Organization of the Petroleum Exporting Countries (OPEC)

  • OPEC Lowers 2020 Oil Demand Predictions

    OPEC Lowers 2020 Oil Demand Predictions

    Thursday, 13th August 2020

    The Organization of the Petroleum Exporting Countries (OPEC) has further lowered its forecast on oil demand due to the coronavirus pandemic and there are also doubts about 2021's recovery.

  • OPEC Announces World Oil Production Declined 0.7% in 2019 

    OPEC Announces World Oil Production Declined 0.7% in 2019 

    Tuesday, 14th July 2020

    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.

  • OPEC’s Oil Output Decreases in February

    OPEC’s Oil Output Decreases in February

    Sunday, 17th March 2019

    The OPEC members produced around 30.55 million barrels per day (b/d) in February, down by 221,000 b/d from a month earlier.

  • Nigeria’s Oil Output to Grow by 22%

    Nigeria’s Oil Output to Grow by 22%

    Tuesday, 18th October 2016
    Nigeria expects its oil production rate to grow by 22% by the end of 2016 to reach 2.2mb/d from current levels.