Oil prices fell after a record 19 million barrels of crude flowed through the Strait of Hormuz on Monday, according to US President Donald Trump.

Oil Exports Push Nigeria's Current Account Surplus to $4.98bn Nigeria’s current account surplus rose sharply by 255.7 per cent quarter-on-quarter to $4.98bn in the first quarter of 2026, driven by higher crude oil, gas and refined petroleum exports, as well as a steep decline in...

Global oil prices surged to $104 per barrel on Monday after peace talks between the United States and Iran collapsed, raising fears of renewed hostilities in the Middle East.

The United States spent $578.78m on Nigerian crude oil imports in the first quarter of 2026, down from $681.40m in the same period of 2025, according to data from the U.S. Census Bureau and Bureau of Economic Analysis.  

The Federal Government, through the Nigerian National Petroleum Company Limited (NNPC), has begun sourcing crude oil from international traders to sustain operations at the Dangote Petroleum Refinery, amid mounting fuel price hikes.

'Nigeria Risks Oil Production Drop Without New Discoveries' The President of the Nigerian Association of Petroleum Explorationists (NAPE) Johnbosco Uche, has warned that Nigeria’s oil production could decline in the coming years if new exploration efforts and discoveries are not urgently pursued. Speaking at a media...