Oil prices slipped on Monday, July 7, 2025, after OPEC+ surprised markets by hiking output more than expected in August. Brent crude futures fell 47 cents, or 0.69%, to $67.83 a barrel by 0327 GMT, while U.S. West Texas Intermediate crude was at $66.05, down $0.95, or 1.42%. The Organisation …
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Oil prices rose on Wednesday, June 18, 2025, extending a 4% gain from the previous session on worries that the Iran-Israel conflict could disrupt supplies. Brent crude futures rose 26 cents, or 0.3%, to $76.71 a barrel by 0440 GMT, while U.S. West Texas Intermediate crude futures rose 35 cents, …
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THE Organisation of the Petroleum Exporting Countries (OPEC) has appointed Mr Ademola Adeyemi-Bero, Nigeria’s Governor for OPEC, as Chairman of the OPEC Board of Governors for 2025. Adeyemi-Bero’s appointment was confirmed at the 189th (Ordinary) virtual meeting of the OPEC Conference convened on Tuesday. Prior to his appointment as the …
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Oil prices tumbled more than $3 a barrel on Monday, October 28, 2024, after Israel’s retaliatory strike on Iran over the weekend bypassed Tehran’s oil and nuclear facilities and did not disrupt energy supplies. This eased geopolitical tensions in the Middle East. Both Brent and United States West Texas Intermediate …
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THE Minister of State for Petroleum Resources, Heineken Lokpobiri, has stated that under the incumbent government, Nigeria remains committed to adhering to the production quota established by the Organisation of Petroleum Exporting Countries (OPEC). Newsextra24 understands that during the ministerial meeting with the federal government on June 2, 2023, OPEC raised …
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FILE PHOTO: A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File Photo THE Secretary General of the Organisation of Petroleum Exporting Countries, Haitham Al Ghais, has blamed tax imposition by major oil-consuming countries, not oil prices as …
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Nigeria’s average crude oil production in May dropped to 1.25 million barrels per day (bpd) from 1.28 million bpd recorded in April 2024, according to direct communication from the Organisation of Petroleum Exporting Countries (OPEC). This represents a decline of 2.34 percent compared to the 1.28 million bpd recorded in …
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THE Republic of Equatorial Guinea shares the same core values as OPEC/OPEC+, in its strategic positioning and vision in the world, but above all, in the constant objective of improving the standard of living of the people, to whom we owe a position of responsibility and solidarity, through a policy …
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ANGOLA has given a reason for quitting the oil producers’ organisation, OPEC, on Thursday. According to the African oil-producing country, her exit from OPEC is because the cartel no longer serves its interest amid a protracted dispute on output quotas. The decision of the African oil giant follows last month’s …
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THE price of Nigeria’s Bonny Light, weekend, rose by three per cent to $87.64 per barrel, from $85 per barrel, due to low production by members of the Organisation of Petroleum Exporting Countries, OPEC. Checks by Vanguard, yesterday, indicated that the prices of other crudes, including Brent and OPEC basket …
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