Crude Oil Price Drops to $74.18
Brent, the oil against which Nigeria’s crude is priced, dropped marginally on Tuesday, shedding 32 cents to close at $74.18 per barrel as of 4pm Nigerian time.
Industry figures showed that the commodity dipped in price by 0.43 per cent...
After Hitting Low Record , Oil Price Rises To $72
Oil prices rose on Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in US oil inventories last week and a weaker demand outlook due...
Oil Price Plunges To $74 Amid OPEC+ Crisis
The international oil benchmark, Brent crude, pared some of its recent gains on Tuesday, after the Organisation of the Petroleum Exporting Countries and its allies cancelled a meeting due to clashes over plan to increase supply to...
Oil Now $77 As Daily Petrol Subsidy Rises To N6.07bn
The further rise in global crude oil prices has pushed the daily subsidy on Premium Motor Spirit, also known as petrol, to N6.07bn.
Petrol subsidy, which was removed in March 2020, re-emerged earlier this year as...
W/Bank Upgrades Nigeria’s Economic Growth Forecast To 1.8%
The World Bank yesterday upgraded its economic growth forecast for Nigeria in 2021 to 1.8 per cent, citing higher oil prices, structural oil sector reforms, and market-based flexible exchange rate management.
This represents a 0.7 percentage point increase...
Rising Oil Price Puts More Pressure on NNPC’s Finances
Crude oil extended its gains at the weekend after closing at a six-week high with signs of strengthening demand in key markets, thereby piling more pressure on the ability of the Nigerian National Petroleum Corporation (NNPC)...
