Rise In Oil Price Continues, Inches Closer To $75pb     The price of crude oil crept higher yesterday, almost hitting the $75 per barrel mark as industry data pointed to a substantial decline in United States crude stockpiles coupled with rising fuel sales in India as...

Oil Price: Experts Dismiss Gains As Subsidy Nears N200bn       After the international crude oil benchmark, Brent advanced above $70 as the PUNCH reported earlier in the month, industry experts see meagre benefits as subsidy payments gulp revenues. The Federal Account Allocation Committee report for May, value...

Nigeria, Others Lost $1trn Oil Revenue In Two Years – OPEC       Nigeria and other members of the Organization of the Petroleum Exporting Countries lost about $1tn in revenue due to the plunge in oil prices in 2015 and 2016. OPEC’s Secretary-General, Sanusi Barkindo, who disclosed this...

Oil Hits $71 On Rising Demand Hopes In US, China       Oil prices were higher on Wednesday as negotiations over the Joint Comprehensive Plan of Action continued to falter, and as a rebound in oil demand in China, the United States and Europe threatened to outpace...

Oil Industry’s Upstream Spending Dropped By 30% In 2020 - Barkindo       Meanwhile, the Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr. Sanusi Barkindo, has said that the cartel’s latest assessment shows that capital investments in the upstream of the oil and gas...

Oil Price Rises Above $70, OPEC Projects Demand Growth       The international oil price, Brent crude, rose above the $70 per barrel mark on Tuesday, with the Organization of the Petroleum Exporting Countries projecting that demand for the commodity is bound to improve. Brent, against which Nigeria’s...