Oil Prices Plunge To $95 On Prospect Of Iran’s Nuclear Deal   Oil prices plunged yesterday amid a considerable progression in restoring Iran’s 2015 nuclear deal with world powers. Brent crude futures, the global oil benchmark, fell $1.3 per cent to $95.31 a barrel. US West Texas Intermediate,...

OPEC, Others Meet To Decide On Crude Oil Production Increase       The Organisation of the Petroleum Exporting Countries and its allies will meet on Wednesday (today) to decide whether to press on with plans to increase crude oil production by 400,000 barrels per day every month. The...

Diesel Price Rises To N280/litre       The price of a litre of Automotive Gas Oil, also known as diesel, has risen to N280, buoyed by the recent increase in global oil prices and naira devaluation. It was reported earlier this year that some filling stations in Lagos...

Oil Falls To $65 As India’s COVID-19 Cases Surge       The global oil benchmark, Brent crude, declined on Monday as the Organisation of the Petroleum Exporting Countries and its allies indicated that it was watching surging COVID-19 cases in India, the world’s third-biggest oil importer. Brent crude,...

For The First Time Since 2014 Oil Hits $71 Global oil benchmark, Brent crude, surged above $71 per barrel on Thursday for the first time since 2014 on support from a weaker United States dollar, tighter global supplies and a record run of declines in...

Global oil benchmark, Brent crude, on October 26, 2016 has traded above $50 per barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery. Brent, against which Nigeria’s oil is priced, hit $50.14 per barrel ,...