Oil Rises To $38 As OPEC+ Discusses Production Cut Extension   The Organisation of Petroleum Exporting Countries and its allies led by Russia are moving closer to a compromise on extending current oil output cuts and are discussing a proposal to roll over supply curbs for...

Oil Prices Fall As Fuel Demand Sinks   Oil prices fell on Wednesday despite a massive pending United States economic stimulus package as the coronavirus pandemic sharply dented US fuel demand in the latest week, with traders bracing for further declines. Demand for oil products, especially jet...

Oil Declines To $28, Dollar Exchanges For N369   The price of Brent crude oil, the international benchmark, extended its decline on Tuesday, trading around $28 per barrel. Brent, against which Nigeria’s crude is priced, fell by $1.40 to $28.65 per barrel as of 8:15 pm Nigerian...

PPPRA’s Petrol Landing Cost Drops on Declining Oil Prices The sharp drop in the price of crude oil appear to have temporarily halted the federal government’s expenditure on petrol subsidy, records from the Petroleum Products Pricing Regulatory Agency (PPPRA) have suggested. Following the slump in crude...

Coronavirus: Fed Govt To Review Budget As Oil Price Plunges   The Federal Government has announced plans to review the 2020 budget as crude oil revenue comes under pressure from the effects of the raging coronavirus infection globally. The Minister of Finance/Budget Planning, Mrs Zainab Ahmed, said...

Budget Under Threat As Oil Declines To $54   The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below the Federal Government’s benchmark for the 2020 budget, as the coronavirus outbreak hit fuel demand in China. The...