30 results
- 25 May 2017
FXTM Analysis: The Tale of OPEC and U.S Shale
The growing optimism over big oil-producing countries extending output cuts to mitigate oversupply woes propelled WTI Crude to a fresh monthly high at $51.76 on Wednesday. Although OPEC and Non-OPEC…
- 6 Mar 2020
Oil prices shaky ahead of OPEC + meetings
By Lukman Otunuga, Senior Research Analyst at FXTM, A sense of uncertainty over whether Russia will commit to OPEC’s proposal for deeper production cuts is weighing on Oil prices this morning. OPEC…
- 1 Dec 2016
OPEC Is Back, Who Else Wants To Join The Party?
On Wednesday OPEC defied sceptics by telling the world we’re still united. When many thought that OPEC had no more influence on oil prices, yesterday proved them wrong with Brent prices surging by 9%…
- 26 May 2017
Comment: Nigeria to Welcome OPEC Extension Confirmation
FXTM Vice President of Market Research, Jameel Ahmad comments on the announcement by OPEC after its meeting. The Naira should be in line to welcome the news that OPEC has confirmed that it will…
- 29 Nov 2014
Oil Prices: OPEC No Longer in Charge
The failure of the cartel partners in the Organization of the Petroleum Exporting Countries (OPEC) to agree to a production cut that would put a brake on plummeting crude prices show that the cartel…
- 9 May 2017
FXTM Analysis: Time to Focus On OPEC Now That France is ‘Out of Sight’
FXTM Vice President of Market Research, Jameel Ahmad comments on the upcoming OPEC meeting. Investors have arrived in full force to exploit the opportunity to sell the Euro at its highest level since…
- 12 Jun 2014
Diezani Loses Bid to Become OPEC Secretary General
Diezani Alison-Madueke, Petroleum minister yesterday lost out in the race to replace the secretary general of the Organisation of Petroleum Exporting Countries (OPEC), as the incumbent Abdalla S.…
- 27 Nov 2014
Alison-Madueke Elected First Female President of OPEC
Mrs. Diezani Alison-Madueke, Nigeria’s minister of petroleum, has just been elected the first female president of OPEC (Organisation of Petroleum Exporting Countries). She is the replacement for the…
- 4 Jun 2015
Buhari to Become Next OPEC President
President Muhammadu Buhari is set to become the next President of the Organisation of Petroleum Exporting Countries (OPEC), as Nigeria still retains its seat, an official of the Nigerian National…
- 19 Jan 2026
Nigeria’s Crude Output Falls to 1.486mbpd in November – OPEC
Organisation of Petroleum Exporting Countries (OPEC) reports that Nigeria’s crude oil production, excluding condensate, dropped by 0.7 per cent to 1.486 million barrels per day (mbpd) in November…
- 29 Nov 2016
FXTM: Moment of Truth for OPEC, Be Ready for Volatility Ahead
Everybody wants a deal, but not everyone is willing to participate in making one. This is how it currently feels with just 24 hours before ministers from OPEC meet to reveal their strategy for ending…
- 19 May 2026
UAE’s Exit from OPEC: Eroding Pricing Power, Saudi Arabia’s Response, and the Implications for Nigeria
By Uwadiae Osadiaye In a move that has sent ripples through global energy markets, the United Arab Emirates (UAE) announced on April 28, 2026, that it will formally withdraw from the Organization of…
- 6 Dec 2018
Will Nigeria Join OPEC in production cuts?
By Lukman Otunuga The past few weeks have certainly not been kind to Oil markets amid oversupply concerns and fears over slowing global growth negatively impacting demand. Severely depressed Oil…
- 15 Jul 2020
Vaccine Hopes Fuel Market Optimism; OPEC in Focus
By Lukman Otunuga, Senior Research Analyst at FXTM The sentiment pendulum is positioned to swing deeper into ‘risk-on’ territory as markets take heart from vaccine hopes and expectations of further…
- 6 May 2026
CRMI Warns of Risks, Sees Gains in UAE Exit from OPEC
Chartered Risk Management Institute of Nigeria (CRMI) has highlighted potential benefits for Nigeria such as increased production flexibility, expanded market share, and improved revenue prospects…
- 8 Apr 2019
Nigeria week ahead: FOMC minutes, OPEC meeting & Gold in focus
By Lukman Otunuga, FXTM Research Analyst, It may be a relatively quiet week for the Nigerian economy as the economic calendar is void of any Tier 1 releases. With the next major report scheduled for…
- 9 Jan 2013
Nigeria, Others Earn $1.154Trn from Oil in 2012
Energy Information Administration (EIA) of the US Department of Energy said that members of the Organisation of Petroleum Exporting Countries’ (OPEC) of which Nigeria is a member nation got higher…
- 22 Jun 2016
Barkindo Canvasses ‘Carrot and Stick’ for N/Delta Militancy
Mohammed Barkindo, new secretary-general, Organisation of Petroleum Exporting Countries (OPEC), has urged the federal government to adopt the carrot and stick ‎approach to address the militancy…
- 18 Mar 2017
Markets Are Mellow Ahead of G20 Meeting
FXTM Research Analyst Lukman Otunuga comments on the rapidly diminishing optimism over the OPEC production cut deal has heavily dented buying sentiment towards Oil with the commodity struggling below…
- 18 Apr 2016
Doha Failure Sparks Market Jitters- FXTM
An undeniable feeling of disappointed engulfed the global markets during trading on Monday following the unsuccessful Doha meeting on Sunday which erased any remaining credibility OPEC had to offer.…
- 12 Sept 2019
Oil Bulls Inspired by Lower US Stockpile
By Lukman Otunuga, Senior Research Analyst, FXTM Oil prices rose more than 1% on Wednesday after the US reported a sharp drop in crude stockpiles soothed oversupply concerns. Speculation around OPEC+…
- 10 Aug 2016
Oil Rebounds On Output Freeze Speculations
WTI Crude edged higher on Tuesday with prices clipping above $43 as the ongoing talks by some OPEC members over a potential freeze on output generated speculative boosts in oil prices. Regardless of…
- 3 Apr 2019
Q2 outlook for Oil & What it means for the Nigerian Economy
By Lukman Otunuga, FXTM Research Analyst, Q2 Outlook - WTI Oil: Near 30% rally in Oil so far this year unjustifiable The near 30% rally in WTI Oil during the first quarter of 2019 is difficult to…
- 15 Feb 2021
Brent crude passes $63 as risk-on sentiment soars
By Hussein Sayed, Chief Market Strategist at FXTM Oil prices kicked off the week on a strong footing, hitting a new 13-month high in early Asian trade. The robust recovery in oil prices and…
- 8 Feb 2017
Currency Market: Rising Political Uncertainty Weighs On Sentiment
FXTM Research Analyst Lukman Otunuga comments on WTI Crude was exposed to further losses on Wednesday after the shocking increase in U.S fuel inventories and decline in Chinese demand revived…
- 2 Oct 2019
What the Recent Oil Disruption Means for Nigeria
By Lukman Otunuga, senior,Research Analyst,FXTM The unprecedented Oil disruption in Saudi Arabia in September shocked the markets and triggered multiple financial reactions for investors across the…
- 16 Dec 2016
King Dollar Returns in Style
The rising prospects of more US interest rate increases in 2017 has encouraged Dollar bullish investors to ruthlessly attack global stocks, emerging markets and commodities during trading this week.…
- 2 Dec 2014
Nigeria in Big Trouble as Oil Prices Plummet to Record Lows
Brent crude oil price dipped to a five-year low and reached $67.17 on Monday, which is the fastest dive since the year 2008, according to official figures. Prior to Monday’s five-year record low, the…
- 1 Jun 2016
FXTM Analysis: British Pound Continues to Fall Down The Charts
The British Pound has continued to fall down the charts during trading on Wednesday as a result of the markets becoming concerned regarding the upcoming EU referendum and the significant risks that…
- 15 Jan 2015
Crude Oil: A Sudden Tumble
The major headline-catching storyline throughout the latter half of 2014 and even the opening week of 2015 has been the dramatic plummet in oil prices, with Crude having declined by around 50% since…