OPEC+ agrees on bigger oil-output hikes for coming months | OPEC News

OPEC+ agrees on bigger oil-output hikes for coming months |  OPEC News

The group has finally bowed to months of pressure from major consumers to help ease the pain of high energy prices. By Salma El Wardany and Ben Bartenstein and Grant SmithBloomberg Published On Jun 2, 2022Jun 2, 2022 OPEC+ will increase the size of its oil-supply hikes by about 50%, bowing to months of pressure … Read more

OPEC fails to boost output as members face capacity woes | Oil and Gas News

OPEC fails to boost output as members face capacity woes |  Oil and Gas News

Even group leader Saudi Arabia did not increase output by as much as permitted by the agreed quota. By Grant Smith and Julian LeeBloomberg Published On 3 May 2022May 3, 2022 The OPEC cartel — which has struggled for many months to revive oil supplies halted during the pandemic — effectively failed to increase output … Read more

OPEC Has Missed Its Oil Output Target Once Again

OPEC Has Missed Its Oil Output Target Once Again

Force majeure in Libya and under-production in Nigeria have led to a much lower increase in OPEC production for the month of April than was called for by the cartel’s supply agreement. According to a Reuters surveyOPEC produced 28.58 million barrels per day in April, meaning that OPEC’s 10 members produced only 40,000 bpd more … Read more

Nigeria Says OPEC Is Out of Spare Capacity

Nigeria Says OPEC Is Out of Spare Capacity

OPEC does not have the additional spare capacity to lift crude oil production much more than it is doing today, Nigeria’s Petroleum Minister Timipre Sylva told Anadolu Agency on Friday. “It is not something that you can open a tap for at this point. You must have the additional capacity, the idle capacity to bring … Read more

Nigerian fans riot after World Cup qualification defeat to Ghana | Qatar 2022 News

Nigerian fans riot after World Cup qualification defeat to Ghana |  Qatar 2022 News

Abuja, Nigeria- Ghana held Nigeria to a 1-1 draw in the Nigerian capital on Tuesday, winning the tie on away goals to become the first African country to book a ticket to the 2022 World Cup in Qatar. But angry reactions from the home fans in and around the stadium blighted the “Jollof derby”, with … Read more

Exxon Considers Taking Its Gas-To-Bitcoin Pilot Global

Exxon Considers Taking Its Gas-To-Bitcoin Pilot Global

The fourth-largest oil company in the world is now considering taking its gas-to-bitcoin pilot to four countries… The largest US oil producer Exxon Mobil is considering expanding its North Dakota bitcoin mining pilot program to further reduce the volume of natural gas it routinely burns off or flares into the atmosphere, Bloomberg reported Thursday. People … Read more