Tag Archives: Organisation of the Petroleum Exporting Countries

OPEC cuts push oil prices to $70 amid strong economy

Oil prices were firm, on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries (OPEC) and Russia. Reuters News agency states that spot Brent crude oil futures, the international benchmark for oil prices, were at 70 dollars a barrel at 0102 ...

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Crude oil now sells for $70

The price of brent crude oil rose to 70 dollars a barrel, on Monday, supported by ongoing output cuts led by the Organisation of Petroleum Exporting Countries (OPEC) and Russia, and ignoring a rise in U.S. and Canadian drilling activity that points to higher future output in North America. Brent sweet crude futures, the international benchmark for oil prices, were ...

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Oil rises, poised to make above $70 , on fewer U.S. rigs, OPEC

Oil prices rose on Monday, poised to make above 70 dollars on a slight decline in the number of U.S. rigs drilling for new production and sustained output cuts by the Organisation if Petroleum Exporting Countries (OPEC). Brent sweet crude futures were at 67.95 dollars a barrel, 33 cents above their last close. The Brent oil is poised to rise ...

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Nigera’s oil revenue exceeds 2017 benchmark by 18 per cent – NNPC

Debt payback could be done much easier than initially expected by the Federal Government. The Nigerian National Petroleum Corporation (NNPC) says oil revenue in the first ten months of the year exceeded the 2017 Budget oil benchmark of $44.50 per barrel by 18 per cent. NNPC’s Spokesperson, Ndu Ughamadu, made this known in a statement. Ughamadu said that the corporation’s ...

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