Budget Under Threat As Oil Declines To $54
The international oil benchmark, Brent crude, plummeted to its lowest level in more than a year on Monday, trading below the Federal Government’s benchmark for the 2020 budget, as the coronavirus outbreak hit fuel demand in China.
The...
Nigeria’s Daily Oil Production Decreases To 1.57m Barrels
Nigeria’s crude oil production fell to a record low of 1.57 million barrels per day last month, the Organisation of Petroleum Exporting Countries has said.
The producer group said in its monthly oil market report published on Wednesday...
OPEC To Preserve Quota As Oil Prices Return To $65 Per Barrel
The Organisation of the Petroleum Exporting Countries (OPEC), trimmed its crude oil production by 100,000 barrels daily (b/d) in December, the latest S&P Global Platts survey finds, putting the bloc under its new,...
OPEC: Nigeria Records Largest Oil Output Drop In December
Nigeria, Africa’s top oil producer, recorded the largest production drop of 80,000 barrels per day in the Organisation of Petroleum Exporting Countries last month.
The country exported less crude oil in December, according to ship-tracking data and...
Iraqi Oil Facilities Secure, Production Continuing – OPEC
Iraqi oil facilities are secured and the country’s production is continuing, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC) Mohammed Barkindo said on Wednesday.
“It’s a big relief that the facilities continue to be secured...
US Oil Imports From Nigeria, Other OPEC Members Hit 35-year Low
The United States’ imports of crude oil from Nigeria and other members of the Organisation of Petroleum Exporting Countries fell below 1.2 million barrels per day, the lowest since February 1985, according to the...
