Nigeria’s Oil Exploration Declines By Over 70%       There are indications that oil exploration dropped in Nigeria by 70 per cent in February 2021, according to the Organisation of Petroleum Exporting Countries, OPEC. In its March 2021 report the organization put the nation’s rig count, a major...

Oil Drops After Hitting $70, OPEC+ Output Plunges       The international oil benchmark, Brent crude, dropped on Monday after climbing above the $70 per barrel mark for the first time in over 14 months. Brent, against which Nigeria’s oil priced, fell by $1.30 to $68.06 per barrel...

Global Growth Estimate Of 4.8% Will Increase Oil Demand, Market Stability In 2021— OPEC         The Organisation of Petroleum Exporting Countries, OPEC, has stressed that the estimated 4.8 per cent global growth will culminate in oil market stability this year. This is even as the price of...

OPEC Cautions Nigeria, Others Over Crude Oil Production       The Secretary-General of the Organisation of the Petroleum Exporting Countries has said OPEC and its allies need to remain disciplined with their production to ensure full oil price recovery as the global economy continues to rebound from...

Oil Price Rebounds To $66 Ahead Of OPEC Meeting       Oil price rose from its biggest slump since November 2020, ahead of a key meeting of the Organisation of Petroleum Exporting Countries (OPEC) that may see some supply returned to a fast-tightening market. US crude rose 2.2...

Nigeria, Others Suffered 40% Decline In Oil Investment – Report     Nigeria and other oil-producing countries in sub-Saharan Africa saw a 40 per cent decline in oil and gas investment in 2020 to the lowest level in nearly 20 years, a new report has said. The report...