Crude Oil Price Hits 13-month High At $63       Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demand even as producers kept supply reined in. Global benchmark, Brent Crude, was up 88 cents,...

Nigeria’s Crude Oil Exports Hit Three-Year Low       West Africa’s oil exports slumped to the lowest level in at least three years last month as infrastructure woes for some of Nigeria’s biggest streams combined with gradually waning output in Angola. Combined flows from the region fell to...

OPEC’s January Crude Oil Production Rises         The Organisation of Petroleum Exporting Countries (OPEC’s) crude oil production increased by 160,000 barrels per day (bpd) in January as the non-member countries called OPEC+ alliance is easing the output cuts in the first month of the year, it...

Nigeria Lost N76bn Worth Of Crude To Pipeline Vandals In 2020         Nigeria lost at least 3.1 million barrels of crude worth about $200m (about N76.3 billion) in 2020 due to activities of pipeline vandals and crude oil thieves. This figure is contained in a report released...

Oil Price Rises To 10-month High Of $54         Oil prices extended gains on Wednesday, rising to their highest since last February, after Saudi Arabia announced a big voluntary production cut, and as US crude inventories declined in the latest week. Brent crude was up 79 cents,...

OPEC Retains Oil Cuts Over Demand Concerns           Members of the Organisation of the Petroleum Exporting Countries (OPEC) and allied producers under OPEC+, yesterday, agreed to cap crude production at current levels in February. The decision was taken at the Joint Ministerial Monitoring Committee (JMMC) meeting. In...