COGNICURRENT

OPEC+ is considering a production increase of 137,000 barrels per day in April in response to rising summer demand and tensions with Iran.

Russia's oil production is facing challenges as drilling activities reach a three-year low, exacerbated by Western sanctions and economic pressures.

Iran is nearing the finalization of a contract to import natural gas from Russia, with most discussions completed regarding technical and legal aspects.

Nigeria's oil sector is estimated to have lost N1.76 trillion due to failure in meeting OPEC's production quotas.

Oil prices have risen slightly as investors consider the impact of upcoming US-Iran nuclear negotiations on the market.

Oil prices remained stable as investors considered the implications of upcoming US-Iran nuclear talks aimed at easing tensions against a backdrop of expected increases in OPEC+ supply.

The United States has relaxed energy sector sanctions on Venezuela, enabling global oil companies to resume operations and invest in the country's oil and gas industry.

OPEC anticipates a drop in global demand for OPEC Plus crude by 400,000 barrels per day in Q2 compared to Q1 2023.

Donald Trump's aggressive foreign policy is reshaping the oil and gas market, facilitating new deals for major U.S. companies like ExxonMobil and Chevron.

Russian President Vladimir Putin and Saudi Arabian Crown Prince Mohammed bin Salman discussed enhancing cooperation in political, economic, trade, and humanitarian areas during a phone call, along with their joint efforts within OPEC+ to maintain global energy market stability.

The international power structure in the oil market is significantly shifting due to US intervention in Venezuela, as the US under Trump moves towards becoming a 'Petro State', raising questions about future oil price determination by either the US or OPEC.

Amid rising unrest in Iran, the U.S. considers a possible strike as the Iranian government weakens, marking a significant geopolitical development after the fall of the Venezuelan government.

The article discusses the impact of potential military confrontation and renewed US sanctions on Iran's oil production, which poses a risk to global oil supplies as Iran is the fourth-largest producer in OPEC.

Oil prices declined on Monday as Iran contained protests, easing supply concerns, while investors are watching efforts to resume oil exports from Venezuela.

Oil prices declined on Monday as global supply abundance overshadowed concerns about potential supply disruptions linked to the political and military developments in Venezuela, a member of OPEC.

OPEC+ decided to maintain oil production levels while considering a possible increase later in the year, with Venezuela's role in the future of European gas and oil supply being crucial to this decision.

Despite the ongoing crisis in Venezuela, oil prices have dropped by 1% as OPEC maintains its production plans and market operators anticipate long-term supply abundance.

Despite the political changes in Venezuela, OPEC+ member countries have decided to maintain their oil production levels as previously agreed.

According to OPEC estimates, Venezuela has the largest confirmed oil reserves in the world, followed by Saudi Arabia and Iran, contributing to a total of nearly 1.77 trillion barrels globally, with the Middle East holding more than half of this amount.

OPEC+ members have decided to maintain current oil production levels despite last year's significant decline in crude prices and concerns over oversupply.

Despite the arrest of Venezuela's President Nicolas Maduro, OPEC Plus has decided to keep oil production steady amidst concerns of oversupply as oil prices have dropped significantly in 2025.