Nigeria, Others Lose $500m Daily To Oil Price Crash
With the steep fall in crude oil prices this week, Nigeria and other members of the Organisation of Petroleum Exporting Countries are bleeding over $500m a day in lost revenue, according to Reuters’ calculations.
Saudi Arabia launched...
OPEC Slashes 2020 Global Oil Demand Forecast
The Organisation of Petroleum Exporting Countries still sees a rise in global crude oil demand for 2020 despite the spread of the coronavirus, but now expects an increase of just 60,000 barrels per day, it said on Thursday.
That...
BREAKING: Oil Price Crashes To $33, Loses $11 In Hours
The international oil benchmark, Brent crude, which stood at $45.72 per barrel on Sunday, has slumped to $33 per barrel.
Oil prices suffered an historic collapse overnight after Saudi Arabia shocked the market by launching a...
Oil Plunges Lowest On Russia Rejection Of OPEC Cut
Oil prices tanked more than seven per cent at the weekend to their lowest levels since mid-2017 after Russia balked at Organisation of Petroleum Exporting Countries’ (OPEC’s) proposed steep production cuts to stabilise prices.
Brent futures fell...
Nigeria, Others To Discuss Further Oil Production Cuts
Nigeria and other members of the Organisation of Petroleum Exporting Countries will gather this week to debate whether to cut oil production further as the spread of coronavirus hits demand for crude worldwide.
Reuters reported on Tuesday that...
OPEC Slashes Oil Demand Forecast By 230,000bpd
The Organisation of Petroleum Exporting Countries has slashed about 230,000 barrels per day from its 2020 world oil demand forecast due to the coronavirus outbreak.
OPEC said on Wednesday that the coronavirus in China was making it difficult to...
