National Economy
Tuesday, September 16, 2025
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
Read News
National Economy
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy
No Result
View All Result
National Economy
No Result
View All Result
Home Business

OPEC Not Likely To Adjust Current Oil Output Policy Today

by Chika Izuora
2 years ago
in Business, News
Reading Time: 2 mins read
opec
Share on FacebookShare on TwitterShare on Telegram

 

The Organisation of Petroleum Exporting Countries(OPEC+) appear most likely unwilling to change its current oil output policy when a panel meets on Friday, six OPEC+ sources told Reuters, as tighter supplies and resilient demand drive an oil price rally.

Ministers from the OPEC and allies led by Russia, known as OPEC+, meet on August 4. The panel, called the Joint Ministerial Monitoring Committee, can call for a full OPEC+ meeting if warranted.

Oil has rallied to a three-month high this week above $85 a barrel for Brent crude, as tighter supply and rising demand outweigh concern that interest rate hikes and stubborn inflation could hit economic growth.

You May Like

LG Electronics Inaugurates Solar-powered Borehole, Free Laundry Facility In Abeokuta

SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure

The Six OPEC+ sources said the Committee would probably not make any changes to existing policy during Friday’s online meeting as one of them cited the rising oil price as a reason to take no action.

The OPEC and the Saudi Energy Ministry did not immediately respond to requests for comment on Tuesday.

In the latest comments from an OPEC member about the market, the energy minister for the United Arab Emirates told Reuters on July 21 that current OPEC+ actions were sufficient for now and the group was “only a phone call away” if any further steps are needed.

The UAE minister sits on the JMMC, which is chaired by Saudi Energy Minister Prince Abdulaziz bin Salman.

Still, a surprise cannot be ruled out. The Saudi minister in July said OPEC+ would “continue the effort at surprising markets.”

In April, several OPEC+ members announced cuts just ahead of a JMMC meeting that was expected to take no action.

At its last policy meeting in June, OPEC+ agreed on a broad deal to limit supply into 2024 and Saudi Arabia pledged a voluntary production cut for July that it has since extended to include August.

Analysts told Reuters last week they expected Saudi Arabia to extend the voluntary cut for another month to include September.

National Australia Bank said in a report on Tuesday that it expected the Saudis to announce an extension of their voluntary cut at the committee meeting on Friday.

Tags: OPEC Not Likely To Adjust Current Oil Output Policy Today
ShareTweetShare
Previous Post

Nigeria Broadens Ultra-Deepwater Crude Oil Operations 

Next Post

FCCPC Gives Google Nod To Delete 18 Loan Apps From Play Store

ANOTHER GOOD READ

LG Electronics Inaugurates Solar-powered Borehole, Free Laundry Facility In Abeokuta
Business

LG Electronics Inaugurates Solar-powered Borehole, Free Laundry Facility In Abeokuta

30 minutes ago
SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure
News

SEREC Links Steel Industry’s Decline To Poor Ports Infrastructure

1 day ago
Nigeria, Others To Brainstorm On Sustainable Energy Goals
News

Nigeria, Others To Brainstorm On Sustainable Energy Goals

1 day ago
Arewa Forum Hail NAIC Boss Yazid Danfulani’s 100 Days In Office
News

Arewa Forum Hail NAIC Boss Yazid Danfulani’s 100 Days In Office

1 day ago
Aavishkaar Capital Invests $5m In Horizon Group To Boost Operations
News

Aavishkaar Capital Invests $5m In Horizon Group To Boost Operations

1 day ago
Coursera Introduces Region-aligned Pricing For Affordable Learning In Nigeria
News

Coursera Introduces Region-aligned Pricing For Affordable Learning In Nigeria

1 day ago
Next Post
FCCPC Gives Google Nod To Delete 18 Loan Apps From Play Store

FCCPC Gives Google Nod To Delete 18 Loan Apps From Play Store

Most Recent

LG Electronics Inaugurates Solar-powered Borehole, Free Laundry Facility In Abeokuta

LG Electronics Inaugurates Solar-powered Borehole, Free Laundry Facility In Abeokuta

September 16, 2025
How Fintech Can Untie Puzzle At  Bottom Of The Pile

How Fintech Can Untie Puzzle At Bottom Of The Pile

September 15, 2025
16 Teams For 9ja Cafe Rhum /Late Pa Ayo Rosiji Football Championship

16 Teams For 9ja Cafe Rhum /Late Pa Ayo Rosiji Football Championship

September 15, 2025
Nigeria Cricket Federation To Hold AGM, Board Elections Sept 20

Nigeria Cricket Federation To Hold AGM, Board Elections Sept 20

September 15, 2025
Nigerian U-20 Captain Daniel Joins Slovenian Club

Nigerian U-20 Captain Daniel Joins Slovenian Club

September 15, 2025
Egbe Demands NFF Reform Amid World Cup Qualifying Crisis

Egbe Demands NFF Reform Amid World Cup Qualifying Crisis

September 15, 2025
Safe Skies: Phone Switched Off Or Airplane Mode?

Safe Skies: Phone Switched Off Or Airplane Mode?

September 15, 2025
Articulated Vehicles And Increasing Fatalities: A Call To Action

Articulated Vehicles And Increasing Fatalities: A Call To Action

September 15, 2025
Advertise with us

© 2024 | National Economy

No Result
View All Result
  • Home
  • News
    • International Business
  • Lead-In
    • Cover
    • Investigation
  • Economy
    • Nigerian Economy
    • Fiscal Policy
    • Energy
    • Agri Business
    • Transportation
    • Industry
    • Competition
    • Homes & Property
    • Insurance
    • Companies & Markets
      • Companies
      • Capital Market
  • Tech
  • States & Politics
  • Commentary
    • Analyst
    • Business Matters
    • All Angles Considered
    • ClickSend
  • Editorial
  • Data
  • Others
    • Opinion
    • Money Guide
    • Analysis
    • Growth
    • Sport Economy

© 2024 | National Economy