Oil Drops To $39, Nigeria’s Output Rises
The international oil benchmark, Brent crude, fell below the $40 per barrel mark on Monday, amid demand worries, as the Organisation of the Petroleum Exporting Countries further cut its outlook for demand growth.
Nigeria, Africa’s biggest oil producer, said...
Oil Slides After Saudi Price Cuts
Oil prices dropped on Monday after earlier hitting their lowest since July as Saudi Arabia made the deepest monthly price cuts for supply to Asia in five months. Optimism about demand recovery also cooled amid the coronavirus pandemic.
Brent crude...
Brent Crude Hits Five-Month High At $46
The international oil benchmark, Brent crude, nudged up on Monday, posting its fifth straight monthly gain, as global stimulus measures underpin prices even as demand struggles to return to pre-COVID levels in a well-supplied market.
Brent crude futures for...
COVID-19: Second-wave Fears Threaten Oil Demand Recovery
The recent oil price gains may be short-lived as growing fears over a resurgence in COVID-19 cases are putting the world’s oil demand recovery on hold, sparking concerns over a new supply glut in the coming months, according...
Fuel Pump Price May Rise In June As Oil Heads Towards $40 Per Barrel
If the Federal Government’s pricing template is anything to go by, Nigerians may have to brace for an increase in the pump price of fuel as oil prices begin to head...
Nigeria’s Brent Crude Drops To $19.71/b, Lowest In 18yrs
The turmoil in the international oil market worsened significantly yesterday as the Brent crude, the international and Nigeria’s benchmark, dipped significantly by nearly $12 per barrel to ebb at $19.71 per barrel, the lowest price it...
