Petrol subsidy Now N905.27bn, Oil Price Rises To $79.71           The Nigerian National Petroleum Corporation spent a total of N905.27bn on petrol subsidy in eight months amid rising global oil prices, the latest data obtained from the corporation show. With the international oil benchmark, Brent crude, nearing...

Nigeria’s Production Faces Setbacks As Oil Price Tumbles To $68       The international oil benchmark, Brent crude, extended its losses on Monday, falling below the $70 per barrel mark to its lowest level since May. The further decline in the price of Brent followed the imposition of...

Rise In Oil Price Continues, Inches Closer To $75pb     The price of crude oil crept higher yesterday, almost hitting the $75 per barrel mark as industry data pointed to a substantial decline in United States crude stockpiles coupled with rising fuel sales in India as...

Oil Price: Experts Dismiss Gains As Subsidy Nears N200bn       After the international crude oil benchmark, Brent advanced above $70 as the PUNCH reported earlier in the month, industry experts see meagre benefits as subsidy payments gulp revenues. The Federal Account Allocation Committee report for May, value...

Oil Price Gains For Fifth Consecutive Month     The average global crude oil prices have continued to rise for the fifth consecutive month, the Organisation of the Petroleum Exporting Countries said on Tuesday. OPEC attributed the continued rise in international oil prices to the supportive oil market...

Oil Price Rebounds To $66 Ahead Of OPEC Meeting       Oil price rose from its biggest slump since November 2020, ahead of a key meeting of the Organisation of Petroleum Exporting Countries (OPEC) that may see some supply returned to a fast-tightening market. US crude rose 2.2...