Nigeria’s 2025 budget is facing significant challenges as the Federal Government aims to rely heavily on oil revenue, but OPEC’s production quotas and global market fluctuations cast a shadow over…
OPEC
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The OPEC+ alliance, already grappling with supply management issues, faces a turbulent end to 2024, exacerbated by unexpected weaknesses in global oil demand and political uncertainties from the United States.…
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The Organization of Petroleum Exporting Countries (OPEC) has forecasted a significant rise in global oil demand, predicting it will reach 120.1 million barrels per day by 2050—an increase of 24%…
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China’s crude oil imports continue to show weakness, underscoring a significant challenge for OPEC+ nations as they navigate the global energy market. October marked the sixth consecutive month of decline…
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Russia is allegedly violating its agreements with OPEC+ by hiding the true scale of its oil production and sales, according to a new report from the Ukrainian Centre for Defence…
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Oil prices rose sharply on Monday, with Brent crude gaining $1.18 per barrel, or 1.61%, to reach $74.28, while U.S. West Texas Intermediate (WTI) crude increased by $1.21, or 1.74%,…
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Oil prices experienced a rebound on Wednesday following a report suggesting that the Organization of the Petroleum Exporting Countries (OPEC) and its allies may postpone a planned increase in production…
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The OPEC Fund for International Development and the World Bank Group have signed a Memorandum of Understanding (MoU) and a Co-financing Framework Agreement (CFA) aimed at enhancing cooperation on pressing…
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The energy sector in Bhutan received a significant boost on Tuesday with the signing of a USD 50 million loan agreement between the Ministry of Finance and the OPEC Fund…
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Guyana is emerging as a significant contender against OPEC’s influence in the global oil market, according to the International Energy Agency’s (IEA) 2024 World Energy Outlook, released on October 16.…