Oil Prices Fall As US Inflation Prompts Weak Demand On Thursday, oil prices fell as inflation data from the United States indicated a softening of the world’s biggest economy which could weaken crude oil demand. Brent futures went down by 6 cents to $83.62 a barrel...

Subsidy May Hit N5trn As Oil Hits $140   Oil price yesterday hit S140 per barrel as the Russia-Ukraine war continues. The spike followed the announcement early yesterday by the United States’ President, Joe Biden, of a ban on Russian energy imports, including oil, coal, and LNG,...

Nigeria's Fuel Crisis Worsens With Oil Prices Dropping Friday , 18-02-2022's oil price drop came as fuel scarcity continues to plague Nigeria, West Africa's largest economy. After climbing to $92.94 on Thursday, Brent crude future fell 1.52 percent to $91.46 at 10:30 AM Nigerian Time. According...

Oil Price Reaches $83.37/Barrel As OPEC Meets Today   Oil price in the Organization of the Petroleum Exporting Countries (OPEC) daily basket price stood at $83.37 a barrel on Tuesday, ahead of the 22nd OPEC and non-OPEC Ministerial Meeting, scheduled for Thursday. In a statement, the organization...

Steady Rise In Oil Price Pushes Foreign Reserves To $39.5bn   Nigeria’s foreign reserves have climbed to $39.5 billion on the back of steady rise in crude oil prices and drawdown on international loans. The Brent crude, the global benchmark, was up by 85 cent to trade...

OPEC+ Sticks To Output Deal As Oil Hits $81           Oil prices crossed the $80 mark following the decision by the Organization of the Petroleum Exporting Countries (OPEC) yesterday, confirming it would increase monthly overall production of oil by 400,000 barrels per day (bpd) for the...