Nigeria’s Earnings Threatened As Oil Sheds $2.33/barrel
Brent, the oil against which Nigeria’s crude is benchmarked, dropped in price on Wednesday, shedding $2.33/barrel.
The bulk of Nigeria’s foreign exchange earnings comes from the sale of crude oil and a crash in global oil prices often leads...
Nigeria’s Oil Rig Count Rises By 2 As OPEC’s Decreases By 14
Nigeria has for two months now continued to experience rise in oil production as its rig count moved up by two, having recorded 10 in September, as against eight recorded in August.
Earlier in...
W/Bank Projects Oil Price Of $44 In 2021
The World Bank has said that oil prices won’t be rising much next year either, but would average $44 per barrel, saying that prices will not recover to pre-pandemic levels at least until 2022.
In its semi-annual Commodity...
Nigeria’s Sept Oil Production Dropped By 1.74m Barrels – OPEC
Crude oil production in Nigeria dropped by 1.74 million barrels in September, figures from the just released oil market report of the Organisation of Petroleum Exporting Countries showed.
In the OPEC report, dated October 13, the...
OPEC Raises 2020 Demand Forecast Over China’s Recovery
The Organization of the Petroleum Exporting Countries (OPEC), has raised its global oil demand forecast for 2020 by 60,000 barrels per day (b/d) from last month to 90.29 million b/d in October, as it sees an improvement...
Naira Gains N8 As Equities Make N778bn
The naira appreciated by N8 in the last one week at the parallel market and the equities market recorded major gains of N777.9 billion as oil prices picked up.
The All Share Index (ASI) grew by N778 billion to...
