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Nigeria s 50-Year OPEC Journey | Hellenic Shipping News Worldwide

Nigeria’s 50-Year OPEC Journey In less than eight weeks from now, the Organisation of Petroleum Exporting Countries (OPEC), will roll out the drums in celebration of its 60th year anniversary. In 50 years of those six decades, the story of Nigeria has been strongly intertwined with that of the oil cartel. Emmanuel Addeh writes that it has been a marriage that has seen both good and bad times, as portrayed by some key Nigerian OPEC participants, who reflected on the history of Nigeria’s involvement in the organisation On September 14, 1960, the Organisation of Petroleum Exporting Countries (OPEC), an inter-governmental cartel of 13 countries was founded in Baghdad by its first five members, namely Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

Nigeria s 50-Year OPEC Journey

ENERGY In less than eight weeks from now, the Organisation of Petroleum Exporting Countries (OPEC), will roll out the drums in celebration of its 60th year anniversary. In 50 years of those six decades, the story of Nigeria has been strongly intertwined with that of the oil cartel. Emmanuel Addeh writes that it has been a marriage that has seen both good and bad times, as portrayed by some key Nigerian OPEC participants, who reflected on the history of Nigeria’s involvement in the organisation On September 14, 1960, the Organisation of Petroleum Exporting Countries (OPEC), an inter-governmental cartel of 13 countries was founded in Baghdad by its first five members, namely Iran, Iraq, Kuwait, Saudi Arabia and Venezuela.

FG Reaffirms Commitment to OPEC s 1 554m bpd Oil Quota

Emmanuel Addeh The federal government yesterday pledged its renewed commitment to full compliance with the country’s crude oil production quota, which it pegged at 1.554 million barrels per day in June. Minister of State, Petroleum Resources, Mr. Timipre Sylva, said during a briefing in Abuja to mark the country’s 50th anniversary as a member of the Organisation of Petroleum Exporting Countries (OPEC), that rationing production was the right thing to do at the moment. The minister stated that apportioning quotas did not hurt the country’s production, adding that if not because of the cartel’s intervention, the price of crude oil would still fall below.

Oil Price Rebound Emerges as US Inventories Contract for Eighth Week

Oil Price Rebound Emerges as US Inventories Contract for Eighth Week of clients are net short. Long News of clients are net short. Long News of clients are net short. Long News of clients are net short. Long News 2021-07-08 20:00:00 David Song, Strategist Oil Price Talking Points The price of oil extends the rebound from the weekly low ($70.76) as US inventories contract for eight consecutive weeks, but recent price action warns of a larger correction in crude as it extends the series of lower highs and lows from earlier this week. Advertisement Oil Price Rebound Emerges as US Inventories Contract for Eighth Week

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