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Oil on track for weekly gains on trade talk hopes, OPEC-led supply cuts

OIL prices were on track for solid weekly gains on Friday after financial markets were lifted by hopes the United States and China may soon resolve their trade disputes, and as OPEC-led crude output cuts started to tighten supply. Despite this, markets were held in check by expectations of an economic slowdown in 2019. International […]
The post Oil on track for weekly gains on trade talk hopes, OPEC-led supply cuts appeared first on Tribune Online. …

40bn barrels not likely soon as investors remain sceptical over PIGB

A report by the Department of Petroleum Resources, DPR, obtained by Vanguard showed that Nigeria’s oil reserves remain low at 37 billion barrels, despite efforts made by the government and others to achieve 40 billion barrel by 2020.
Continue reading 40bn barrels not likely soon as investors remain sceptical over PIGB at Vanguard News Nigeria. …

Nigeria’s rig count declines by 6, as OPEC’s reduces by 11

AT a time the oil cartel, the Organisation of Petroleum Exporting Countries, OPEC, embarked on an 800,000 barrels per day production cut for the next six months, with Nigeria contributing about 40,000 barrels, the country’s rig count took a nosedive by 6, as it recorded 28 in November as against 34 recorded in October, latest data from OPEC showed.
Continue reading Nigeria’s rig count declines by 6, as OPEC’s reduces by 11 at Vanguard News Nigeria. …

Oil falls to $53 on economic worries, surging supply

Oil falls to $53 on economic worries, surging supply

Alex Lawle,Noah Brownin (Reuters) Oil fell towards $53 a barrel on Wednesday, under pressure from rising output in major OPEC and non-OPEC producers and due to concerns about an economic slowdown that could weaken demand. Russian production hit a post-Soviet record in 2018, figures showed on Wednesday. Other data showed U.S. output reached a record in […]
The post Oil falls to $53 on economic worries, surging supply appeared first on The Sun Nigeria. …

Nigeria to lose 27% of oil production in 2019

Nigeria to lose 27% of oil production in 2019

Adewale Sanyaolu Nigeria is to lose about 226,300,000 million barrels of oil production in 2019, representing about 27 per cent of its current year’s target. The loss is sequel to the Organisation of Petroleum Exporting Countries (OPEC) decision to cut the country’s production quota from January 1, 2019. According to an arrangement by the oil […]
The post Nigeria to lose 27% of oil production in 2019 appeared first on The Sun Nigeria. …

Oil price: Saraki, Rewane, LCCI, others raise fresh worries over 2019 budget

Oil price: Saraki, Rewane, LCCI, others raise fresh worries over 2019 budget

“Between the crude oil price and production we have already seen that once we don’t meet those targets, we are going to have a huge deficit problem.” Adewale Sanyaolu Worried by persistent drop in international crude oil prices, some Nigerian experts are becoming apprehensive that the implementation of the 2019 budget may be hugely challenged […]
The post Oil price: Saraki, Rewane, LCCI, others raise fresh worries over 2019 budget appeared first on The Sun Nigeria. …

OPEC Eyes Output Cuts As Trump Calls For Boost

  OPEC members and other oil-producing countries mulled cuts in output Thursday to prop up plunging prices, defying repeated calls by US President Donald Trump that they keep the taps open. “We’re looking for a sufficient cut to balance the market, equally distributed between countries,” Saudi oil minister Khalid al-Falih told reporters ahead of an … Continue reading OPEC Eyes Output Cuts As Trump Calls For Boost
The post OPEC Eyes Output Cuts As Trump Calls For Boost appeared first on Channels Television. …

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