Posts Tagged ‘The Organization of the Petroleum Exporting Countries (OPEC)’

Nigeria records highest oil theft rate in the world ~ NNRC Report

by Ikokwu Ikembaon October 19, 2019
The highest ever reported crude oil theft in the world has taken place in Nigeria with the country recording approximately 400,000 barrels per day (bpd) crude theft, a report showed. Mexico came second with approximately 5000 to 10000 bpd loss to oil theft. The report was the outcome of a study on oil theft carried […]

Crude drops to $60.8 as OPEC oil output sinks to an eight-year low

by Ikokwu Ikembaon October 1, 2019
Brent crude on Monday dropped in price again, shedding $1.09 to close at $60.82 per barrel. Also on Monday, reports by Reuters said that the oil output of the Organisation of Petroleum Exporting Countries (OPEC) fell to an eight-year low in September. The sink in oil output of OPEC, which was the lowest since 2011, […]

Saudi Oil attack may push Brent crude above $75

by Ikokwu Ikembaon September 17, 2019
AN extended Saudi oil outage could push Brent crude prices to $75 per barrel, American multinational investment bank and financial services firm, Goldman Sachs warned clients on Monday. It said the historic attack on the country’s processing plant has disrupted one of the world’s largest energy supply chains. Brent crude futures on Monday rose $6.21 […]