Oil Crash May Warrant Production Halt - NNPC   Nigeria has not stopped producing crude oil but a persistent crash in oil prices may lead to a halt in production, the Nigerian National Petroleum Corporation has declared. On Tuesday, global oil price benchmark, amid the demand collapse...

Undestanding First-Ever Negative oil price By Ahmed Adamu, PhD   As I write this article, the famous American crude oil called West Texas Intermediate (WTI) is sold at -$13 per barrel, which means, suppliers of oil have to give $13 to whoever is willing to take one...

Oil Continues Slide On Dismal Global Demand Outlook   Oil prices are seeing further downward momentum as gloomy demand outlooks continue amid economic pain caused by the coronavirus pandemic. United States West Texas Intermediate (WTI) fell as much as 13 per cent to $17.31 per barrel at...

Oil: Nigeria Shouldn’t Expect Price Rebound Soon — Experts   Nigeria should not expect to see a significant increase in crude oil prices anytime soon despite the production cut deal by the Organisation of Petroleum Exporting Countries and its allies, industry experts have said. The group, known...

COVID-19: Time For Nigeria To Start Looking Beyond Oil - Expert     A development and governance expert, Dr Chiwuike Uba, has expressed satisfaction with the decision of the Organisation of Petroleum Exporting Countries (OPEC) under the OPEC+ platform to cut down on oil production by about...

Oil Drops To $32 As OPEC+ Postpones Meeting     The international oil benchmark, Brent crude, fell on Monday after Saudi Arabia and Russia postponed a meeting to discuss output cuts that could help to reduce global oversupply as the coronavirus pandemic pummels demand. Brent, against which Nigeria’s...