OPEC, Russia Deal Raises Hope For Crude Oil         A fresh hope for oil producing countries such as Nigeria, and Algeria was raised at the weekend as oil prices hit the highest level since early March after major producers agreed to a cautious increase in output...

Oil Drops To $47 As Fate Of OPEC+ Deal Uncertain         The international oil benchmark, Brent crude, pared some of its recent gains on Thursday as what seemed to be shaping up as a smooth OPEC+ meeting has hit some turbulence with an airing of grievances. Brent,...

Oil Price Nears $44     Oil prices have neared $44, on the back of hopes that the Organisation of the Petroleum Exporting Countries+ production cuts will increase amid the coronavirus pandemic to sustain price pressure. Anadolu Agency reports that Brent crude was trading at $43.30 per barrel...

Oil Price Rises By 2% After Falling To $36       The international oil benchmark, Brent crude, gained nearly two per cent on Monday, shaking off earlier losses, as the United States heads into a contentious presidential election. Brent, against which Nigeria’s oil is priced, had fallen more...

Oil Drops To $41 As Economic Outlook Dims     The international oil benchmark, Brent crude, declined by about five per cent on Monday, as rising coronavirus cases stoked worries about global demand and a potential return of Libyan production bolstered oversupply fears. Brent, against which Nigeria’s crude...

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...