oil

Africa Oil & Gas: Presidential Hopeful Says Niger Delta Could Keep ‘All Oil Revenues’

Posted on by Mozambique Resources Post
Africa Oil & Gas: Presidential Hopeful Says Niger Delta Could Keep ‘All Oil Revenues’

A presidential candidate from the People’s Democratic Party has said the Niger Delta communities could keep all of the revenues the oil-rich province produces. In an interview with the Africa Report, former Vice President Atiku Abubakar suggested a sharing scheme might still be better for everyone.

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Global Markets: OPEC+ Said to Weigh Bigger Production Cut

Posted on by Mozambique Resources Post
Global Markets: OPEC+ Said to Weigh Bigger Production Cut

(Bloomberg) — OPEC and its allies are considering cutting oil output by more than the 1 million barrels a day Saudi Arabia proposed earlier this week as the group is increasingly worried about the potential for oversupply, people familiar with the matter said.

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Global Industry: OPEC Cuts 2018 Oil Demand Growth Forecast By 40,000 Bpd

Posted on by Mozambique Resources Post
Global Industry: OPEC Cuts 2018 Oil Demand Growth Forecast By 40,000 Bpd

OPEC expects global oil demand to grow at a daily rate of 1.5 million bpd this year, further slowing down to 1.29 million bpd in 2019, the organization said in the latest issue of its Monthly Oil Market Report. This is 40,000 bpd and 70,000 bpd lower in demand growth projections for 2018 and 2019, respectively, from last month’s report.

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