IMF Lowers 2020 Oil Demand By 8% Amid High Uncertainties     The coronavirus crisis will see global oil demand dropping by around eight percent this year, compared to last year, the International Monetary Fund (IMF), has said in a new report. This year, oil prices will be...

Oil Drops To $43 As US Crude Inventories Rise     Oil prices fell on Wednesday as the United States government data showed a surprise rise in the country’s crude inventories, and as tensions escalated between the US and China. The international oil benchmark, Brent crude, fell 55...

Oil Prices Steady Following News Of COVID-19 Vaccine   Oil prices witnessed a little change on Tuesday, trapped in the narrow trading band of the past three weeks as investors gauged hopes for a recovery in oil demand against fears of new lockdowns due to a...

Nigeria’s Rating Suffers Blow From COVID-19, Oil Shock – Fitch   Fitch Ratings has said the coronavirus pandemic and the oil price shock have caused a severe impact on credit rating in Nigeria and some other sub-Saharan African countries. It stated this in its report on Monday...

FG Records 65% Deficit In Oil Revenue Projections — Ahmed     The Federal Government on Sunday disclosed that the lingering COVID-19 pandemic on broad sectors of the economy resulted in about 65% decline in projected net revenues from the oil and gas sector in the first...

In Five Years, Nigeria Earned $206bn From Oil – OPEC     Nigeria, Africa’s top oil producer, generated $206.06bn in revenue from crude oil exports in the last five years, the Organisation of Petroleum Exporting Countries has said. OPEC, in its 2020 Annual Statistical Bulletin released on Monday,...