Fuel Prices may Soar as Crude Oil Nears $80/barrel The prices of refined petroleum products may rise in the coming days following the increase in the cost of Brent, the global benchmark for crude. Crude oil is a major commodity that determines the prices of refined...

Petrol Landing Cost Drops to N981 per Litre The landing cost of petrol, has dropped to N981/litre, according to data released by the Major Energies Marketers Association of Nigeria on Thursday. The petrol landing cost, around N1,130 in previous weeks, came down by over N140 as...

How Nigeria Lost N249bn In July Due To Oil Output Shortage   Nigeria lost about N249bn crude oil revenue in July following a plunge in the country’s oil output by over four million barrels in the same month, latest oil production data seen on Sunday showed Data...

Global Oil Price Rises as OPEC+ Cuts Production Brent, the global benchmark for crude oil, jumped in price on Monday, following the voluntary production cuts by member nations of the Organisation of Petroleum Exporting Countries, as well as OPEC allies, jointly referred to as OPEC+. Oil...

OPEC Considers 1mbpd Cut as Oil Drops to $88/barrel  The Organisation of Petroleum Exporting Countries (OPEC) and its allies, at their October 5, 2022 meeting, says they are considering cutting oil output by over a million barrels per day. Regarding this, Brent crude rose on Monday...

NNPC Vows To Increase Production As Brent Crosses $105/barrel   Brent, the crude against which Nigeria’s oil is priced, crossed the $105/barrel price on Tuesday, as it rose to the highest price ever recorded since about 14 years following the ongoing war in Ukraine after it...