Nigeria Revenue May Crash Further As OPEC Forecasts Supply Glut
Nigeria’s revenue from crude oil sale may drop further in the first and second quarters of 2022 going by the latest projection of surplus oil supply in the period under review by the Organisation of...
Oil Price Reaches $83.37/Barrel As OPEC Meets Today
Oil price in the Organization of the Petroleum Exporting Countries (OPEC) daily basket price stood at $83.37 a barrel on Tuesday, ahead of the 22nd OPEC and non-OPEC Ministerial Meeting, scheduled for Thursday.
In a statement, the organization...
Brent Crude Now $85.62/barrel
The Nigerian National Petroleum Corporation (NNPC) on Monday said Brent crude sold $85.62 per barrel.
According to the report, the crude gained $0.76, indicating 0.90%.
A Reuters report attributed the rising price to soaring demand following the recovery from the COVID-19 pandemic, boosted...
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...
