Nigeria’s Oil Output Lower Than OPEC Quota Nigeria saw its crude oil production increase slightly last month to about 1.25 million barrels per day, which is 360,000 bpd lower than the quota given to it by the Organisation of Petroleum Exporting Countries. The country told OPEC...

'High Crude Oil Prices To Linger'           The Bank of America has stated that the price of the international crude oil benchmark, Brent, could hit $100 over the next six months if the winter in western countries is colder than usual. Brent traded at $75.71 per barrel...

Nigeria Records N1.87trn Trade Deficit Amid Rising Crude Oil Exports     Nigeria recorded a trade deficit of N1.87tn in the second quarter of the year despite recording 111.32 per cent in crude oil exports. However, statistics released by the National Bureau of Statistics in Abuja on Wednesday...

Nigeria’s Oil Production Drops To 1.24m bpd – Report       Nigeria’s crude oil production plunged to a record low of 1.24 million barrels per day last month as a result of lingering disruptions, S&P Global Platts reported on Wednesday. The report quoted industry and ministry sources as...

OPEC+ Maintains 400,000bpd Monthly Oil Output Increase       The Organisation of the Petroleum Exporting Countries and its allies, on Wednesday, agreed to stick to their existing plan for gradual monthly oil production increases. OPEC and non-OPEC ministers ratified the 400,000 barrel-per-day supply hike scheduled for October after...

In Four Years, Nigeria Loses 2.5trn Oil Barrels       Nigeria has lost 4.5 trillion barrels of oil to theft in the last four years, according to data from the Nigeria Natural Resource Charter (NNRC). Another data from the National Oil Spill Detection and Response Agency (NOSDRA) showed...