OPEC Recruitment for Oil Price Analyst

Organization of the Petroleum Exporting Countries (OPEC) - We coordinate and unify the petroleum policies of its Member Countries and ensure the stabilization of oil markets in order to secure an efficient, economic and regular supply of petroleum to consumers, a steady income to producers and a fair return on capital for those investing in the petroleum industry.

We are recruiting to fill the position below:

Job Title: Oil Price Analyst

Job Code: 4.3.02
Location: Nigeria


  • Within the Research Division, the Petroleum Studies Department provides pertinent and reliable information and analyses in support of decision-making and policy-making in Member Countries.
  • It carries out research programs and studies on short-term petroleum market developments with the aim of issuing reports on a regular, as well as ad-hoc basis, highlighting important issues for their use and consideration. It conducts regular forecasts, elaborates and analyses oil market scenarios and prepares and publishes reports on these findings.
  • It promotes OPEC’s views and technical analysis on short-term oil market developments to the industry at large and the general public via the OPEC Monthly Oil Market Report, as well as other reports, presentations and related pod casts. And it prepares and contributes to reports to be submitted to the Economic Commission Board, the Board of Governors, etc., as well as papers for various OPEC publications.
Objective of Position
  • To study and analyse determinants of oil prices and price differentials between grades of crude oil as well as different market crude spreads with potential arbitrage flows and to analyse factors affecting petroleum future markets and their interaction with spot prices; to forecast short- and medium oil price movements and - on the basis of forecasts of oil demand and supply as well as current stock movements - to undertake market assessments under different scenarios and report thereon.

Required Competencies and Qualifications
  • University degree in Economics, Petroleum Economics, Marketing, Engineering or related fields;
  • Advanced degree preferred
Work Experience:
  • 8 years in the oil industry sector
  • 6 years in case of advanced degree
  • Physical and future markets
  • Supply/demand fundamentals
  • Economics in the petroleum industry
  • Trading tools
  • Oil market and its fundamentals, in particular combination of all key factors influencing the oil market/prices
  • Communication skills
  • Analytical skills
  • Presentation skills
  • Interpersonal skills
  • Customer service orientation
  • Initiative and integrity
  • English
Status and Benefits
  • Members of the Secretariat are international employees whose responsibilities are not national but exclusively international. In carrying out their functions they have to demonstrate the personal qualities expected of international employees such as integrity, independence and impartiality.
  • The post is at grade E reporting to the Head of Petroleum Studies Department. The compensation package, including expatriate benefits, is commensurate with the level of the post.

Main Responsibilities
  • Consolidates analytical findings and prepares, coordinates and contributes to reports for submission to the Governing Bodies (primarily Economic Commission Board) and for issuance in the Daily, Weekly and Monthly Reports as well as for presentations in various forums.
  • Carries out the Market Assessment for submission to the Governing Bodies (Board of Governors, Economic Commission Board, etc.).
  • Analyses the price performance of different grades of crudes in the international oil market and identifies significant changes in price differentials.
  • Studies and analyses crude oil pricing policies of oil exporting countries.
  • Studies and analyses price developments in future markets, identifies prices levels and differentials in relation to spot markets.
  • Follows up on the performance of the OPEC Reference Basket in relation to major benchmarks.
  • Carries out further in-depth analyses and applies quantitative methods on oil market price movements.
  • Analyses key factors which have an impact on oil prices, primarily in major consuming countries.

Deadline: 28th February, 2018.

How to Apply
Interested and qualified candidates are requested to fill in a résumé and an application form which can be received from their Country’s Governor (PDF) (See Nigeria address below) for OPEC. In order for applications to be considered, the application form and resume must reach the OPEC Secretariat through the relevant Governor not later than the closing date stated above.

Federal Republic of Nigeria
Dr. Omar Farouk Ibrahim, MCIPR,
Group General Manager, International Energy Relations (GGM IER),
Governor for OPEC,
Nigerian National Petroleum Corporation - NNPC,
Block D 10th Floor, Room 04, NNPC Towers
Abuja, Nigeria.

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Note: Applicants must be nationals of Member Countries of OPEC and should not be older than 58 years.

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