Amid Supply Constraints, Crude Oil Hits $77           The price of the international crude oil benchmark, Brent, rose on Thursday amid supply constraints and a drop in United States oil reserves. As of 9:16pm Nigerian time on Thursday, Brent traded at $77.19 after it rose by 1.13...

OPEC, Others Meet To Decide On Crude Oil Production Increase       The Organisation of the Petroleum Exporting Countries and its allies will meet on Wednesday (today) to decide whether to press on with plans to increase crude oil production by 400,000 barrels per day every month. The...

After Days Of Losses, Oil Price Jumps To $68       The international oil benchmark, Brent crude, jumped on Monday, snapping a seven-day losing streak that was crude’s worst since 2019, as the dollar pulled back and traders bet the recent selling was overdone. Brent, against which Nigeria’s...

Brent Crude Price Drops To $69.83     The price of Brent crude oil yesterday dipped by $0.80 to $69.83 per barrel, representing 1.13 per cent decline at 15:09 hour. The fall followed the United States President, Joe Biden’s plans to pressurise the Organisation of Petroleum Exporting Countries...

Nigeria’s Production Faces Setbacks As Oil Price Tumbles To $68       The international oil benchmark, Brent crude, extended its losses on Monday, falling below the $70 per barrel mark to its lowest level since May. The further decline in the price of Brent followed the imposition of...

Crude Oil Price Drops to $74.18     Brent, the oil against which Nigeria’s crude is priced, dropped marginally on Tuesday, shedding 32 cents to close at $74.18 per barrel as of 4pm Nigerian time. Industry figures showed that the commodity dipped in price by 0.43 per cent...