Oil Price Drops To $27 Amid Demand Collapse     The international oil benchmark, Brent crude, slumped to $27 per barrel as traders were concerned that plans for the biggest production cuts in history would fail to offset the deepest fall in demand in 25 years. The US...

Nigeria, Others To Discuss Further Oil Production Cuts   Nigeria and other members of the Organisation of Petroleum Exporting Countries will gather this week to debate whether to cut oil production further as the spread of coronavirus hits demand for crude worldwide. Reuters reported on Tuesday that...

Oil: Prices Dip To $55 Over Fears Of Demand Disruption   Oil prices fell on Tuesday as fears of demand disruption amid the coronavirus outbreak continue to weigh on market sentiment. Brent Crude was traded down 0.81 per cent at $55.32 while WTI was down 1.01 per...

Brent Crude Price Plunges To $63.13/barrel   Brent crude oil recorded a marginal drop in price on Tuesday, as it shed $1.64 to close at $63.13 per barrel. Figures from international crude prices showed that the commodity traded for $64.64 per barrel the preceding day. But OPEC basket...

Oil Slumps To $61 Despite OPEC Output Cut   The international oil benchmark, Brent crude, dropped for the first time in six days on Thursday after the United States’ Federal Reserve dampened hopes for a string of interest rate cuts and as rising US output helped...

Problem Looms For Nigeria As Oil Price Plunges   The international oil benchmark, Brent crude, has fallen to its lowest level this year and below the proposed benchmark for Nigeria’s 2019 budget, with economic experts describing the development as a cause for concern for the country. Brent,...