Don’t Expect Crude Demand Recovery Before July - OPEC
The demand for crude oil will not recover till the second half the year, the Organisation of Petroleum Exporting Countries has said.
OPEC, however, forecast that global oil demand would fall by over six million barrels per...
Oil: Nigeria Shouldn’t Expect Price Rebound Soon — Experts
Nigeria should not expect to see a significant increase in crude oil prices anytime soon despite the production cut deal by the Organisation of Petroleum Exporting Countries and its allies, industry experts have said.
The group, known...
Crude Cuts: Nigeria To Earn $10.61bn In Eight Months
Nigeria may earn about $10.61bn from crude oil sales between May and December this year following latest decision by members and non-members of the Organisation of Petroleum Exporting Countries to cut production.
Also, the country will earn...
Nigeria Joins OPEC To Cut Crude Oil Production
The Federal Government on Friday said crude oil price would rebound by at least $15 per barrel in the short term following the latest intervention of the Organisation of Petroleum Exporting Countries and its allies, jointly referred...
Oil Drops To $32 As OPEC+ Postpones Meeting
The international oil benchmark, Brent crude, fell on Monday after Saudi Arabia and Russia postponed a meeting to discuss output cuts that could help to reduce global oversupply as the coronavirus pandemic pummels demand.
Brent, against which Nigeria’s...
Covid-19: Developing Countries’ Oil Revenue To Drop By 85%
The outbreak of the Covid-19 is expected to push down the oil revenue of Nigeria and other developing countries who rely on oil to fund their public spending, by up to 85 per cent, the Organisation...
