Budget Business Economy Oil & Gas

Experts urge FG to boost oil output to reduce budget deficit in 2023

Reading Time: 2 minutes Some financial experts have told the federal government that increasing the country’s oil production to the OPEC quota is the only way to keep the budget stable and reduce the projected budget deficit. On Wednesday in Lagos, they made the appeal in separate interviews with the News Agency of Nigeria (NAN). Prof. Sherifdean Tella, Head, Read More…

Business Oil & Gas Top Story World

OPEC August oil output rises despite NIgeria’s output decline, survey reveals

Reading Time: 2 minutes A Reuters Agency survey has shown that the Organization of the Petroleum Exporting Countries (OPEC) recorded its highest oil output since April 2020 in August 2021. This is in spite of involuntary losses which limited the rise in oil production output following the easing of production limits by OPEC’s top producers which they had entered Read More…

Business Oil & Gas Top Story

OPEC sees oil outlook for 1st half of 2021 full of downside risks

Reading Time: 2 minutes The Organisation of the Petroleum Exporting Countries (OPEC) sees plenty of downside risks for oil markets in the first half of 2021, Mohammad Barkindo, its Secretary-General said on Sunday. Barkindo’s remark is coming a day before meeting allies, led by Russia, to discuss output levels for February. “Amid the hopeful signs, the outlook for the Read More…

Business Featured Oil & Gas

OPEC+ leaning towards oil cut extension, despite rally: sources

Reading Time: 2 minutes OPEC and allies including Russia are leaning towards delaying next year’s planned increase in oil output to support the market during the second wave of COVID-19 and rising Libyan output, despite a rise in prices, three sources close to OPEC+ said. OPEC+ was due to raise output by 2 million barrels per day (bpd) in Read More…