Nigeria's Daily Oil Production Hits 1.95m Barrels The nation’s crude oil production rose by eight per cent to 1.95 million barrels per day in July, data released on Friday by the Organisation of Petroleum Exporting Countries showed. OPEC, in its monthly oil market report for August,...

OPEC Forecasts Lower Demand For Its Oil In 2020 The Organisation of Petroleum Exporting Countries (OPEC) Thursday predicted that the world demand for its crude oil would decline next year as rivals pump more, pointing to the return of a surplus despite an OPEC-led pact...

Nigeria’s Crude Oil Export Falls By 1.6m Barrels In May   Nigeria’s crude oil export fell by 1.6 million barrels in May, representing a 6.8 per cent decline from data for April export, according to figures obtained from the Central Bank of Nigeria (CBN). The CBN, in...

OPEC Forecasts Lower Demand For It's Crude In 2019 The Organisation of Petroleum Exporting Countries will have to attain 100 per cent compliance with its new crude oil supply cut accord and count on continued production declines in Iran and Venezuela, if it wants to...

Crude Oil Export Revenue Falls By N403bn - CBN   Nigeria earned N207.54bn from crude oil and gas export in the first half of this year, falling short of the Federal Government’s target of N661.38bn. Oil constituted 61 per cent of the gross federally-collected revenue of N4.40tn...

Assessing Nigeria’s Benefits From Oil Price Rally   While the recent appreciation in crude oil price has provided Nigeria an opportunity to earn more revenue from oil sales, the country equally spends a considerable amount of that on importing petroleum as well as on subsidy payment,...