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All posts tagged "OPEC"

  • Opec Forecasts Decline in Global Oil demand by 2016

    Global demand for fuel from the Organization of Petroleum Exporting Countries will shrink to 29.7 million barrels a day in 2016,  1.4 million less than this year, the  group said Thursday in its annual World Oil Outlook. The  estimate for...

    • Posted November 9, 2012
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  • Nigeria Surpassed Iran as OPEC Second-Largest Exporter

    Nigeria, Africa’s top oil producer, surpassed Iran as the Organization of Petroleum Exporting Countries’ second-largest exporter in 2010 as security improved in the African nation and as Iran used more crude at home. Nigeria shipped 2.464 million...

    • Posted July 18, 2011
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  • Oil market ‘ll continue to be an ever-changing arena – OPEC

    The Secretary-General of the Organisation of the Petroleum Exporting Countries, Dr. Abdalla El-Badri, has said that the oil market has been and will continue to be an ever-changing arena. According to him, this is because oil is...

    • Posted April 21, 2011
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  • US crude oil hits 21/2-year high, Brent nears $120

    Brent crude rose towards $120 a barrel and U.S. crude hit a 2-1/2-year high above $108 on Monday as unrest in the Middle East and North Africa kept the focus on oil supplies just as economic growth...

    • Posted April 6, 2011
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  • ‘OPEC’ll Not Increase Crude Production’

    Iranian Oil Minister Massoud Mirkazemi said the Organisation of the Petroleum Exporting Countries (OPEC) will not increase crude output. Mirkazemi, who holds the OPEC rotating presidency, told Mehr News Agency  that there is no need for an...

    • Posted March 29, 2011
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  • Nigeria to cut crude loadings by 1.5% in May

    Nigeria, a favoured supplier of oil to the united States refiners, will cut daily exports of 14 main grades by 1.5 per cent in May from April, according to loading programs obtained by Bloomberg News. The largest...

    • Posted March 26, 2011
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  • IEA, OPEC differ on economic threats of rising oil prices

    THE International Energy Agency (IEA) and Organisation of Petroleum Exporting countries (OPEC) have expressed divergent views on the current resurgence of oil prices. While IEA believed that the there is going to be a “marked slowdown” in...

    • Posted March 22, 2011
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  • Nigeria pushes for higher OPEC quota

    THE Federal Government has concluded plans to place a fresh application, seeking review of the country’s oil export quota from Organisation of Petroleum Exporting Countries (OPEC). The move was sequel to the relative peace experienced in the...

    • Posted March 21, 2011
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