Petrol Pump Price May Drop This Month - Marketers
The pump price of petrol may reduce marginally this month, going by the fall in global crude oil prices, oil marketers said on Sunday.
According to them, since the cost of petrol has been largely determined by...
Traders Doubt OPEC Will Boost Output In 2021
The Organisation of the Petroleum Exporting Countries is unlikely to increase oil output as planned from January next year as it could mean adding more downside pressure to the already bearish and weak market, top traders have...
Nigeria, Others’ Production Cuts’ll Rebalance Oil Markets – EIA
The production cuts by the Organisation of the Petroleum Exporting Countries and its allies are expected to result in a relatively balanced market next year, the United States' Energy Information Administration (EIA) said on Wednesday.
The EIA...
Oil Overproduction: OPEC+ Asked To Extend Compensation Period
Several underperforming participating countries in the oil production cut deal by the Organisation of the Petroleum Exporting Countries and its allies have asked the group to extend the compensation period till the end of December 2020.
OPEC and...
IEA, OPEC Predict Deeper Drop In Global Oil Demand
The International Energy Agency (IEA) has trimmed its 2020 oil demand forecast on Tuesday, citing caution about the pace of economic recovery from the pandemic.
Oil prices slumped further below $40 per barrel on Monday, close to...
Nigeria’s Oil Sector Suffers 6.63% Decline Amid Production Cuts
Amid the collapse of oil prices and demand, Nigeria’s oil and gas sector saw its contribution to the economy tumble in the second quarter of this year as it recorded negative growth.
For the first time in...
