/ https://www.theinfostride.com/opec-raises-alarm-over-14-9-trillion-shortfall-in-global-upstream-oil-investments/#respond Mon, 14 Jul 2025 14:26:41 +0000 https://www.theinfostride.com/?p=461969 The Organization of the Petroleum Exporting Countries (OPEC) has issued a stark warning about a projected $14.9 trillion shortfall in upstream oil and gas investments through 2045, a development that could significantly disrupt global energy security and destabilize supply chains in the coming decades. The projection comes as governments and investors around the world increasingly [...]

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]]> https://www.theinfostride.com/opec-raises-alarm-over-14-9-trillion-shortfall-in-global-upstream-oil-investments/feed/ 0 NNPC’s Suspension of Crude Supply to Dangote Refinery Impacts OPEC Output https://www.theinfostride.com/nnpcs-suspension-of-crude-supply-to-dangote-refinery-impacts-opec-output/ https://www.theinfostride.com/nnpcs-suspension-of-crude-supply-to-dangote-refinery-impacts-opec-output/#respond Wed, 09 Apr 2025 08:01:08 +0000 https://www.theinfostride.com/?p=407702 The Nigerian National Petroleum Company (NNPC) Limited’s recent suspension of crude oil deliveries to the Dangote Refinery has significantly influenced Nigeria’s oil production figures, contributing to a decline in the Organization of the Petroleum Exporting Countries’ (OPEC) overall output. Background of the Suspension In October 2024, NNPC initiated a naira-for-crude arrangement, allowing local refiners, including [...]

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]]> https://www.theinfostride.com/nnpcs-suspension-of-crude-supply-to-dangote-refinery-impacts-opec-output/feed/ 0 Dangote Refinery’s Petrol Production Impacts European Markets, Says OPEC https://www.theinfostride.com/dangote-refinerys-petrol-production-impacts-european-markets-says-opec/ https://www.theinfostride.com/dangote-refinerys-petrol-production-impacts-european-markets-says-opec/#respond Thu, 16 Jan 2025 13:32:54 +0000 https://www.theinfostride.com/?p=400775 The commencement of petrol production at the Dangote Refinery in Nigeria is beginning to reshape global energy dynamics, with significant effects on European fuel markets, according to a recent OPEC report. The refinery, touted as Africa’s largest, has increased regional fuel supply, reducing the continent’s dependence on imported refined petroleum products from Europe. The Dangote [...]

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]]> https://www.theinfostride.com/dangote-refinerys-petrol-production-impacts-european-markets-says-opec/feed/ 0 Nigeria Exceeds OPEC Oil Production Quota, Says NNPC https://www.theinfostride.com/nigeria-exceeds-opec-oil-production-quota-says-nnpc/ https://www.theinfostride.com/nigeria-exceeds-opec-oil-production-quota-says-nnpc/#respond Tue, 26 Nov 2024 19:02:39 +0000 https://www.theinfostride.com/?p=395789 The Nigerian National Petroleum Company Limited (NNPC) has revealed that the country’s crude oil production has surpassed the quota allocated by the Organization of Petroleum Exporting Countries (OPEC). This development comes amidst ongoing efforts to stabilize and boost Nigeria’s oil output following years of disruptions caused by theft, sabotage, and underinvestment. Surpassing Expectations Nigeria’s OPEC [...]

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]]> https://www.theinfostride.com/nigeria-exceeds-opec-oil-production-quota-says-nnpc/feed/ 0 Nigeria’s Petrol Imports Soar in October, Reports OPEC https://www.theinfostride.com/nigerias-petrol-imports-soar-in-october-reports-opec/ https://www.theinfostride.com/nigerias-petrol-imports-soar-in-october-reports-opec/#respond Sun, 17 Nov 2024 12:02:23 +0000 https://www.theinfostride.com/?p=394605 Nigeria witnessed a sharp rise in petrol imports in October, according to a recent report by the Organization of the Petroleum Exporting Countries (OPEC). This increase highlights the nation’s growing demand for refined petroleum products, despite challenges in domestic refining capacity. The report revealed that Nigeria’s petrol imports surged by a significant margin compared to [...]

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]]> https://www.theinfostride.com/nigerias-petrol-imports-soar-in-october-reports-opec/feed/ 0 OPEC eyes Namibia as African country plans oil production in 2030 https://www.theinfostride.com/opec-eyes-namibia-as-african-country-plans-oil-production-in-2030/ https://www.theinfostride.com/opec-eyes-namibia-as-african-country-plans-oil-production-in-2030/#respond Sat, 20 Apr 2024 18:41:55 +0000 https://www.theinfostride.com/?p=376203 After losing Angola and other key players, the Organization of Petroleum Exporting Countries (OPEC) has set its eyes on Namibia for possible membership after a significant amount of oil was discovered within its shores.   The latest discovery of oil in Namibia would easily make the country the fourth largest oil exporter by output by the next decade, [...]

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]]> https://www.theinfostride.com/opec-eyes-namibia-as-african-country-plans-oil-production-in-2030/feed/ 0 Nigeria’s functional oil drilling rigs increases to 16 – OPEC https://www.theinfostride.com/nigerias-functional-oil-drilling-rigs-increases-to-16-opec/ https://www.theinfostride.com/nigerias-functional-oil-drilling-rigs-increases-to-16-opec/#respond Sun, 17 Mar 2024 13:24:11 +0000 https://www.theinfostride.com/?p=373278 The number of functional oil drilling rigs across the country increased marginally to 16 in February, data from the latest March 2024 Monthly Oil Market Report of the Organisation of Petroleum Exporting Countries has shown. Figures released by OPEC indicated that the country’s oil rigs increased from 15 in January to 16 in February, a development [...]

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]]> https://www.theinfostride.com/nigerias-functional-oil-drilling-rigs-increases-to-16-opec/feed/ 0 Nigeria’s Crude Oil Production Hits 1.4 Million Barrels per Day in December, Reports OPEC https://www.theinfostride.com/nigerias-crude-oil-production-hits-1-4-million-barrels-per-day-in-december-reports-opec/ https://www.theinfostride.com/nigerias-crude-oil-production-hits-1-4-million-barrels-per-day-in-december-reports-opec/#respond Wed, 17 Jan 2024 21:20:00 +0000 https://www.theinfostride.com/?p=367672 Nigeria’s crude oil production experienced a notable increase, reaching 1.4 million barrels per day in December, according to data from the Organization of the Petroleum Exporting Countries (OPEC). This surge in production reflects positive developments in the country’s oil sector and may have implications for Nigeria’s economic outlook and its position in the global oil [...]

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]]> https://www.theinfostride.com/nigerias-crude-oil-production-hits-1-4-million-barrels-per-day-in-december-reports-opec/feed/ 0 Nigeria Stays OPEC Strong: Petroleum Minister Upholds Commitment Amid Production Cuts https://www.theinfostride.com/nigeria-stays-opec-strong-petroleum-minister-upholds-commitment-amid-production-cuts/ https://www.theinfostride.com/nigeria-stays-opec-strong-petroleum-minister-upholds-commitment-amid-production-cuts/#respond Wed, 27 Dec 2023 22:10:03 +0000 https://www.theinfostride.com/?p=365743 The commitment of Nigeria to the Organization of the Petroleum Exporting Countries (OPEC) remains steadfast, as reiterated by the Minister of State for Petroleum, Heineken Lokpobiri. This affirmation comes in the wake of Angola, the second-largest oil producer in Africa, deciding to exit the cartel. In a statement issued on Thursday, Lokpobiri emphasized that Nigeria [...]

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]]> https://www.theinfostride.com/nigeria-stays-opec-strong-petroleum-minister-upholds-commitment-amid-production-cuts/feed/ 0 Angola Waves Goodbye to OPEC: National Interests Take Center Stage https://www.theinfostride.com/angola-waves-goodbye-to-opec-national-interests-take-center-stage/ https://www.theinfostride.com/angola-waves-goodbye-to-opec-national-interests-take-center-stage/#respond Thu, 21 Dec 2023 20:05:54 +0000 https://www.theinfostride.com/?p=365159 Angola, a crucial member of the Organization of the Petroleum Exporting Countries (OPEC) since 2007, has formally expressed its intention to withdraw from the organization. This strategic move is a direct response to what Angola perceives as a fundamental misalignment between its national interests and the production quotas imposed by OPEC, illuminating the challenges within [...]

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]]> https://www.theinfostride.com/angola-waves-goodbye-to-opec-national-interests-take-center-stage/feed/ 0 OPEC Issues Bold Call: Reject Fossil Fuel Phase-Out at COP28, Stresses Member Unity https://www.theinfostride.com/opec-issues-bold-call-reject-fossil-fuel-phase-out-at-cop28-stresses-member-unity/ https://www.theinfostride.com/opec-issues-bold-call-reject-fossil-fuel-phase-out-at-cop28-stresses-member-unity/#respond Mon, 11 Dec 2023 09:46:24 +0000 https://www.theinfostride.com/?p=363915 In a pivotal development at the ongoing COP28, the Organization of Petroleum Exporting Countries (OPEC) is urging its member nations to resist the calls for a phase-out of fossil fuels. In a letter addressed to OPEC members, Haitham Al-Ghais, the Secretary General of OPEC, emphasized the need to prioritize emission reduction strategies over singling out [...]

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]]> https://www.theinfostride.com/opec-issues-bold-call-reject-fossil-fuel-phase-out-at-cop28-stresses-member-unity/feed/ 0 Nigeria and Angola Defy OPEC with Rejection of Oil Quota Reduction https://www.theinfostride.com/nigeria-and-angola-defy-opec-with-rejection-of-oil-quota-reduction/ https://www.theinfostride.com/nigeria-and-angola-defy-opec-with-rejection-of-oil-quota-reduction/#respond Wed, 29 Nov 2023 20:51:28 +0000 https://www.theinfostride.com/?p=362678 Nigeria and Angola have resisted a proposed reduction in their crude oil production quotas by the Organization of the Petroleum Exporting Countries (OPEC), as reported by InfoStride News. The ongoing deadlock has led to a delay in a critical meeting scheduled for November 30, 2023, where OPEC and its partners need to finalize production policy [...]

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]]> https://www.theinfostride.com/nigeria-and-angola-defy-opec-with-rejection-of-oil-quota-reduction/feed/ 0 OPEC Members Embrace 4 Cutting-Edge Technologies for Emission Reduction Investments https://www.theinfostride.com/opec-members-embrace-4-cutting-edge-technologies-for-emission-reduction-investments/ https://www.theinfostride.com/opec-members-embrace-4-cutting-edge-technologies-for-emission-reduction-investments/#respond Mon, 27 Nov 2023 22:28:09 +0000 https://www.theinfostride.com/?p=362309 InfoStride News reported on November 27 that the Organization of Petroleum Exporting Countries (OPEC) is actively pursuing emissions reduction through four key technologies. In a statement titled “Whose Moment of Truth?” OPEC challenged the International Energy Agency’s (IEA) assertion that the oil and gas industry faces a critical juncture in choosing between clean energy and [...]

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]]> https://www.theinfostride.com/opec-members-embrace-4-cutting-edge-technologies-for-emission-reduction-investments/feed/ 0 OPEC+ Delays Policy Meeting to November 30 amid Global Energy Dynamics https://www.theinfostride.com/opec-delays-policy-meeting-to-november-30-amid-global-energy-dynamics/ https://www.theinfostride.com/opec-delays-policy-meeting-to-november-30-amid-global-energy-dynamics/#respond Thu, 23 Nov 2023 18:42:45 +0000 https://www.theinfostride.com/?p=361795 The anticipated ministerial meeting of the OPEC+ alliance, initially scheduled for November 25 and 26, 2023, in Vienna, has encountered a shift in dates, as disclosed by the Vienna-based agency of the Petroleum Exporting Countries on its official website. According to the announcement, the 187th Meeting of the OPEC Conference, the 51st Meeting of the [...]

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]]> https://www.theinfostride.com/opec-delays-policy-meeting-to-november-30-amid-global-energy-dynamics/feed/ 0 Nigeria Claims Crown as Africa’s October 2023 Top Crude Oil Producer, Declares OPEC https://www.theinfostride.com/nigeria-claims-crown-as-africas-october-2023-top-crude-oil-producer-declares-opec/ https://www.theinfostride.com/nigeria-claims-crown-as-africas-october-2023-top-crude-oil-producer-declares-opec/#respond Tue, 14 Nov 2023 17:21:02 +0000 https://www.theinfostride.com/?p=360488 Infostride News reports that Nigeria has maintained its position as Africa’s leading crude oil producer for October 2023, according to the monthly oil market report released by the Organization of Petroleum Exporting Countries (OPEC) on November 13, 2023. The report highlights the oil production figures, excluding condensate production, from the top four oil producers in [...]

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]]> https://www.theinfostride.com/nigeria-claims-crown-as-africas-october-2023-top-crude-oil-producer-declares-opec/feed/ 0 OPEC Predicts Potential Long-Term Refinery Shutdowns in Africa https://www.theinfostride.com/opec-predicts-potential-long-term-refinery-shutdowns-in-africa/ https://www.theinfostride.com/opec-predicts-potential-long-term-refinery-shutdowns-in-africa/#respond Fri, 13 Oct 2023 08:28:55 +0000 https://www.theinfostride.com/?p=356917 The Organization of Petroleum Exporting Countries (OPEC) has released its World Oil Outlook, and one of the notable revelations from this report is the anticipation of long-term refinery closures in Africa. This development carries significant implications for the region’s oil and energy sector. OPEC’s report, launched in Saudi Arabia on October 9, paints a complex [...]

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]]> https://www.theinfostride.com/opec-predicts-potential-long-term-refinery-shutdowns-in-africa/feed/ 0 Stakeholders to discuss Nigeria’s upstream, gas market. https://www.theinfostride.com/stakeholders-to-discuss-nigerias-upstream-gas-market/ https://www.theinfostride.com/stakeholders-to-discuss-nigerias-upstream-gas-market/#respond Sun, 27 Mar 2022 00:11:24 +0000 https://www.theinfostride.com/?p=321499 The Organisation of Petroleum Exporting Countries (OPEC), Ministry of Petroleum Resources, Nigerian National Petroleum Company (NNPC) Limited and other stakeholders are set to canvass a diversified market for Nigeria’s huge gas resources and woo investors into the upstream segment. Secretary-General of OPEC, Sanusi Barkindo; Minister of State for Petroleum Resources, Timipre Sylva and the Chief [...]

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]]> https://www.theinfostride.com/stakeholders-to-discuss-nigerias-upstream-gas-market/feed/ 0 Nigeria’s rig spikes as OPEC warns of uncertainty from impact of Ukraine conflict https://www.theinfostride.com/nigerias-rig-spikes-as-opec-warns-of-uncertainty-from-impact-of-ukraine-conflict/ https://www.theinfostride.com/nigerias-rig-spikes-as-opec-warns-of-uncertainty-from-impact-of-ukraine-conflict/#respond Thu, 17 Mar 2022 14:59:36 +0000 https://www.theinfostride.com/?p=320747 The Organisation of Petroleum Exporting Countries (OPEC) has kept its key oil market projections for 2022 unchanged, but it expects to adjust the forecasts in the coming weeks when there is more clarity on the impact of the conflict in Ukraine. “Given the latest developments, which are still only beginning to unfold, it is clear [...]

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]]> https://www.theinfostride.com/nigerias-rig-spikes-as-opec-warns-of-uncertainty-from-impact-of-ukraine-conflict/feed/ 0 UAE reaffirms committment to OPEC+ agreement https://www.theinfostride.com/uae-reaffirms-committment-to-opec-agreement/ https://www.theinfostride.com/uae-reaffirms-committment-to-opec-agreement/#respond Thu, 10 Mar 2022 15:08:50 +0000 https://www.theinfostride.com/?p=320136 The United Arab Emirates on Thursday reaassured its commitment to OPEC+ alliance agreements, a day after an envoy said it would urge the oil cartel to boost output. “The UAE is committed to the OPEC+ agreement and its existing monthly production adjustment mechanism,” Energy Minister Suhail al-Mazrouei wrote on Twitter. “The UAE believes in the [...]

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]]> https://www.theinfostride.com/uae-reaffirms-committment-to-opec-agreement/feed/ 0 Nigeria set to pump 1.7mbpd in February as OPEC+ maintains output policy https://www.theinfostride.com/nigeria-set-to-pump-1-7mbpd-in-february-as-opec-maintains-output-policy/ https://www.theinfostride.com/nigeria-set-to-pump-1-7mbpd-in-february-as-opec-maintains-output-policy/#respond Wed, 05 Jan 2022 22:39:34 +0000 https://www.theinfostride.com/?p=316114 The Organisation of Petroleum Exporting Countries (OPEC) and its allies announced yesterday that they will return 400,000 barrels per day to the global oil market in the month of February. The alliance, therefore, decided to stick with its plan on gradual output increase first reached in April 2021. Oil futures rose yesterday, with global benchmark [...]

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]]> https://www.theinfostride.com/nigeria-set-to-pump-1-7mbpd-in-february-as-opec-maintains-output-policy/feed/ 0 OPEC+ plans to gradually boost output, despite Omicron https://www.theinfostride.com/opec-plans-to-gradually-boost-output-despite-omicron/ https://www.theinfostride.com/opec-plans-to-gradually-boost-output-despite-omicron/#respond Tue, 04 Jan 2022 22:37:50 +0000 https://www.theinfostride.com/?p=316049 OPEC+ announced on Tuesday that it is sticking with its plan to gradually boost oil output next month, as the group brushed off concerns about Omicron’s impact on global crude demand. The 23-nation member group encompassing Saudi Arabia-led OPEC and the cartel’s allies led by Russia agreed at the end of its meeting on Tuesday [...]

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]]> https://www.theinfostride.com/opec-plans-to-gradually-boost-output-despite-omicron/feed/ 0 Nigeria’s rig count goes down as OPEC lowers 2021 oil demand outlook https://www.theinfostride.com/nigerias-rig-count-goes-down-as-opec-lowers-2021-oil-demand-outlook/ https://www.theinfostride.com/nigerias-rig-count-goes-down-as-opec-lowers-2021-oil-demand-outlook/#respond Sat, 13 Nov 2021 21:29:44 +0000 https://www.theinfostride.com/?p=312670 Confirming records low production and inability of the country to meet its crude oil quota, the latest monthly report of the Organisation of Petroleum Exporting Countries (OPEC) has shown that Nigeria’s rig count slumped to nine from 11. Despite the Federal Government’s readiness to pump more oil and increase its acreage, operational setbacks and sabotage [...]

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]]> https://www.theinfostride.com/nigerias-rig-count-goes-down-as-opec-lowers-2021-oil-demand-outlook/feed/ 0 Oil prices drops as OPEC+ holds on to monthly output increase https://www.theinfostride.com/oil-prices-drops-as-opec-holds-on-to-monthly-output-increase/ https://www.theinfostride.com/oil-prices-drops-as-opec-holds-on-to-monthly-output-increase/#respond Mon, 08 Nov 2021 18:23:44 +0000 https://www.theinfostride.com/?p=312305 Crude oil prices reduces as the Organisation of the Petroleum Exporting Countries and its allies known as OPEC+ collaborates to continue with the current output plan. Brent crude futures traded at $81.88 a barrel while US West Texas Intermediate (WTI) crude futures shed 0.17 per cent to $80.29 a barrel at the end of the [...]

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]]> https://www.theinfostride.com/oil-prices-drops-as-opec-holds-on-to-monthly-output-increase/feed/ 0 OPEC+ members says NO to Joe Biden’s calls to boost oil output https://www.theinfostride.com/opec-members-says-no-to-joe-bidens-calls-to-boost-oil-output/ https://www.theinfostride.com/opec-members-says-no-to-joe-bidens-calls-to-boost-oil-output/#respond Tue, 02 Nov 2021 21:13:46 +0000 https://www.theinfostride.com/?p=311887 OPEC+ headed for a clash with the U.S. as more members said No to  President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices. On Monday, Kuwait said the cartel should stick with its plan to increase output gradually because oil markets were well-balanced. That followed similar statements [...]

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]]> https://www.theinfostride.com/opec-members-says-no-to-joe-bidens-calls-to-boost-oil-output/feed/ 0 OPEC scribe suggests deployment of technology to tackle carbon emissions https://www.theinfostride.com/opec-scribe-suggests-deployment-of-technology-to-tackle-carbon-emissions/ https://www.theinfostride.com/opec-scribe-suggests-deployment-of-technology-to-tackle-carbon-emissions/#respond Thu, 21 Oct 2021 19:42:38 +0000 https://www.theinfostride.com/?p=310900 The Secretary-General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Sanusi Barkindo, has suggested the implementation and use of modern technologies such as the Carbon Capture Utilisation Storage (CCUS) rather than pushing for a wholesale abandonment of fossil fuels. The OPEC chief stated that current conversations surrounding the transition from hydrocarbons were being driven [...]

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]]> https://www.theinfostride.com/opec-scribe-suggests-deployment-of-technology-to-tackle-carbon-emissions/feed/ 0 OPEC lowers growth forecast for global oil demand in 2021. https://www.theinfostride.com/opec-lowers-growth-forecast-for-global-oil-demand-in-2021/ https://www.theinfostride.com/opec-lowers-growth-forecast-for-global-oil-demand-in-2021/#respond Wed, 13 Oct 2021 21:58:54 +0000 https://www.theinfostride.com/?p=310311 OPEC in its new report said that the global demand for crude oil in the current year is expected to increase by an average of 5.8 million barrels per day as against the initial forecast of a growth of 5.96 million barrels per day as suggested by OPEC experts. According to NAN, this disclosure is [...]

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]]> https://www.theinfostride.com/opec-lowers-growth-forecast-for-global-oil-demand-in-2021/feed/ 0 Doubts running Nigeria’s production despite OPEC projection https://www.theinfostride.com/doubts-running-nigerias-production-despite-opec-projection/ https://www.theinfostride.com/doubts-running-nigerias-production-despite-opec-projection/#respond Tue, 14 Sep 2021 16:36:42 +0000 https://www.theinfostride.com/?p=308038 OPEC’s latest Monthly Oil Market Report (MOMR), published yesterday, showed that Nigeria pumped 1.27 million barrels per day (mbpd) last month, lower than 1.38mbpd in July. Oil has continued to trade above $70 a barrel, with Nigeria unable to take advantage of the rally due to fuel subsidy and poor production capacity. According to the [...]

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]]> https://www.theinfostride.com/doubts-running-nigerias-production-despite-opec-projection/feed/ 0 Nigeria’s sweet crude hopeful at $75 despite oil prices falling to $69 https://www.theinfostride.com/nigerias-sweet-crude-hopeful-at-75-despite-oil-prices-falling-to-69/ https://www.theinfostride.com/nigerias-sweet-crude-hopeful-at-75-despite-oil-prices-falling-to-69/#respond Tue, 20 Jul 2021 22:44:18 +0000 https://www.theinfostride.com/?p=301428 The decision by the Organisation of Oil Exporting Countries (OPEC) to pump 400,000 barrels per day of crude oil into the market on a monthly basis from August, yesterday pushed oil price to a record low of $69 per barrel, but Nigeria’s sweet crude, Bonny Light remains bullish at $75.23. With gradual stability, notwithstanding the [...]

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]]> https://www.theinfostride.com/nigerias-sweet-crude-hopeful-at-75-despite-oil-prices-falling-to-69/feed/ 0 Nigeria’s oil production hits 1,829 mbd as OPEC approves increase https://www.theinfostride.com/nigerias-oil-production-hits-1829-mb-d-as-opec-approves-increase/ https://www.theinfostride.com/nigerias-oil-production-hits-1829-mb-d-as-opec-approves-increase/#respond Sun, 18 Jul 2021 18:50:24 +0000 https://www.theinfostride.com/?p=301173 The Organization of the Petroleum Exporting Countries (OPEC) rose from its 19th virtual meeting with members and non-OPEC members (ONOMM) on Sunday, with a decision to adjust upward their overall production by 0.4 mb/d on a monthly basis starting August 2021 until phasing out the 5.8 mb/d production adjustment. The ONOMM, will in December 2021, [...]

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]]> https://www.theinfostride.com/nigerias-oil-production-hits-1829-mb-d-as-opec-approves-increase/feed/ 0 OPEC upward adjustment on crude oil production starts August https://www.theinfostride.com/opec-upward-adjustment-on-crude-oil-production-starts-august/ https://www.theinfostride.com/opec-upward-adjustment-on-crude-oil-production-starts-august/#respond Sun, 18 Jul 2021 18:43:07 +0000 https://www.theinfostride.com/?p=301168 The Organisation of Petroleum Exporting Countries and its allies known as OPEC+ have decided to adjust upwards their overall production by 0.4 million barrels per day (mbd). The decision was taken at the end of the 19th OPEC and non-OPEC Ministerial Meeting on Sunday. A statement issued after meeting said the upward adjustment would take [...]

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]]> https://www.theinfostride.com/opec-upward-adjustment-on-crude-oil-production-starts-august/feed/ 0 Oil price tumbles to $74 amid OPEC+ crisis https://www.theinfostride.com/oil-price-tumbles-to-74-amid-opec-crisis/ https://www.theinfostride.com/oil-price-tumbles-to-74-amid-opec-crisis/#respond Wed, 07 Jul 2021 00:16:48 +0000 https://www.theinfostride.com/?p=299831 The international oil benchmark, Brent crude, pared some of its recent gains on Tuesday, after the Organisation of the Petroleum Exporting Countries and its allies cancelled a meeting due to clashes over plan to increase supply to meet rising global demand. Offshore or Onshore Oil Rig Brent, against which Nigeria’s crude oil is priced, plunged [...]

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]]> https://www.theinfostride.com/oil-price-tumbles-to-74-amid-opec-crisis/feed/ 0 OPEC seen pumping more oil in 2021, keeping some cuts through 2022 https://www.theinfostride.com/opec-seen-pumping-more-oil-in-2021-keeping-some-cuts-through-2022/ https://www.theinfostride.com/opec-seen-pumping-more-oil-in-2021-keeping-some-cuts-through-2022/#respond Thu, 01 Jul 2021 23:39:33 +0000 https://www.theinfostride.com/?p=299214 OPEC+ is moving towards gradually adding about 2 million barrels per day (bpd) to the oil market from August to December, an OPEC+ source told Reuters as the group eases back on output curbs amid a recovering global economy and an oil price rally. Monthly increases would be 0.4 million bpd under the plan, the [...]

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]]> https://www.theinfostride.com/opec-seen-pumping-more-oil-in-2021-keeping-some-cuts-through-2022/feed/ 0 OPEC scribe: Coronavirus pandemic increased global debt by $24 trillion https://www.theinfostride.com/opec-scribe-coronavirus-pandemic-increased-global-debt-by-24-trillion/ https://www.theinfostride.com/opec-scribe-coronavirus-pandemic-increased-global-debt-by-24-trillion/#respond Fri, 25 Jun 2021 22:43:34 +0000 https://www.theinfostride.com/?p=298521 The Organisation of Petroleum Exporting Countries (OPEC) has said the impact of the COVID-19 pandemic increased global debt by $24 trillion, taking it to $281 trillion during the crisis.   Speaking at the 135th meeting of the Economic Commission Board (ECB) of OPEC, the cartel’s Secretary-General, Dr. Sanusi Barkindo, urged member countries to be wary [...]

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]]> https://www.theinfostride.com/opec-scribe-coronavirus-pandemic-increased-global-debt-by-24-trillion/feed/ 0 OPEC outlines events to mark 50th year of Nigeria’s membership. https://www.theinfostride.com/opec-outlines-events-to-mark-50th-year-of-nigerias-membership/ https://www.theinfostride.com/opec-outlines-events-to-mark-50th-year-of-nigerias-membership/#respond Wed, 23 Jun 2021 11:48:47 +0000 https://www.theinfostride.com/?p=298225 The Organisation of Petroleum Exporting Countries (OPEC) will on July 12 mark the 50th anniversary of Nigeria’s membership of the body. OPEC’s Secretary-General, Dr. Mohammad Barkindo, made the disclosure in a statement on Tuesday. Nigeria, officially became the 11th Member of OPEC on July 12, 1971. Barkindo said that day has been of historic importance [...]

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]]> https://www.theinfostride.com/opec-outlines-events-to-mark-50th-year-of-nigerias-membership/feed/ 0 OPEC commits to steady and stable global oil market https://www.theinfostride.com/opec-commits-to-steady-and-stable-global-oil-market/ https://www.theinfostride.com/opec-commits-to-steady-and-stable-global-oil-market/#respond Fri, 04 Jun 2021 15:45:33 +0000 https://www.theinfostride.com/?p=295842 The Organisation of Petroleum Exporting Countries and non-OPEC ministerial meeting has reaffirmed its commitment to a stable global market in the mutual interest of producing countries. The meeting gave the assurance at the end of its virtual 17th OPEC and non-OPEC ministerial meeting on Tuesday. “In view of current oil market fundamentals and the consensus [...]

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]]> https://www.theinfostride.com/opec-commits-to-steady-and-stable-global-oil-market/feed/ 0 Oil Price soars on Tighter U.S Market, hits $53 Approximately https://www.theinfostride.com/oil-price-soars-on-tighter-u-s-market-hits-53-approximately/ Tue, 01 Aug 2017 05:01:17 +0000 http://www.theinfostride.com/?p=176119 Oil prices hit a two-month high on Monday lifted by A tightening US crude market and the threat of sanctions against OPEC-member Venezuela, has increased the oil prices. The prices hit a two-month high on Monday. Brent crude futures were 52.90 dollars per barrel earlier in the day, their highest since May 25. U.S. West [...]

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]]> OPEC Production Cut Is Not Likely – Ibe Kachikwu https://www.theinfostride.com/opec-production-cut-is-not-likely-ibe-kachikwu/ Thu, 18 Aug 2016 16:16:02 +0000 http://www.theinfostride.com/?p=140633 Nigerian oil minister Emmanuel Ibe Kachikwu said on Thursday that while a cut in OPEC production is unlikely, there is hope a meeting of producers in Algeria next month could help shore up crude prices. Kachikwu also said in a speech in Lagos that his country’s oil output had fallen to 1.56 million barrels per [...]

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]]> OPEC Has A New Boss https://www.theinfostride.com/opec-has-a-new-boss/ Thu, 02 Jun 2016 17:02:50 +0000 http://www.theinfostride.com/?p=130681 Former Nigerian National Petroleum Corporation (NNPC) Group Managing Director (GMD), Mohammed Barkindo, is the new Secretary-General of Organisation of Petroleum Exporting Countries (OPEC). Barkindo also served as the acting secretary-general of OPEC in 2006, and was NNPC GMD from 2009-2010. An excerpt of an official statement obtained from OPEC’s website reads: “The Conference decided to [...]

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]]> Nigeria Calls On OPEC Members To Find Consensus On Output Freeze https://www.theinfostride.com/nigeria-calls-on-opec-members-to-find-consensus-on-output-freeze/ Tue, 19 Apr 2016 12:09:53 +0000 http://www.theinfostride.com/?p=126016 Nigeria called on OPEC members to find a consensus on a freeze on oil production after talks among producers collapsed in Qatar on Sunday, the oil ministry said on Monday. A deal to freeze oil output by OPEC and non-OPEC producers fell apart on Sunday after Saudi Arabia demanded that Iran to join in despite [...]

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]]> The Issue Of Volatile Oil Price Will Be The Focus Of My Tenure As OPEC President – Kachikwu https://www.theinfostride.com/the-issue-of-volatile-oil-price-will-be-the-focus-of-my-tenure-as-opec-president-kachikwu/ Fri, 04 Dec 2015 12:16:48 +0000 http://www.theinfostride.com/?p=110325 Ahead of his assumption of office as the new President of the Organisation of Petroleum Exporting Countries (OPEC), Nigeria’s Minister of State for Petroleum Resources, Dr Ibe Emmanuel Kachikwu, has made the issue of volatile oil price the focus of his tenure. Kachikwu took over from immediate past Minister of Petroleum, Diezani Alison-Madueke, who made [...]

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]]> #Sanction: Iraq and Venezuela say OPEC to roll over output ceiling https://www.theinfostride.com/sanction-iraq-and-venezuela-say-opec-to-roll-over-output-ceiling/ Mon, 09 Jun 2014 21:45:45 +0000 http://www.theinfostride.com/?p=47355 The OPEC oil producers' cartel appeared set to maintain its output ceiling later this week, Iraq and Venezuela said here on Monday. The Organization for Petroleum Exporting Countries, whose dozen member nations together supply about one third of the…

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]]> Saudi Arabia hints OPEC oil output limit won’t change https://www.theinfostride.com/saudi-arabia-hints-opec-oil-output-limit-wont-change/ Mon, 02 Dec 2013 21:04:58 +0000 http://www.theinfostride.com/?p=3243 Saudi Arabia is satisfied with current crude prices as well as global supply and demand levels, its oil minister said Monday, indicating OPEC will freeze its output ceiling. "The market is in the best position it can be," Saudi Arabia's Oil Minister…

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