Abuja, Nigeria | September 8, 2025 – Nigeria may face fresh economic strain following OPEC+’s decision to ramp up global oil supply, a move that could further pressure the country’s already fragile revenue base. The oil cartel, which met on Sunday, agreed to increase crude output by 137,000 barrels per day beginning next month. This
VIENNA, August 4, 2025 — The Organization of the Petroleum Exporting Countries and its allies (OPEC+) have announced a coordinated decision to raise crude oil output by 547,000 barrels per day (bpd) starting September 2025, citing signs of a stabilising global oil market and improved demand dynamics. The decision followed a high-level ministerial meeting held
Abuja | July 29, 2025 — The Organization of the Petroleum Exporting Countries and its allies (OPEC+) is reportedly considering a new oil supply surge in the coming months, raising fresh concerns for Nigeria as it braces for heightened volatility in crude oil prices and government revenue. According to insiders familiar with the cartel’s deliberations,
Nigeria has once again reached a significant milestone in its oil production target, attaining the Organisation of the Petroleum Exporting Countries (OPEC) quota of 1.5 million barrels per day (bpd) in June 2025. This marks the second time the country has met the benchmark this year, the first being in January. According to OPEC’s latest
July 2, 2025 — Global oil prices climbed on Tuesday, buoyed by signs of robust fuel demand amid the summer driving season, even as investors turned their attention to an anticipated decision from OPEC+ that could shape the market’s direction in the coming months. Brent crude futures settled higher at $86.42 a barrel, gaining $1.07,
The Organisation of the Petroleum Exporting Countries (OPEC) has slightly revised downward its global oil demand forecast for 2025, attributing the adjustment to mounting economic uncertainties sparked by the imposition of tariffs by the United States government. According to a report by Reuters referencing OPEC’s Monthly Oil Market Report released in April, the group now
