COVID-19: Virus Resurgence Threat To Oil Demand Recovery – OPEC       The resurgence of the COVID-19 pandemic in many countries is posing a threat to economic and oil demand recovery, the Organisation of Petroleum Exporting Countries has said. It disclosed this at the 16th OPEC and non-OPEC...

Oil Drops To $62 As COVID-19 Dims Demand Outlook       The international oil benchmark, Brent crude, fell the most in nearly two weeks on Monday as growing delays in Europe’s reopening and looming Iranian supply dampened hopes for a swift decline in global inventories. Brent, against which...

Oil Rally Pushes Nigeria’s Revenue Above Budget Estimate       The upturn in the price of the international oil benchmark, Brent crude, has pushed Nigeria’s oil revenue above the estimate in the 2021 budget. Brent, against which the country’s crude oil is priced, has been trading more than...

Oil Price Rises To $64 As Ship Blocks Suez Canal       The international oil benchmark, Brent crude, reversed its recent losses on Wednesday after a ship ran aground in the Suez Canal, and worries that the incident could tie up crude shipments gave prices a boost...

Oil Tumbles To $60 On Concerns Over Vaccine Rollouts       The international oil benchmark, Brent crude, fell more than six per cent on Tuesday, tumbling as concerns over new pandemic curbs and slow vaccine rollouts in Europe compounded additional crude volumes. Brent, against which Nigeria’s crude oil...

Oil Drops After Hitting $70, OPEC+ Output Plunges       The international oil benchmark, Brent crude, dropped on Monday after climbing above the $70 per barrel mark for the first time in over 14 months. Brent, against which Nigeria’s oil priced, fell by $1.30 to $68.06 per barrel...