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...
Oil Price Now $65 As Libyan Oilfields Shut Down
Oil prices rose to their highest in more than week on Monday after two large crude production bases in Libya began shutting down amid a military blockade, risking reducing crude flows from the OPEC member to...
