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Oil Price Manipulation must stop!!

Oil Price Manipulation must stop!!

November 13, 2018 No Comments

The headlines across the world today read….’Oil prices rise as Saudi Arabia signals production cut’, ”Oil price rises as Saudi Arabia pledges supply cut” , ” Saudi Arabia is reducing oil supply and OPEC may cut too” ”Saudi Arabia’s Call for an Output Cut Pushes Oil Prices Higher” They want to reduce oil supply by […]

JMMC meeting in Abu Dhabi focuses on supply and demand outlook for 2019

JMMC meeting in Abu Dhabi focuses on supply and demand outlook for 2019

November 13, 2018 No Comments

The OPEC-Non-OPEC Joint Ministerial Monitoring Committee (JMMC) convened in Abu Dhabi, United Arab Emirates, for its eleventh meeting on 11 November 2018. The Committee reviewed the monthly report prepared by its Joint Technical Committee (JTC) and the short-term developments in the global oil market, including prospects, as well as scenario analysis for 2019. The JMMC […]

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Energy minister says no need for country to join OPEC

Energy minister says no need for country to join OPEC

October 9, 2018 No Comments

Russia’s Energy Minister Alexander Novak considers it unreasonable for the country to join OPEC. “I do not think it is necessary and reasonable,” he said in an interview aired by the Rossiya-24 TV news channel on Tuesday when asked about Russia’s possible joining the oil cartel. “Fundamentally, the instruments being used today when we reach […]

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OPEC congratulates President Vladimir Putin on his birthday

OPEC congratulates President Vladimir Putin on his birthday

October 8, 2018 No Comments

OPEC Secretary General, HE Mohammad Sanusi Barkindo, extended birthday congratulations to the Russian President, HE Vladimir Putin. He thanked the President for his pivotal contribution to the ‘Declaration of Cooperation’ process and looked forward to further cooperation in the future. HE Barkindo wished the President long life, good health and many more years of service […]

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JMMC meets in Algiers to monitor developments in the oil market

JMMC meets in Algiers to monitor developments in the oil market

September 24, 2018 No Comments

The Joint OPEC-non-OPEC Ministerial Monitoring Committee (JMMC) convened in Algiers, Algeria for its tenth meeting, on 23 September 2018. The Committee reviewed the monthly report prepared by its Joint Technical Committee (JTC) and the short-term developments in the global oil market, including prospects for 2019. The meeting coincided with the commemoration of the 2nd Anniversary […]

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OPEC’s World Oil Outlook to be launched in Algiers

OPEC’s World Oil Outlook to be launched in Algiers

September 6, 2018 No Comments

The 2018 OPEC World Oil Outlook (WOO) will be presented at a press conference to be held at the El Aurassi Hotel in Algiers, Algeria, on Sunday, 23 September 2018 at 3:15 pm (Algiers time). The launch will coincide with the 10th Meeting of the Joint Ministerial Monitoring Committee (JMMC) in Algiers, and form part […]

Nigeria Could Lose OPEC Status If It Signs New Oil Bill

Nigeria Could Lose OPEC Status If It Signs New Oil Bill

August 30, 2018 No Comments

While Nigeria’s President Muhammadu Buhari is said to be withholding signing the country’s new petroleum bill into law over concerns that it strips the president of powers over the industry, a former manager at the Nigerian National Petroleum Corporation (NNPC) warns that Nigeria could lose its membership in OPEC if the bill becomes law. If […]

A Saudi-Iran Oil War Could Break Up OPEC

A Saudi-Iran Oil War Could Break Up OPEC

August 24, 2018 No Comments

When OPEC and Russia shook on increasing crude oil production by a million barrels daily to stop the oil price climb that had begun getting uncomfortable for consumers from Asia to the United States, there was no sign of what was to come just two months later: slowing demand in Asia, ample supply, and a […]

ENERGY NEWSTRACK TO 23/08/18:

ENERGY NEWSTRACK TO 23/08/18:

August 23, 2018 No Comments

The price of OPEC basket of fifteen crudes stood at $71.75 a barrel on Wednesday, 22 August 2018, compared with $71.01 the previous day, according to OPEC Secretariat calculations. Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export […]

Iran And Saudi Arabia Reignite The Oil Price War

Iran And Saudi Arabia Reignite The Oil Price War

August 14, 2018 No Comments

The rivalry between Saudi Arabia and Iran is becoming increasingly evident in the oil pricing policies of the two large Middle Eastern producers. The two countries are currently reigniting the market share and pricing war ahead of the returning U.S. sanctions on Iranian oil. Saudi Arabia, OPEC’s largest producer, has been boosting oil production to […]

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