OPEC Says Nigeria’s Oil Output Rises By 4% To 1.235 mb/d   Nigeria’s oil output rose by four per cent month-on-month, MoM, to 1.235 million barrels per day, mb/d in December 2022, from 1.186 mb/d in November 2022. On Year-on-Year, YoY performance, the nation’s oil output also...

Oil Prices Set For $105 On Global Demand Growth   Solid growth in global oil demand is set to drive oil prices to above $100 this year and Brent Crude could trade at $105 per barrel by the fourth quarter. Also, global oil demand is set to...

Crude Oil: Bonny Light Loses All 2022 Gains   Nigeria’s Bonny Light grade crude oil lost all its gains in 2022 after trading at $81.94 per barrel at the end of 2022, a drop of 8.26 percent from the $88.71 per barrel it traded in January...

Oil Production Now 1.18mbpd, Highest In Seven Months   Nigeria’s crude oil production rose to 1.185 million barrels per day in November 2022, representing the highest output by the country in the past seven months. Latest oil production figures obtained from the Nigerian Upstream Petroleum Regulatory Commission...

Oil Earnings Crashed By N288bn In Q3, 2022   Nigeria’s oil earnings have gone southward amid rising crude thefts among other factors. Nigeria’s earnings from crude oil crashed by N287.95bn in the third quarter of 2022 as a result of the incessant theft of the commodity in...

OPEC Decision On Oil Production Cut, Unanimous – FG   The Federal Government on Tuesday said the decision by the Organisation of Petroleum Exporting Countries (OPEC) to cut two million barrels of crude oil production was a unanimous one. It said the step was taken to stabilise...