OPEC

May 14, (THEWILL) — Key members of OPEC+ are preparing to press ahead with gradual oil production quota increases in a bid to fully restore the 1.65 million barrels per day (bpd) cuts introduced in 2023 by the end...

May 04, (THEWILL) — Despite holding one of Africa’s largest crude oil reserves, Nigeria continues to underperform its production potential, highlighting deep structural weaknesses in the sector, according to recent data from the Organisation of the Petroleum Exporting Countries...

April 14, (THEWILL) — Nigeria’s crude oil production remained below its quota set by the Organisation of the Petroleum Exporting Countries (OPEC), extending a streak of underperformance to eight consecutive months. According to OPEC’s April Monthly Oil Market Report, the...

March 12, (THEWILL) — Nigeria’s crude oil production fell to 1.31 million barrels per day (bpd) in February 2026, representing a 10.7 percent decline from January’s 1.45 million bpd, according to the latest figures from the Organisation of...

February 12, (THEWILL) — Nigeria has maintained its position as Africa’s largest crude oil producer, with output rising to 1.459 million barrels per day (bpd) in January 2026, according to the latest Monthly Oil Market Report (MOMR) released by...

July 16, (THEWILL) — Nigeria’s oil output on a month-on-month (MoM) basis rose to 1.505 million barrels per day (bpd) in June 2025, data from the Organisation of the Petroleum Exporting Countries (OPEC) Monthly Market Oil Report (MOMR)...

May 13, (THEWILL) – Nigeria’s crude oil production rose to 1.48 million barrels per day (bpd) in April 2025, marking a modest increase from 1.40 million bpd recorded in March, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) said...

March 04, (THEWILL) – Oil prices tumbled to a 12-week low on Monday after the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, confirmed plans to increase oil production in April. Brent crude dropped...

January 16, (THEWILL) – The Organisation of Petroleum Exporting Countries (OPEC) has highlighted the significant impact of the $20 billion Dangote Refinery on Europe’s oil and gas market. The  Dangote Refinery, owned by Africa’s richest man, Aliko Dan­gote, has been...

December 11, (THEWILL) - Nigeria’s crude oil production, excluding condensate, increased to an average of 1.48 million barrels per day (bpd) in November 2024, representing a 15.3 percent rise compared to the 1.3 million bpd recorded in October, the...