The IEA said it had cut its oil demand growth forecast for 2017 because of a weaker outlook for the world economy following Britain’s vote to leave the European Union. Global oil demand growth is now expected to slow to 1.2 million barrels per day...

Global oil benchmark, Brent crude, fell by over three per cent on Monday to around $42 per barrel amid worries about growing glut in the market. A Reuters survey last Friday found that output from the Organisation of Petroleum Exporting Countries likely rose in July...

Experts in the oil and gas sector have warned that Nigeria may become a net importer of crude oil in view of the ongoing destruction of oil installations in the Niger Delta region. The experts, who spoke at a stakeholders’ roundtable on the perennial fuel...