The Group Managing of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, said the firm lacked international oil trading skills. According to him, several attempts made by the national oil firm’s management in the past to have a stronghold on oil trading have not yielded...

The head of the OPEC oil cartel has warned that sharp cutbacks in investment by petroleum firms poses a threat for future supplies. Mohammed Barkindo said that after plunging by 26 percent last year, a further 22 percent drop in investment was expected this year. Oil...

Global oil benchmark, Brent crude, extended its declines on Wednesday, trading around $43 per barrel, down from a 2016 peak of $52.54. Oil prices plummeted over $1 per barrel within minutes after official United States energy data showed an unexpected glut of oil in storage,...