Crude Oil Rises to $84/barrel Amid Fuel Hike Speculation Brent, the international benchmark for crude oil, rose to a high of $84/barrel on Wednesday, fuelling speculations that Nigeria might witness another hike in the pump price of Premium Motor Spirit, popularly called petrol, in the...

Oil Theft: Nigeria’s Oil Output Falls 5.5% to 1.249 mb/d in Q1, 2023 - OPEC Nigeria's oil production fell 5.5% month-on-month from 1.184 million barrels per day in May to 1.249 million barrels per day in June 2023. Also, on year-on-year, YoY, the nation’s oil output...

Nigeria Rakes in $11b from Oil Exports in Five Months The Organisation of Petroleum Exporting Countries (OPEC), latest revenues fact sheet indicates that Nigeria earned about $11 billion from crude oil exports in the first half of the year. which revealed the figure, also projected that...

OPEC Predicts Nigeria’s Economy recovery in Coming Months The Organisation of the Petroleum Exporting Countries has said, although Nigeria’s economy faced challenges in the first half of the year, it may recover in the coming months. The group in its latest report on the Monthly Oil...

OPEC Raises Nigeria’s Oil Output As Saudi Arabia Cuts Production   Members and non-members of the Organisation of Petroleum Exporting Countries, referred to as OPEC+, on Sunday, agreed to cut crude oil production volumes in order to ensure global oil market stability, but allowed Nigeria, Congo...

Global Oil Production Declining, Not Meeting Fuel Demand - OPEC The Secretary General of the Organisation of Petroleum Exporting Countries, Haitham Al Ghais, has warned that global oil production capacity was dropping. Speaking during a recent interview with S&P Global Commodity Insights, he stated the refinery...