OPEC Lowers 2020 Oil Demand Predictions

• Thursday, 13th August 2020
• by Editorial Team

The Organization of the Petroleum Exporting Countries (OPEC) has further lowered its forecast on oil demand due to the coronavirus pandemic, casting doubts on 2021’s recovery, according to Reuters. An OPEC repor...

OPEC Announces World Oil Production Declined 0.7% in 2019 

• Tuesday, 14th July 2020
• by Editorial Team

The Organization of the Petroleum Exporting Countries’ (OPEC) annual statistical report found that total world oil production declined in 2019 by 0.7%, or 0.56 million barrels per day (mmbbl/d), compared to 2018, acco...

OPEC’s Oil Output Decreases in February

• Sunday, 17th March 2019
• by Editorial Team

The Organization of the Petroleum Exporting Countries (OPEC)’ oil output was reduced during February 2019, mainly because of the production cuts in Venezuela, Saudi Arabia, and Iraq, but that decline was balanced out ...

Nigeria’s Oil Output to Grow by 22%

• Tuesday, 18th October 2016
• by Egypt Oil & Gas

Nigeria’s Oil Minister, Emmanuel Ibe Kachikwu, said that Nigeria expects its oil production rate to grow by 22% by the end of 2016 to reach 2.2mb/d from current levels, Reuters reported. The Organization of the Petrol...