Analysts Predict Bright Outlook For Nigeria’s Oil Earnings
Despite Federal Government’s substantial cut of the oil price benchmark to $20 per barrel a few days ago, Nigeria’s revenue shortfall in the 2020 budget may not be as huge as N4.7 trillion as projected based on...
Nigeria Cuts Oil Exports To Meet OPEC Deal
Nigeria has revised down its crude oil export programme for May and June to align itself with a global production cut deal led by the Organisation of Petroleum Exporting Countries, loading programmes showed.
OPEC and its allies agreed...
NNPC Delays Oil Export Plans, Negotiates With Producers
The Nigerian National Petroleum Corporation has delayed publishing its future oil export plans as it negotiates with international oil companies and local players on how to cut output in line with a global deal on production curbs.
The...
OPEC Daily Basket Price Stands At $14.63 Per Barrel
The Organisation of the Petroleum Exporting Countries (OPEC) daily basket price stood at 14.63 U.S. dollars a barrel on Tuesday, compared with 14.19 dollars on Monday.
This is according to OPEC Secretariat calculations released on Wednesday.
Also known...
Undestanding First-Ever Negative oil price
By Ahmed Adamu, PhD
As I write this article, the famous American crude oil called West Texas Intermediate (WTI) is sold at -$13 per barrel, which means, suppliers of oil have to give $13 to whoever is willing to take one...
Oil Continues Slide On Dismal Global Demand Outlook
Oil prices are seeing further downward momentum as gloomy demand outlooks continue amid economic pain caused by the coronavirus pandemic.
United States West Texas Intermediate (WTI) fell as much as 13 per cent to $17.31 per barrel at...
