Oil Price Rises To 10-month High Of $54
Oil prices extended gains on Wednesday, rising to their highest since last February, after Saudi Arabia announced a big voluntary production cut, and as US crude inventories declined in the latest week.
Brent crude was up 79 cents,...
‘Nigeria, Others Reduced Oil Supply By 1.9bn Barrels’
Nigeria and other member and non-member nations of the Organisation of Petroleum Exporting Countries reduced global crude oil supply by 1.9 billion barrels between May and November last year, OPEC stated on Tuesday.
It made this known after...
Oil Rises Above $53, OPEC+ Agrees On Output Rollover
The international oil benchmark, Brent crude, surged above $53 per barrel on Tuesday as the Organisation of the Exporting Countries and its allies agreed to hold production steady in the face of new coronavirus lockdowns.
Brent, against...
Oil Tumbles After Hitting $53, OPEC+ Delays Decision
The international oil benchmark, Brent crude, tumbled on Monday after hitting a record high of $53 ahead of the meeting of the Organisation of the Petroleum Exporting Countries and its allies.
OPEC and its allies, a group known...
OPEC Retains Oil Cuts Over Demand Concerns
Members of the Organisation of the Petroleum Exporting Countries (OPEC) and allied producers under OPEC+, yesterday, agreed to cap crude production at current levels in February. The decision was taken at the Joint Ministerial Monitoring Committee (JMMC) meeting.
In...
Oil Woes, As Bonny Light Drops By 34.8% In 11 Months
The average price of Bonny Light, Nigeria’s premium oil grade, has dropped by 34.8 percent to $42.9 per barrel in the past 11 months of 2020, due mainly to the prolonged Coronavirus pandemic, drop...
