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...

Reps, Finance Ministry Disagree Over N2.8bn Payment To OPEC       The House of Representatives and the Ministry of Finance yesterday disagreed over the procedure for paying N2.8 billion to the Organisation of Petroleum Exporting Countries (OPEC) in 2017. The Ministry appeared before the Public Accounts Committee of...

Crude Oil Price Hits 13-month High At $63       Oil prices yesterday maintained their upswing, hitting their highest in about 13 months on the back of vaccine rollouts expected to increase demand even as producers kept supply reined in. Global benchmark, Brent Crude, was up 88 cents,...

OPEC+ Optimistic About Recovery As Oil Price Nears $59         The international oil benchmark, Brent crude, rose further on Wednesday, trading near $59 per barrel. Oil prices were boosted by a drawdown in the United States crude and petrol stocks that added to demand recovery hopes fueled...