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production cut

Indonesia quits OPEC over production cut

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dailytimes

Indonesia has quit the Organization of Petroleum Exporting Countries (OPEC) over oil production cut. The country’s decision came less than a year after rejoining the group. As a net oil importer, Indonesia said it could not agree to OPEC’s production cuts. The decision came as the cartel agreed its first oil output cut since 2008 […]

Hope rises for Nigeria as OPEC okays 1.2mb/d production cut

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dailytimes

…Oil Price Shoots above $50p/b   Nigeria’s economy might be on its way back to the top as the Organisation for Petroleum Exporting Countries, OPEC, has finally agreed to reduce output by 1.2 million barrels a day. Following on the heels of the announcement, benchmark Brent crude prices resumed climb to top $50 a barrel. […]